Coffee Day Enterprises, which runs coffee chain under brand Cafe Coffee Day, on Saturday said its subsidiary Sical logistics plans to raise Rs00 crore through issuance of non convertible debentures (NCDs) on private placement basis.
“The company’s subsidiary Sical logistics ltd at their Board meeting have approved the proposal to raise a fund of Rs100 crore by way of issue of secured non convertible debentures on private placement basis,” Coffee Day Enterprises said in a BSE filing. The company said it will utilise the proceeds of funds raised for redemption of an existing NCDs of Kotak Mahindra Bank.