The shares were sold on May 17, 2021, and, based on the weighted average price of the stock at Rs 30.14 apiece, sale of 4,865,067 equity shares of Coffee Day Enterprises is estimated at a sum of Rs 14.66 crore.
“The sale of shares is pursuant to the sale/enforcement of invoked pledged shares through IDBI Trusteeship Services Limited (ITSL) acting as the debenture trustee, for the benefit of Marina Hari (IV) Pte. Ltd. and Standard Chartered Private Equity (Mauritius) II Limited as the holders of optionally convertible debentures of principal amount Rs 300 crore, issued by Devadarshini Info Technologies Pvt Ltd and holding the shares by way of pledge as security,” a regulatory filing said.
The sole purpose of the sale of shares is to recover the defaulted dues to the debenture holders and not for making any gain,” it added.
Marina Hari (IV) Pte Ltd and Standard Chartered Private Equity (Mauritius) II Limited are not directly holding or transferring the shares other than as beneficiaries through ITSL, the filing said.
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