RPG Enterprises, one of India's largest industrial conglomerates, has decided to foray into coffee chain business.

The company would set up a Joint Venture with an U.S. company to enter the segment.

Under the arrangement, the US company would have 20% stake in the Aubonpain range of coffee chains, while RPG Enterprise will have 80% stake in the business.

A company official, who did not want to be identified, has informed that initially, six 'standalone' coffee chains would come up at Bangalore by the last week of October.

Apart from latest development, RPG Enterprises also proposed to spend Rs 15,000 crore in the power sector in five states in the next five years, including hydropower and non-conventional forms of energy.