Category Archives: Coffee, Kodagu (Coorg)

India’s biggest IPO in 3 years fully subscribed

Business & Economy, Coffee News, Coffee, Kodagu (Coorg), Records, All, World Opinion
Girls sit at the window of a Cafe Coffee Day outlet in Mumbai, February 25, 2015. The firm behind Cafe Coffee Day, India's biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country's burgeoning cafe culture draws global giants Starbucks and McDonald's. Cafe Coffee Day, a cafe pioneer in India, aims to list a 20 percent stake, raising roughly $200 million, within the next quarter, sources with direct knowledge of the plans said. Picture taken February 25, 2015. REUTERS/Shailesh Andrade / @ Reuters Girls sit at the window of a Cafe Coffee Day outlet in Mumbai, February 25, 2015. The firm behind Cafe Coffee Day, India’s biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country’s burgeoning cafe culture draws global giants Starbucks and McDonald’s. Cafe Coffee Day, a cafe pioneer in India, aims to list a 20 percent stake, raising roughly $200 million, within the next quarter, sources with direct knowledge of the plans said. Picture taken February 25, 2015. REUTERS/Shailesh Andrade / @ Reuters

New Delhi (NewsRise):

The owner of India’s largest coffee chain received bids for 1.2 times the shares it offered in the nation’s biggest initial public offering in three years, indicating that investors remain bullish on Prime Minister Narendra Modi’s efforts to revive economic growth.

Coffee Day Enterprises, which runs the Cafe Coffee Day outlets, received 31.3 million bids for the 25.8 million shares it offered, according to provisional data on the National Stock Exchange. The company aims to raise as much $176 million via the IPO.

A slew of companies, including India’s largest discount airline, have filed for IPOs this year, betting that Modi’s reforms and easing interest rates will revive growth in Asia’s third-largest economy. As many as 16 companies filed their draft prospectus with markets regulator the Securities and Exchange Board of India between July and September, the highest quarterly filing in four years, Business Standard newspaper reported.

“Improvement in the economic situation means that the appetite will pick up,” said Deven Choksey, managing director at K.R. Choksey Shares and Securities. “If quality papers come at a reasonable price, investors will be more than happy to purchase.”

Until Thursday, Coffee Day Enterprises had received bids for 75% of its shares on offer. Demand picked up after a lukewarm response on Wednesday, the opening day for subscription, led by bids from the so-called Qualified Institutional Buyers that included local banks and insurance companies.

Discount carrier IndiGo’s parent InterGlobe Aviation is likely to open the 25 billion rupee ($385 million) initial public offer on Oct. 26, Economic Times reported. Mumbai-based L&T plans to sell 17.5 million shares, or nearly 11% of outstanding stock of unit Larsen & Toubro Infotech. L&T, which currently holds 161.25 million shares in the unit, plans to raise around 15 billion rupees via the share sale.

Coffee Day Enterprises has been expanding outlets in recent years, betting that rising disposable incomes and increasing coffee consumption in the world’s second-most populous nation will boost revenues.

Analysts had largely advised investors to be cautious about the company’s financials and its complex structure, which includes a range of businesses from real estate to software services. Coffee Day’s other businesses have a history of weak returns on capital, they said.

From January to September this year, 15 companies had raised $992 million through IPOs in India, compared with $197 million last year and $235 million in 2013. The market is still a fraction of what it was in 2010, when 64 firms raised $8.34 billion, according to Prime Database.

source: http://www.asia.nikkei.com / Nikkei Asia Review / Home> Markets> Equities / October 16th, 2015

Coffee Board of India Recruitment 2015 for 06 Junior Assistant Posts

Coffee News, Coffee, Kodagu (Coorg), Uncategorized

Coffee-boardKF16oct2015

Under Special Recruitment Drive for Persons with Disabilities, the Coffee Board of India has invited applicants to apply for six posts of Junior Assistants.

Interested and eligible candidates need to apply through prescribed application format before November 15, 2015.

Selection of the candidates would be made based upon performance of the candidates in the written test, typing test/skill test and personal interview round conducted by the concerned requirement authority.

