Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."
New Delhi, Nov 1: Popular television journalist Arnab Goswami has reportedly resigned as the Editor-in Chief of Times Now. Arnab was not seen on his prime time show The Newshour in couple of days.
Comments
He earned lot of money through spreading false news. After getting lot of money. now he decided to start his own to suck BJP.
I think the center has given him the cooked story to prepare himself before the Bhopal fake encounter case to bohw bohw on the news-hour....thats y he resigns it seems....now he knows the real fact of the feku......Allah will give him Hidaya...
Who ever speaks for Mr .Modi will get XYZ Security. Soon Anupum Kher will also get same facility.Ordinary People work hard and pay TAX. But our Modi Govt uses for all these useless people's Security.
India is Growing India is Shining.
LET HIM GO... WHO WANTS TO KNOW THE REASON... I DON'T.... AND PLZ TAKE AWAY HIS GOVT SECURITY... DONT WASTE OUR TAX MONEY ON SUCH PEOPLE ..............
Finally coward has resigned. Great news for our country's peace and prosperity.
Surely his bad time is nearing, AWASANA KALADALLY VIPAREETA BUDDI
He will start reading news in Khaki chaddi now
Definitely some thing worst expected from this fellow. Might be joined with some anti nation communal group. Other than that nothing nation will expect.
God save our media and the nation.
Jai Hind
Wasting Tax payers money on useless reporter's security.
He will start new channel. RSS now
He will start Patanjali Times with Baba Ramdev.
He is going to make a new news channel with Modi ....Fakes Now.....
Or next Modis spokesperson.....sure....
May be he read the QURAN and understood the REALITY on how EVILs in this world trap people by spilling out venom & by twisting the real FACT.
Arnab goswami where are. You? Nation is worried
When are you coming back
Arnab please come back soon... People are asking \itna sannata kyu hai bhai!!!\". I have not been able to focus at work, getting irritated quickly, not able to eat my dinner, getting sleepless nights.., please come back and tell the nation that you are not dumping all of us!!!
Your viewer from New York!"
MOHAN BHAGAT IS WAITING WITH HIS ARMS OPEN.
Thank god... Finally an end to noise pollution, after Diwali.
Peaceful new year ahead
thank God. Now Indian Journalism is saved from disaster . Work of journalist is to preach truth not to bark and fire in air
The viewers will miss his famous style of questioning the guest panelists: THE NATION WANTS TO KNOW!!!!!!!!
We miss your News hour . Waiting to see you launch a global channel.
He will start a new channel: Name will be TIMES BOW WOW
Crazy man!
Modi would take him in his cabinet.....cant say....\Birds of feather flock together\""
Add new comment