Coffee Day Enterprises today said its subsidiary Coffee Day Trading will divest its entire stake in associate Global Edge Software for a consideration of Rs 75-100 crore.
Coffee Day Enterprises runs the popular Cafe Coffee Day chain.
"This is to inform that subsidiary of the company 'Coffee Day Trading' has agreed to divest its entire 65,20,343 shares in its associate Global Edge Software," Coffee Day Enterprises said in a BSE filing.
It further said the buyer is Altran Technologies India and consideration received from this sale is "approximately Rs 75-100 crore".
Shares of the company closed 4.47 per cent higher at Rs 249.90 apiece on BSE.
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