Due to the World War during the 1940’s the state of Coffee industry was miserable in India and this is the time when the Government of India established the ‘Coffee Board’ though the “Coffee Act VII of 1942” under the administrative control of the Ministry of Commerce and Industry.

The board is responsible since its inception to develop the status of coffee marketing, finance, research and development.

Research and development undergoes in various substation and research centres of the Coffee Board around the nation to improve the quality and standards of the Indian Coffee.

Vacancy details:
Name of the post: Junior Assistant
Total number of posts: 06
Pay scale: Rs. 5200- 20200/- with Grade Pay of Rs. 1900/-
Eligibility:
Educational qualification:
Candidates having passed 12th Class from any recognized board/institute along with a typing speed of 35 wpm in English or 30 wpm in Hindi on computer can apply for the post.
Age limit: Candidates must be between 18 to 27 years age.

For official notification, click here.
Selection procedure:
Selection of the candidates would be made based on the performance of the candidates in written test, typing test/skill test and personal interview round, conducted by the concerned recruitment authority.
How to apply:
Interested and eligible candidates need to apply through prescribed application format which can be downloaded from the official website from October 14, 2015 onwards.

Candidates need to pay Rs. 100/- in the form of Indian Postal Stamp addressed to the Deputy Secretary (Adminstration), Coffeee Board, No. 1, Dr. B.R. Ambedkar Veedhi, Bengaluru- 560001, in order to get the application form by post.

Filled in application form along with all the requisite documents, certificates, passport size photograph and other testimonials should reach the “Deputy Secretary (Administration), Coffee Board, No.1, Dr. B.R. Ambedkar Veedhi, Bengaluru- 560001” before November 15, 2015.

source: http://www.prepsure.com / PrepSure.com / Home> Jobs> Government Jobs / by Editorial Team / October 15th, 2015

From Assam to Hassan in search of work

Agriculture, Business & Economy, Coffee, Kodagu (Coorg)
More than 5,000 people from Darang and neighbouring districts of Assam have found work in plantations of Belur and Sakleshpur taluks.— Photo: Prakash Hassan
More than 5,000 people from Darang and neighbouring districts of Assam have found work in plantations of Belur and Sakleshpur taluks.— Photo: Prakash Hassan

Assam may be famous for its tea gardens, but a good number of Assamese workers have found employment in the coffee estates of Chikkamagaluru and Kodagu.

More than 5,000 people from Darang and neighbouring districts of Assam have come to work in plantations of Belur and Sakleshpur taluks. Many more work in estates spread over Chikkamagaluru and Kodagu districts.

“We hardly find jobs in our hometown. If we get work for a week, we remain jobless for next few weeks,” said Habizur Rahman (25), who has been working in Hasurugudda Estate of IBC company near Arehalli in Belur taluk for the last four years. Both men and women are enrolled as contract workers in estates for a daily wage of Rs. 228. In Assam, women hardly get the opportunity to earn in fields, he said.

The wave of migration started five years ago, when a manager of an estate in Belur taluk came in contact with planters in Kodagu, where workers from Assam had begun to arrive. “Those days we were struggling to get local people to work. We were looking for people who could work. The first batch of 25 people came from Assam five years ago. As they got work for the entire year and wages were better than what they got in their homeland, they brought more people from their State,” said Fazlur Rahman, manager with IBC estate.

Election trips

The manager pointed out that many planters have employed Assamese as they are hard workers, though they are not well-versed in the skill of maintaining coffee. These workers have brought their family and all of them make a trip to their homeland during elections. “Voting is significant as there is a serious issue of illegal migrant voters from Bangladesh,” said Shwahidul Islam, who always keeps his voter’s identity card in his pocket.

However, the workers are unhappy with the poor facilities provided in the estates. Around two or three families are forced to settle in one house with plastic sheets to separate them. For over 80 families there is only one toilet, in one of the estates visited by The Hindu .

