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Cafe Coffee Day shares drop 20% after owner Siddhartha goes missing

Bengaluru | Shares of Coffee Day Enterprises Ltd tanked 20% after its founder VG Siddhartha went missing in Karnataka’s Mangaluru on Monday.

According to the police, Siddharta went missing near the Netravathi bridge in Mangaluru. The driver said that Siddhartha had directed him to stop the car along the bridge so that he could take the walk. But even after an hour or so, he did not return, so the driver alerted the family.

Coffee Day Enterprises slumped as much as 20% to 153.40 rupees, their lowest level on record. The broader S&P BSE Sensex index was up 0.4%, Bloomberg reported.

VG Siddhartha is also the son-in-law of SM Krishna, former Chief Minister of Karnataka and former Foreign Minister.

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