Japan's Impact HD Inc to acquire 49% stake in Coffee Day Consultancy Services for $ 15mn

Coffee Day Enterprises said Monday Japan-based Impact HD Inc will acquire 49 per cent stake in Coffee Day Consultancy Services Pvt Ltd (CDCSPL) for USD 15 million (about Rs 104.45 crore). The company along with its material subsidiary Coffee Day Global Ltd (CDGL) and Coffee Day Consultancy Services Pvt Ltd has entered into a share subscription and shareholders agreement with Impact HD Inc for the deal, Coffee Day Enterprises said in a regulatory filing.

The CDCSPL will carry out the business of providing consultancy services in the retail sector. Subsidiary of CDCSPL operates and manages Coffee Day Fresh & Ground business.  

"The company has approved to enter into the share subscription and shareholders agreement between Coffee Day Enterprises Ltd (CDEL) along with its material subsidiary Coffee Day Global Ltd (CDGL) and Coffee Day Consultancy Services Pvt Ltd (CDCSPL) with Impact HD Inc, (IHD) for subscription to equity shares of the CDCSPL by IHD by investing rupee equivalent to USD 15 million for 49 per cent stake in the CDCSPL," the filing said.

Coffee Day Enterprises said post subscription of equity shares by IHD, CDEL and CDGL will hold 51 per cent of the paid-up-equity capital of CDCSPL, the company added.