- January 11, 2017 / 2 min readCoffee Day chairman V G Siddhartha was among the first backers of Infosys, when it went public in 1993 and scripted history for nearly quarter century as among the most valued stock on Indian stock exchanges.
Infosys co-founder Nandan Nilekani has almost doubled his stake in Bengaluru-based Coffee Day Enterprises, betting on India's largest retail coffee brand that looks at increased local consumption to drive future growth.
Nilekani, had jointly invested Rs 100 crore with stock investor Rakesh Jhunjunwala in pre-IPO funding in March 2015.
In the quarter ended December, Nilekani had increased his stake to 2.57 per cent from 1.4 per cent in the Bengaluru-based Coffee Day, taking his investment value in the company to Rs 104 crore.
Interestingly, Coffee Day chairman V G Siddhartha was among the first backers of Infosys, when it went public in 1993 and scripted history for nearly quarter century as among the most valued stock on Indian stock exchanges.
Nilekani said in an interview, "It is just to encourage entrepreneurs who are thinking, innovating new solutions that are unique to India. Then, I am broadly looking at how technology can be used to make India unorganised to organised. I don't invest in education, where i only do philanthropy. Education is the only place where I spend money, where I don't earn money."
He, along with his wife Rohini Nilekani, runs EkStep, a not-for-profit initiative that promotes primary education, in which he has committed an amount to the tune of USD10 million.
Search for top Restaurant Suppliers in your city