“We repeatedly demand for proper facilities, but our cry does not reach the people concerned. If anyone falls sick, we neither get paid holiday nor medical expenses reimbursed,” said Habizur Rahman.

The district administration has set up a tent school for children of migrant workers, but they find this of no use. “We need a proper school where our children can get education from teachers who know Hindi,” said Marina Khatun, one among the women workers in the estate.

source: http://www.thehindu.com / The Hindu / Home> National> Karnataka / by Sathish G.T. / Hassan – September 27th, 2015

Tracking those cup o’ Joes

Coffee News, Coffee, Kodagu (Coorg)

We Indians love our coffee, but do we really care where it is coming from? Is it organic, does it harm the biodiversity or conserve it? What kinds of practices are adopted? Come to think of it, considering the amount of coffee we consume, there could not be a better time than now, to start dwelling on these questions.

A coffee addict and a conservationist, Arshiya Bose, aware of the ecological footprint of each cup of coffee she consumes, started by not only being a conscious consumer but also initiated a similar change among others through her establishment, Black Baza Coffee — where wildlife conservation and incentivised shade-grown coffee production go hand in hand.

Having completed a PhD in Sustainable coffee certifications and Biodiversity conservation from the University of Cambridge, in the year 2014, Arshiya has come a long way in applying theories on ground.

“India is one of the few countries in the world where shade-grown coffee has been the norm for over 180 years. It’s now, in the recent past, that these practices have been compromised for quicker yields and better profits,” says Arshiya, who spent several years investigating the practices and challenges of coffee growers in Coorg. The coffee estates in the Western Ghats host several wildlife species — right from myriad species of migratory birds to small mammals.

While she understands the need to protect these species, Arshiya believes it can be best achieved by positively engaging coffee growers by incentivising best practices. She started her project with a few coffee growers in Kodagu, on three estates. “The process of engaging has been slow and yet fruitful. I approached farmers and explained the sustainable and long-term benefits of shade-grown coffee. The farmers agree to adopt certain practices and we buy their coffee in return and ensure improved economic returns. The practices don’t just help sustain wildlife, but improves the water and air quality, besides the health of the soil.”

Real picture
The farmers grow coffee under the shade of forest trees, keeping at least 60 per cent tree canopy cover — a minimum of 100 trees and 20 species of indigenous trees per acre. “We reforest farms by planting rare and endemic forest trees that provide critical habitat for a wide variety of wildlife. Streams, rivulets and ponds on farms and surrounds are protected from harmful effluents and of course, no chemical pesticides are used,” explains Arshiya.

Though a majority of coffee growers still ensure their estates harbour several species of native trees — the demand for quicker yields is pushing more farmers to plant exotic species like the silver oak (Grevillea robusta) that affect the condition of the land. Explains Arshiya, “The big exotic tree is silver oak, increasingly the most common shade tree especially for new conversions to coffee. An average plantation usually has 20-30 per cent shade cover, 60-80 trees per acre, where over 20 per cent of all trees are silver oak with less than 10 species of trees per acre. In our plantations, we have over 60 per cent shade cover, 100 trees per acre, and less than 20 per cent of all trees are silver oak. We plant over 22 species of different native trees per acre.”

Know your source
Talking about fair-trade market practices, Arshiya says, “Just certifying healthy practices won’t benefit farmers. The kind of market they are exposed to matters most. We want people to be more conscious of the kind of coffee they drink everyday and know more about the farmer who grows it for them,” she asserts.

Arshiya, through her enterprise, ensures that farmers are economically benefited for their practices and a coffee drinker feels proud to be involved in conservation by making right choices.

Arshiya has been monitoring the impact for the last few years, including camera trapping to document wildlife in the estates. “We measure the impact of our changed farming practices through monitoring the diversity of trees, birds, insects, mammals and all sorts of biodiversity. Our estates support a range of wildlife species.”

