Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Fri, Sep 20, 2019 | Last Updated 7:19 pm IST

Menu &Sections

Search

Coffee Day announced its debt after sale of Global Village Tech Park in Bengaluru

Coffee Day announced its debt after sale of Global Village Tech Park in Bengaluru
Coffee Day announced its debt after sale of Global Village Tech Park in Bengaluru
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

As per report the Coffee Day group on Saturday said its total outstanding debt was Rs 4,970 crore, including Rs 4,796 crore secured loans and Rs 174 crore in unsecured loans. The Bengaluru based company in a regulatory filing on the BSE stated "The management has decided to clarify its debt position, the expected reduction and post conclusion of the ongoing divestment transactions”.

Coffee Day announced its debt after sale of Global Village Tech Park in Bengaluru

Furthermore of the total debt, that of Coffee Day Enterprises Ltd is Rs 480 crore, Coffee Day Global Ltd is at Rs 1,097 crore, Way 2 Wealth Ltd at Rs 121 crore, Tanglin Developments Ltd at Rs 1,622 crore, Tanglin Retail Reality Developments Ltd Rs 15 crore, Coffee Day Hotels and Resorts Ltd Rs 137 crore, Sical Logistics Ltd Rs 1,488 crore and Magnasoft Consulting india Ltd Rs 10 crore. Meanwhile the company's board on August 14 decided to sell Global Village Tech Park of its subsidiary Tanglin Developments Ltd in Bengaluru to the US based private equity firm Blackstone for Rs 2,600-3,000 crore over the next 30-45 days.



It said in the filing "The group's debt position will reduce to Rs 2,400 crore on receipt of the Global Village's sale proceeds from Blackstone and settlement of statutory payments”. Moreover the company is expected to be in a position to service the reduced debt obligations. Poojary said "Sical has been working on divestment of certain assets, whose proceeds will reduce its debt”. Perhaps the company has requested the lenders and creditors to give it time to honor the commitments and unlock the potential value of its assets.


Coffee Day announced its debt after sale of Global Village Tech Park in Bengaluru
5/ 5 - (1 votes)
Add To Favourite
More from author
Telangana planning to declare 2020 as AI Year
Nirmala Seetharaman said Centre asked PSBs to Lend More
Transferring Money through IMPS is the Best Platform across Globe
P Chidambaram complaints about various ailments, No Chair No Pillow in Tihar Jail
Is banning banner culture not an easy task in Tamilnadu?
Nationwide strike by Tamilnadu Truckers against MV Act
BJP Leader Swami Chinmayanand arrested in rape case
Karnataka Govt set to introduce a draft bill to establish regulatory sandboxes in Karnataka
Successful woman Sheela Kochouseph Chittilapally, Managing Director, V-Star
IDBI Bank's Board approves Rs 4,743 crore to LIC
Treatment for Chikungunya through these Foods
Why Trump carries cash in his back pocket?
Some waxing tips teenage girls should follow
Why Pakistan PM says until curfew lifted in Kashmir, no talks with India?
Health tips women should follow to stay healthy
Vodafone Idea largest telecom operator in India in July: TRAI
Hindu Deities, How they can help you?
P Chidambaram's judicial custody extended till October 3 in INX Media Case
I did not impose Hindi on regional languages: Amit Shah
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional