KKR-backed Indian coffee chain Cafe Coffee Day plans to file an Initial Public Offering (IPO) valued at $ 1 billion by 2015 in Mumbai. The company has initiated talks with investment banks for the same, says a leading daily.
If successful, the IPO will help CCD strengthen its position in the country over other players including Starbucks, as per the leading daily. A report from Technopak Advisors (September) pegged the CCD outlets in India at 1,650, claiming the number was three times higher than its competitors combined.
Run by Henry Kravis and George Roberts, KKR is a PE firm which invested in CCD’s parent company in 2010 along with New Silk Route Partners based in New York and Standard Chartered Plc’s PE unit.
