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.
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.