The Coffee Day Enterprises investors have lost close Rs 1,500 crore of his personal fortune since he abruptly disappeared on Monday night.
As the panicked sellers outweighed the buyers for Coffee Day scrips on the Bombay Stock Exchange (BSE), the company’s share prices eroded by 36% in two trading sessions.
On both the trading days, company share prices tanked by 20%, hitting the lower price brand. A price band is a value-setting method in which a seller indicates an upper and lower cost limit, between which buyers are able to place bids.
As a result of beating, the company’s scrips received, the investors of the company lost Rs 1,464 crore, as the market cap of the café outlet chain depleted from Rs 4,068 crore on Monday to Rs 2,604 crore on Wednesday.
Siddhartha, who holds 32.75% stake in it, saw his holdings in the company diminish by Rs 479.4 crore.