Coffee Day subsidiary Sical Logistics announced its plan to raise Rs 100 cr through NCD’s

Coffee Day Enterprises, which runs cafe chain under the brand Cafe Coffee Day, on Saturday announced that its subsidiary Sical Logistics would raise Rs 100 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

At their Board meeting, the company’s subsidiary Sical Logistics Ltd,  approved the proposal to raise a fund of Rs 100 crore by way of issue of secured non-convertible debentures (NCD), on private placement basis.


The company informed that it will use the proceeds of the funds raised for redemption of an existing NCD of Kotak Mahindra Bank.

Kotak Mahindra Bank, the present holders of 12.75 per cent secured non-convertible debentures of Rs 100 crore issued by the subsidiary company in 2013 through the IDBI Trusteeship communicated their decision for the redemption to fully redeem the existing debentures before August 31.

A 52-week high and low quote of the share being at Rs. 328.00 and Rs. 219.40 respectively.

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