Coffee Day Enterprises is expecting its total debt to reduce to around Rs 1,000 crore after adjusting the proceeds from sale of its Global Village Tech Park in Bengaluru to Blackstone.
The company had already announced the divestment of Global Village Tech Park held by its subsidiary Tanglin Developments for an aggregate consideration of Rs 2,600-3,000 crore.
On receipt of the consideration for the sale of Global Village after payment of required Statutory payments, the debt position of Coffee Day Group will reduce around by Rs 2,400 crore. The debt position of Coffee Day Group post repayment of debt out of proceeds from sale of Global Village is expected to be around Rs 1,000 crore in the next 45 days.
Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.
