The holding company of Café Coffee Day, the home-grown café chain which is jostling with gigantic recent India market-entrant Starbucks, is headed towards an initial public offering. Highly placed sources within the group said the holding company is likely to be listed on an overseas stock exchange in the next 6-8 months. If the economy and the stock markets turn conducive within the country, the company could contemplate an India listing, they said. The promoter V.G. Siddhartha, 54, is said to be in advanced discussions with several investment banks and is looking at a valuation upwards of $1 billion. Besides the Café Coffee Day chain, India’s largest, the holding company comprises of real estate developer Tanglin, holds 20% stake in the listed IT services firm, MindTree, as well 55% stake in Sical Logistics.
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