Cafe Coffee Day shares lose another ₹700 crore value after founder Siddhartha's dead body surfaces

• The shares of Coffee Day Enterprise slipped by a massive 19.9% in early trade.
  
• It was trading at a new low of ₹123.25 after the news about the founder's death surfaced this morning.
  
• VG Siddhartha, the founder, and CEO of Cafe Coffee day was missing since Monday evening.
  

The shares of Coffee Day Enterprise $4 in early trade. It was trading at a new low of ₹123.25 after the news about the founder's death surfaced this morning.

VG Siddhartha, the founder, and CEO of Cafe Coffee day was missing since Monday evening. The police conducted a massive search operation until this morning. They recovered a body which is believed to be of the CCD founder.

The company$4 as of March 2019. Siddhartha was under heavy pressure as he held three-fourths of his company’s shares.

"Today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares,”$4, in a letter which has been doing the rounds since yesterday. Siddhartha had blamed private equity players, and the tax authorities in the letter.

Country's stock regulatory board, Securities and Exchange Board of India (SEBI) $4private equity players, or any lapses that may have occurred. It is also monitoring the trading patterns of the company.

Yesterday, the value of all outstanding shares fell by nearly ₹800 crore after the company $4that their founder is not reachable.

See also:
$4

$4y