On Thursday, Coffee Day Enterprises Limited in a stock exchange filing said that it has defaulted payments of interest on its total debt worth Rs 489.48 crore.
On "loans or revolving facilities like cash credit from banks or financial institutions" worth Rs 280 crore, the parent company of Cafe Coffee Day cafe chain defaulted interest worth Rs 1.48 crore. As for debt in the form of "Unlisted Debt Securities i.e NCDs and NCRPS," interest default was to the extent of Rs 8 crore.
The total debt of Rs 489.48 is as of 31 December 2019.
Shares of Coffee Day Enterprises were trading higher by 4.69 percent at Rs 43.50 on NSE.
In September 2019, CDEL had signed definitive agreements with private equity major Blackstone and Salarpuria Sattva Group for sale of Global Village Tech Park in Bengaluru for Rs 2,700 crore to bring down the group's total debt burden.