Shares of Indian coffee shop chain Coffee Day Enterprises Ltd plunged 20% in ear...
FILE PHOTO - V.G. Siddhartha, chairman of Coffee Day Enterprises Ltd, speaks during a news conference in Mumbai, India, October 7, 2015. REUTERS/Shailesh Andrade
BENGALURU - Shares of Indian coffee shop chain Coffee Day Enterprises Ltd plunged 20% in early trading on Tuesday, after the founder and largest shareholder in the company went missing under mysterious circumstances on Monday. Local media reports said VG Siddhartha, the founder of the chain, was on his way to Mangaluru - a port city around 350 kilometers from India’s tech hub of Bengaluru. Siddhartha reportedly asked his driver to wait for him on a bridge, and never returned.
Regional television showed search operations underway near Mangaluru, where the industrialist was last seen. Coffee Day confirmed with the exchanges that Siddhartha has not been reachable since Monday, but did not provide further details.Siddhartha was recently in the news after he sold about 20% of his stake in tech company Mindtree Ltd (
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