Many of these species may frequent several neighbouring coffee farms too, but Arshiya believes these protected patches of coffee estates can be potential roosting spots for several birds and a safe habitat for diverse small mammal and macro-life in the future.

source: http://www.deccanherald.com / Deccan Herald / Home> Supplements> Environment / by Gana Kedlaya / DHNS – September 08th, 2015

Mysore Coffee Curing Co-op. Society (MCCCS) : General body held in city

Business & Economy, Coffee News, Coffee, Kodagu (Coorg)

MCCCS Convenor Mookonda Bose Devaiah is seen addressing the Society’s General Body meeting at CITB choultry in Hebbal this morning as Society’s Liquidator C. Girish looks on. Picture right shows a section of members who attended the meeting.
MCCCS Convenor Mookonda Bose Devaiah is seen addressing the Society’s General Body meeting at CITB choultry in Hebbal this morning as Society’s Liquidator C. Girish looks on. Picture right shows a section of members who attended the meeting.

Mysuru :

The General Body Meeting of Mysore Coffee Curing Co-operative Society (MCCCS), KRS Road, was held at CITB Choultry in Hebbal here this morning after a gap of 17 years.

The meeting began in the presence of Liquidator C. Girish, with 223 members of the MCCCS attending the General Body, much more than the 115 members required for the quorum.

As soon as the meeting began, the members alleged that the six Liquidators appointed by the Government since 1999, following the ceasing of functioning of the Society in 1998, worked for the downfall of the Society rather than working for reviving it by taking appropriate measures.

The members unanimously demanded the government to recall the Liquidator and restore the composition of the Society which was in place between 1953 and 1998 when it functioned.

Liquidator Girish, who is currently in charge, recorded the proceedings of the General Body and said that the same will be sent to the Registrar of Co-operative Societies for due consideration. It is upto the Government to take further decision on the revival of the Society, he added.

The MCCCS Members Welfare Committee Convenor Mookonda Bose Devaiah, Co-convenors Kolathanda Subramani, K.B. Hemachandra, Alamengada Bose Mandanna, s.p. prasanna, Mathanda c. poovaiah, Kolera Jaya Chengappa, Mahesh, Thirumallesh, Nandu Subbaiah, Arun Machaiah and others were present.

A total of 223 members of the Society from Hassan, Kodagu, Chikkamagalur and Mysuru districts attended the meeting.

Society’s history: Coffee growers of Kodagu, Hassan, Mysuru and Chikkamagalur districts got together in 1953 to establish the MCCCS by procuring 10 acres and 23 guntas of land along KRS road in Mysuru.

The Society, with 1,159 members, functioned normally for many years and had also constructed several godowns. However, when the sale of coffee was freed from restriction and free market was allowed, the Society began to incur loss and gradually ceased functioning in 1998, following which the State Government appointed a Liquidator.

Later on, subsequent Liquidators auctioned 5 acre, 23 guntas of land, besides bringing down the 9 godowns built in the premises, in order to clear the Society’s debts and for various other reasons.

Despite having cleared the Society’s debts and meeting other obligations, the Liquidators tried to dispose off the remaining 5 acres of landed property belonging to the Society, through a public auction, when the members moved the High Court seeking a stay.

The High Court, which heard the Society’s plea, granted a stay on July 9, 2015 against the auction of the remaining landed property which is estimated at more than Rs. 20 crore.

source: http://www.starofmysore.com / Star of Mysore / Home> General News / September 01st, 2015

Coffee Board pensioners’ meet

Arts, Culture & Entertainment, Coffee, Kodagu (Coorg)

The Coffee Board Pensioners Association, Bengaluru, has organised a meeting of the Coffee Board pensioners residing in Mysuru and Kodagu districts here on August 15, on the premises of the Coffee Board Biotechnology Centre, Dr. S. Radhakrishnan road, Manasagangothri, here.

All the members of the association have been asked to attend the meeting.

Those who have not yet become members of the association could also attend the meeting and enrol as members of the association.

For further details, contact C.S. Srinivasan on 9886319648.

source: http://www.thehindu.com / The Hindu / Home> National> Karnataka / Mysuru – August 12th, 2015

Coffee Day to adopt Belur and Halebid

Arts, Culture & Entertainment, Business & Economy, Coffee News, Coffee, Kodagu (Coorg)

Will improve basic infrastructure to attract tourists in large numbers

Belur and Halebid, two major tourism destinations in Hassan district, are expected to get a facelift following the Tourism Department’s initiative to involve non-governmental organisations in driving tourists to the State.

