Coffee Day Incorporates New Subsidiary
Coffee Day Enterprises Limited has incorporated a wholly-owned subsidiary, "Coffee Day Kabini Resorts Limited".
A. Name of the Incorporated Entity, details in brief
Name of the Entity: Coffee Day Kabini Resorts Limited
Turnover: Not Applicable
B. Whether the incorporation/ acquisition would fall within related party transactions and whether the promoter/promoter group has any interest in the entity being incorporated/ acquired? If yes, whether the same is in arm's length?
C. Industry to which the entity being incorporated/ acquired belongs:
D. Objects and effect of Incorporation/ Acquisition
Incorporated as a wholly-owned subsidiary of the Company, for business purposes.
E. Brief details of any governmental or regulatory approvals required for the incorporation/ acquisition.
F. Indicative time period for completion of the incorporation/ acquisition
G. Nature of Consideration, whether cash consideration or share swap and details of the same.
Subscription to Equit y Shares
H. Cost of incorporation/ Acquisition or the price at which shares are incorporated/ acquired
I. Percentage of shareholding
100% - Wholly Owned Subsidiary
J. Brief background about the entity incorporated/ acquired in terms of products/ line of business, history of last 3 years turnover, a country in which the incorporated/ acquired entity has a presence and any other significant information
Line of Business: Hospitality business
Turnover of the last 3 years: Not applicable
Country in which the incorporated entity has a presence: India