IDBI Trusteeship Services invokes pledged shares of Coffee Day Enterprises

IDBI Trusteeship Services, on behalf of Marina Hari (IV) Pte Ltd and Standard Chartered Private Equity (Mauritius) II, has invoked 2.30 per cent equity shares pledged of debt-ridden Coffee Day Enterprises for an estimated sum of Rs 14.66 crore.

Marina Hari (IV) Pte Ltd and Standard Chartered Private Equity (Mauritius) II Limited are holders of optionally convertible debentures of principal amount Rs 300 crore, issued by Coffee Day Enterprises' promoter group firm Devadarshini Info Technologies Pvt Ltd.

The shares were sold on May 17, 2021, and, based on the weighted average price of the stock at Rs 30.14 apiece, sale of 4,865,067 equity shares of Coffee Day Enterprises is estimated at a sum of Rs 14.66 crore. "The sale of shares is pursuant to the sale/enforcement of invoked pledged shares through IDBI Trusteeship Services Limited (ITSL) acting as the debenture trustee, for the benefit of Marina Hari (IV) Pte. Ltd. and Standard Chartered Private Equity (Mauritius) II Limited as the holders of optionally convertible debentures of principal amount Rs 300 crore, issued by Devadarshini Info Technologies Pvt Ltd and holding the shares by way of pledge as security," a regulatory filing said.