Starbucks rival in India seeks IPO

|About: Starbucks Corporation (SBUX)|By:, SA News Editor

PE-backed Coffee Day plans to raise 11.5B rupees ($181M) in an IPO in India, according to Reuters.

Coffee Day is the operator of the Cafe Coffee Day chain in India.

Cafe Coffee Day is a major rival of Starbucks (SBUX +0.7%) which operates through a joint venture with Tata Group in the region.

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