Coffee Day Enterprises appoints IDFC for asset sale
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
Cafe Coffee Day is owned by Coffee Day Enterprises. (File photo)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.
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.
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