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."
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Madrasa teacher is recently accepted Islam. His surname was Kotian, he might be Narain Kotian's relative.
Please confirm,and hang him till his death.
oho...naren koti .where were you ..during ragaveshvara premalata ...harikatha..scandal ..do you feel proud abt ragaveshvara sree..you may find pejavara supporting ragavesvara...and contributed his part with him...but here you cant find anyone Muslim supporting madrasa teacher ...
Naren they love camels and bacchaabaazi is practiced in Afghan and pakis
Naren Anna,
When did you change your location from Thai Naadu to Singapore?
See below what perfect manuals have to say on the topic:-
In Hinduisum:-
Homosexuality is regarded as one of the possible expressions of human desire, Although some Hindu dharmic texts contain injunctions against homosexuality, a number of Hindu mythic stories have portrayed homosexual experience as natural and joyful, There are several Hindu temples which have carvings that depict both men and women engaging in homosexual sex
in Islam:-
In more than one place in Holy Quran, Allah recounts to us the story of Lut's people, and how he destroyed them for their wicked practice of homosexuality, there is consensus among Muslims and the followers of all other religions that sodomy is an enormity, It's even uglier that adultery,
Now, judge yourself, This madrasa teacher influenced by whom????
Naren Kotian, He must be inspired by your God men Swami Nithyananda, Ashram Bapu, Sant Rampal, Baba Ramdev, Swami Agnivesh, Chanraswami, Swami Raghaveshwara Bharati!!
@ Naren Kotian,
DONT TALK TOO MUCH OKK..
Some pandits and ustads have unnatural sex with cows too. Both should be hanged.
Indian law is very weak. Nobody cares for the law.
Some pandits and ustad have unnatural sex with cows too. Both should be hanged
Our law is very weak.
Haha where are jihadis ...faizhal Bhai ..yelri hogideera..beef business jora ? ..haha ...Dana kadiyokke ballu hidkondu kaaykondu kootideera henge ...eddu banree ...nimma ummah guru kanree...3 janakke chummah kotkondu iddaaga sikki haakondavne ...I heard it is in your perfect manual Anthe howda...? ...haha
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