Coffee Day Enterprises Ltd. (CDEL) has shown interest to adopt the two tourism destinations, known for the Hoysala period temples, to improve basic infrastructure so as to attract tourists in big numbers.

The department launched the Adopt Tourist Destination programme in 2014. M.R. Prakash, Assistant Director of the department, told The Hindu on Tuesday that CDEL had shown interest to adopt Belur and Halebid.

“The company’s proposal is being examined by the department. The objective is to provide basic amenities such as drinking water, washrooms and toilets, and improve connectivity to the destinations,” said the officer.

When The Hindu contacted Devahuti, in-charge of media relations in CDEL, she said the company had shown interest to adopt the two places.

Details of the mode of developing these destinations will be made public later, she said.

“The CDEL has entered into an understanding with the Archaeological Survey of India and the Department of Tourism for infrastructure development in Belur and Halebid. The company is hoping to help in development work by building drinking water facilities, washrooms and toilets for tourists along with soft skill training programmes for tourist guides,” a note issued by the company said.

Belur and Halebid are widely known for the Hoysala sculptures.

The Channakeshava temple in Belur (left) and the Hoysaleshwara temple in Halebidare famous tourist destinations.— File Photos: Prakash Hassan
The Channakeshava temple in Belur (left) and the Hoysaleshwara temple in Halebidare famous tourist destinations.— File Photos: Prakash Hassan

However, the places lack basic amenities for tourists. The State government is making efforts to develop the place around Channakeshava Temple in Belur by acquiring private properties.
HalebeduKF27aug2015

Similarly, in Halebid, tourists encounter problems of finding decent hotels.

“We can develop these centres with the help of private companies. Then, the number of those visiting these destinations will also increase,” Mr. Prakash added.

source: http://www.thehindu.com / The Hindu / Home> National> Karnataka / by Staff Correspondent / Hassan – August 26th, 2015

Mysore Coffee Curing Co-op. Society meeting on Sept.1

Agriculture, Business & Economy, Coffee, Kodagu (Coorg)

Virjapet (Kodagu) :

The General Body Meeting of Mysore Coffee Curing Co-operative Society (MCCCS) will be held in Mysuru on Sept.1.

Announcing this at a press meet at Virajpet Press Club on Thursday, the Society’s former President Karnanda Raghu Somaiah called upon all members of the Society to attend the meeting.

Pointing out that the general body meeting of MCCCS, which is one of the most prestigious Co-operative Societies in Mysuru region, has not been called for years, Somaiah said that he had brought a stay from the High Court on July 9, 2015 on the moves to publicly auction the Society’s landed property estimated at about Rs. 200 crore. Earlier, the Court of the Registrar of Co-operative Societies at Bengaluru had dismissed a petition in respect of the appointment of Liquidator and not convening the general body meeting, he said.

Continuing he said that the Liquidator has asked all the members to attend the Sept.1 meeting at Mysuru while setting some conditions. The Liquidator has also asked the members to produce the original copy of share certificates held by them, he said.

Stating that a few members of the Society have died between 1998 and 2014, he demanded the Liquidator to allow all those having ID cards to attend the meeting and to ensure that the meeting is conducted as per the procedures.

Stressing on the need for an united and organised fight for the revival of the society, Somaiah said that the list of Kodagu members of the MCCCS was available at Virajpet Town Bank. The members from Kodagu can visit the Bank during working hours and check the list for their names, he added.

Coffee planter and MCCCS office-bearer Kolathanda W. Bopaiah, in his address, sought co-operation of all the members for the survival of the Society.

