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Coffee Day Enterprises, which runs Cafe Coffee Day, today said its board has approved raising of Rs 305 crore through issuance of non—convertible debentures (NCDs) on private placement basis.
“The company at its board meeting held today inter alia approved draft disclosure documents for issue of rated, unlisted non—convertible debentures of Rs 305 crore on private placement basis,” Coffee Day Enterprises said in a BSE filing.
The company will use the NCD proceeds for replacing the existing debt.
The coffee chain’s Rs 1,150-crore initial public offer (IPO) had hit the market in October 2015.
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