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Coffee Day Enterprises, which runs coffee chain under brand Cafe Coffee Day, said its subsidiary Sical Logistics plans to raise ₹100 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.
The company said it will utilise the proceeds of funds raised for redemption of an existing NCDs of Kotak Mahindra Bank. “Kotak Mahindra Bank, the present holders of 12.75 per cent secured non convertible debentures of ₹100 crore issued by our subsidiary company in 2013 through the IDBI Trusteeship communicated their decision for an early redemption to fully redeem the debentures on or before August 31,” the company said in a BSE filing.
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