AHMEDABAD, India – The Chairman of the leading coffee chain in India, the Cafe Coffee Day (CCD), V G Siddartha announced yesterday the opening of a public issue of equity shares for his company with an intention to collect 1150 crore (S$177.4 million) for the development of coffee business and claimed that with the rising urban population the total number of chained coffee outlets in the country (of all the companies) would increase from existing 2000 to 5000 in the coming five years.
Addressing a press conference here, Mr Siddartha said in the wake of increasing per capita income and traveling trends among youths the number of such outlets along the highways would also reach 1000 mark in the next five years.
