India’s biggest coffee chain may get even bigger.
Café Coffee Day, owned by the holding company Coffee Day Enterprises Ltd, is already the market leader when it comes to coffee in India. The self-proclaimed “pioneer of the cafe culture” in India, it has more than 1,500 cafes in 200 cities and towns across the country, including 191 in Bangalore and 185 in Delhi. Starbucks, meanwhile, has just 71.
And now, Café Coffee Day is rumored to be preparing for an IPO that would value it at $1 billion, Forbes is reporting. The IPO would offer 20% of the company’s stake for about $200 million. (Quartz has reached out to Café Coffee Day for comment, and this post will be updated with any response.)