India: This is the right time to give an exit route to investors, says CCD’s VG Siddhartha

Coffee Day Enterprises Ltd, the holding company of the Cafe Coffee Day (CCD) chain of restaurants founded by V.G. Siddhartha, is planning to launch its initial public offering (IPO), to raise Rs.1,150 crore, before Dussehra (22 October). The proceeds of the IPO will be used to reduce debt and to expand the number of CCD outlets over the next three years. Siddhartha, chairman of Coffee Day Enterprises, talks about the IPO, business expansion and his dream of making CCD a preferred Indian brand for global high streets. Edited excerpts: