Left Menu
Development News Edition

Coffee Day Enterprises ropes in IDFC Securities to identify strategic options

PTI | New Delhi | Updated: 07-09-2019 15:52 IST | Created: 07-09-2019 15:52 IST
Coffee Day Enterprises ropes in IDFC Securities to identify strategic options

Cafe chain operator Coffee Day Enterprises on Saturday announced appointment of IDFC Securities as an advisor to identify strategic options and advise it on refinancing of existing debt. Strategic options include divestment of stake in Coffee Day Global and other group company, according to a regulatory filing by the company.

"The company in its meeting of the executive committee has appointed IDFC securities as the advisor of company and its subsidiaries for identifying the strategic options for Coffee Day Enterprises Ltd (CDEL) including divestment of its holding in Coffee Day Global Ltd and any other group company (other than SICAL Logistics Ltd)," Coffee Day Enterprises said in a regulatory filing. IDFC Securities would also advise on refinancing of existing debt and raising additional facilities to repay debt in CDEL and its subsidiaries.

Cafe Coffee Day chain of coffee houses, operated by CDEL, has around 1,700 outlets across India. The company has been in trouble after its founder VG Siddhartha took his own life as debt strains began to emerge in his company. Since Siddhartha's death, Coffee Day Enterprises has been trying to divest its assets to pare its debts.

Recently, CDEL's board approved selling its Global Village Tech Park in Bengaluru to Blackstone to help bring down its borrowings. The deal is expected to raise up to Rs 3,000 crore for CDEL.



South Africa's COVID-19 response: Surprising outcomes or just poor data management?

South Africa has been committed to improving its health information system and shows that a robust digital has considerable scope to improve healthcare for the entire population. But the COVID-19 pandemic has highlighted that significant ga...

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...


Latest News

EXPLAINER-Who's fighting in Nagorno-Karabakh, and why does it matter?

Fierce fighting has broken out between Azerbaijan and its ethnic Armenian enclave of Nagorno-Karabakh, a new and dangerous eruption of a decades-old conflict.WHERE AND WHAT IS NAGORNO-KARABAKH Its a mountainous, forested patch of land that ...

Ashok Dinda to play for Goa in upcoming domestic season

Seamer Ashok Dinda, who was sidelined by Bengal in the previous season, will play for the Goa Ranji team in the upcoming domestic season, which is likely to be a truncated affair owing to the COVID-19 pandemic. The development of Dinda join...

Key Pakistan opposition figure's arrest political, party says

Pakistans anti-graft agency arrested the parliamentary leader of the opposition on corruption charges on Monday after a court rejected a plea for bail, a move his party says is linked to planned opposition protests against Prime Minister Im...

Plea in HC claims AAP MLA Preeti Tomar furnished false educational qualifications

A plea was on Monday moved in the Delhi High Court challenging AAP MLA Preeti Tomars election from the Tri Nagar assembly constituency on the ground that she allegedly gave false declaration about her educational qualifications in her nomin...

Give Feedback