Cafe Coffee Day operator shares plunges 20% after founder VG Siddhartha's death

There were pending sell orders of 2,494,013 shares, with no buyers available

Shares of Coffee Day Enterprises shed another 20 percent to hit a 52-week low in the early trade on July 31 after Cafe Coffee Day founder VG Siddhartha body was found near the Netravathi river in Mangaluru.


There were pending sell orders of 2,494,013 shares, with no buyers available.

The share was locked at 20 percent lower circuit on July 30 after Siddhartha went missing on July 29.

Siddhartha was last seen at 6 pm on July 29 when he got off his car. The driver had contacted the family when Siddhartha didn’t return for an over an hour.

Also, Read Missing Cafe Coffee Day founder VG Siddhartha dead, body found

Siddhartha had written a letter to the board and employees of Coffee Day Enterprises, saying he had "failed as an entrepreneur,".

"I fought for a long time but today I gave up," Siddhartha said in the letter dated July 27.

At 0922 hours, Coffee Day Enterprises was quoting at Rs 123.25, down Rs 30.80 on the BSE.

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