Coffee Day shares plunge after its founder Siddhartha goes missing
Bengaluru, July 30: The shares of the Coffee Day Enterprises Ltd dropped 20 per cent after its founder, V G Siddhartha went missing at Mangalore on Monday.
The shares slumped as much as 20 per cent to 153.40 rupees. The stock as of its Monday's closing price has corrected nearly 27 per cent in the last year.
Reports say that he had got of his car near a bridge across the Nethravathi River near Mangalore, but did not return even after an hour. The driver went looking for him, but could not find him anywhere. He informed the family, who in turn intimated the police.
Today I gave up said V G Siddhartha in letter to Coffee Day family before he went missing
The
police
have
launched
a
massive
search
for
him.
His
driver
told
the
police
that
Siddhartha
was
talking
on
the
phone
when
he
got
off
the
car
near
Kotekar.
The
police
said
that
he
was
on
a
business
trip
to
Mangalore.
He had arrived here from Bengaluru by car. Two persons who accompanied him got down at the Pumpwell Circle. He then instructed his driver to go towards Ullal, following which he told him to stop at the bridge. He was seen walking for sometime, before he went missing.