Coffee Day Enterprises appoints IDFC for asset sale

IDFC will also advise the company on refinancing existing debt and repaying debt in CDEL and its subsidiaries, the company said. Shares of the company rose about 5% to close at Rs 64 on Monday.TNN  |  September 10, 2019, 12:44 IST

Highlights

  • IDFC will also advise the company on refinancing existing debt and repaying debt in CDEL and its subsidiaries, the company said,
  • Coffee Day has been exploring options to reduce its debt ever since its founder V G Siddhartha took his own life in July,
Coffee Day Enterprises appoints IDFC for asset sale BENGALURU: CCD owner Coffee Day Enterprises (CDEL) said it has appointed IDFC Securities to evaluate strategic options for the company including divestment of its holding in Coffee Day Global and other group companies, excluding Sical Logistics.

IDFC will also advise the company on refinancing existing debt and repaying debt in CDEL and its subsidiaries, the company said. Shares of the company rose about 5% to close at Rs 64 on Monday.

Coffee Day has been exploring options to reduce its debt ever since its founder V G Siddhartha took his own life in July, citing his inability to tackle the company’s debt and stand pressure from investors.