CCD plans IPO

Cafe Coffe Day is planning an initial public offering (IPO) of USD1 billion and has started interviewing investment banks for the same.

The person familiar with this development said, the offering could help CCD extend its business in India over rivals including Starbucks which opened its first store in October 2012 through a joint venture with Tata Beverages.

The coffee chain also plans to add 350 outlets by the end of next year of which 65 percent will be in high-street locations.