Coffee Day goes global, acquires ONS Ventures in Malaysia

In order to expand its business on a global level, Coffee Day Enterprises’ material subsidiary, Coffee Day Global, has acquired ONS Ventures Sdn. Bhd in Malaysia. ONS Ventures operates in the retail trading industry in Malaysia.
 
The acquired company will be the acquired subsidiary of the listed entity and the process of the acquisition will be completed by September 16, 2017. The acquisition cost is estimated at approximately Rs 75 lakhs through subscription of equity shares in the company, thus making it a wholly-owned subsidiary.
 
Meanwhile, on a yearly basis the stock has yielded 3.35% returns and has underperformed the BSE Mid-Cap and BSE FMCG indices. The stock traded at its 52-week high of Rs 276.85 per share and a 52 week low of Rs 190.50 per share. On the NSE the stock attracted a total traded value of Rs 99.15 lakh and a traded volume of 40,499 shares.