Kodagu Central Co-operative Bank former President Mathanda A. Ramesh, K.W. Ganapathy, K.M. Charmana, C.K. Ganapathy, K.P. Nagaraj and others were present at the press meet.

source: http://www.starofmysore.com / Star of Mysore /Home> General News / August 23rd, 2015

Coffee Day gets SEBI nod for Rs. 1,150-cr IPO

Business & Economy, Coffee News, Coffee, Kodagu (Coorg)
Cafe Coffee Day in Bangalore
Cafe Coffee Day in Bangalore

New Delhi :

Coffee Day Enterprises, which runs the country’s biggest coffee chain Cafe Coffee Day, has received markets regulator SEBI’s go—ahead to raise Rs. 1,150 crore through initial public offering (IPO).

The firm had filed its draft red herring prospectus (DRHP) with SEBI through its lead merchant banker Kotak Mahindra Capital Company Limited on June 26 this year.

Securities and Exchange Board of India (SEBI) issued its final observations on the draft offer documents on August 14, which is necessary for companies to launch any public offer.

As per the draft paper, the company intends to raise an estimated Rs. 1,150 crore to aid its expansion plans and pay off debt.

The company, which has got private equity giants like KKR, Stanchart PE and New Silk Route as its investors, has reserved Rs. 15—crore worth shares for staff.

The company proposes to list its shares on the BSE and the NSE.

Coffee Day Enterprises is the parent company of the Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Limited (earlier known as Amalgamated Bean Coffee Trading Company Limited), and its subsidiaries.

Coffee Day Global Limited had a total income of Rs. 1,154 crore and operating profit of Rs. 189 crore in 2013—14 fiscal.

Out of the capital raised through the issue, the parent company plans to utilise nearly Rs. 632 crore to pay off debt and the remaining to open new stores, set up coffee bean roasting plants and make vending machines, the proposal said.

In the next two financial years, the company plans to open over 215 outlets and set up 105 kiosks.

source: http://www.thehindubusinessline.com / Business Line / Home> Markets / PTI / August 17th, 2015

Coffee Planters delegation meets Union Commerce Minister

Business & Economy, Coffee, Kodagu (Coorg), Famous Personalities of Kodagu / Coorg, Leaders
Mysuru-Kodagu MP Pratap Simha and others are seen presenting the memorandum to Union Commerce Minister Nirmala Seetharaman in New Delhi recently.
Mysuru-Kodagu MP Pratap Simha and others are seen presenting the memorandum to Union Commerce Minister Nirmala Seetharaman in New Delhi recently.

New Delhi :

A delegation of Kodagu Coffee Growers Federation, led by Mysuru-Kodagu MP Pratap Simha, met Union Commerce Minister Nirmala Seetharaman in New Delhi recently and presented a memorandum, demanding announcement of permanent solution for the problems being faced by coffee growers.

Speaking on the occasion, Nirmala Seetharaman said she would take appropriate action on loan waiver, package announcement besides addressing other related issues, after going through the facts and figures presented by the Coffee Board.

The delegation also met the Minister’s Secretary Rajani Ranjan Rashmi and discussed with her the losses faced by the coffee growers on account of the vagaries of nature.

Earlier, the delegation met former Karnataka Chief Minister and MP B.S. Yeddyurappa, during which he assured that he would raise the issue of problems of coffee planters along with that of the difficulties faced by growers of horticultural crops such as grapes, pomegranate etc., in the Parliament.

The delegation also met Rajya Sabha MP from Karnataka Kupendra Reddy and discussed with him the issues concerning coffee planters.

The MP said that all MPs representing coffee growing regions should come together in bringing pressure on the Govt. for addressing their issues and added that he would make all efforts to draw the attention of the Government towards the problems being faced by the coffee planters.

Federation President Ajjamada Shankaru Nachappa, Secretary Annira Harish Madappa, Treasurer Maanira Vijaya Nanjappa, Director Kaibulira M. Harish, officer-bearers Jammada Mohan Madappa, Maanira Muthappa, Ajjamada Chengappa and Machamada Sumanth, ZP President Chodumada Sharin Subbaiah, Coffee Board member Adengada Tara Ayyamma and others were part of the delegation.

source: http://www.starofmysore.com / Star of Mysore / Home> General News / Thursday – August 13th, 2015