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Sep, 28 2015

CCD to open over 400 outlets in next three years, invest Rs 450 crore

According to the spokesperson, over 70 per cent of the new stores would come in exciting cities where CCD is already present and rest would come up in new cities and highways.

Cafe Coffee Day, the Bengaluru based cafe chain is planning to invest RS 450 crore over the next three years to expand its outlet in the country.

The coffee chain is planning to open over 400 outlets in the country while it completes all formalities to come out with its Rs 1,150-crore initial public offering in October.

"We are in the process of getting final approvals to come out with our IPO before Dussehra (October 22). Over the next three years we plan to open 135 outlets every year and will invest Rs 400-450 crore. All our stores are company owned," shared V G Siddhratha, Chairman, Coffee Day to PTI.

According to the spokesperson, over 70 per cent of the new stores would come in exciting cities where CCD is already present and rest would come up in new cities and highways.

"We see a lot of opportunity in opening outlets on highways. At present we operate 137 highway stores," added Siddhartha.

The coffee chain which also gets SEBI nod to raise its IPO is also planning to list its shares on BSE and the NSE.

The company, which counts private equity giants like KKR, Stanchart PE and New Silk Route among its investors, has reserved Rs 15--crore worth shares for staff.

Coffee Day Enterprises is the parent company of the Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Ltd (earlier known as Amalgamated Bean Coffee Trading Company Ltd) and its subsidiaries.

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