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Coffee Day expects YES Bank nod to Global Tech Park deal in 10 days

Subsidiary Sical Logistics is eyeing a pact with institutions soon to raise debt capital

Cafe Coffee Day outlet in Connought Place in New Delhi | Photo - Dalip Kumar
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Cafe Coffee Day outlet in Connought Place in New Delhi | Photo - Dalip Kumar

Debasis MohapatraBibhu Ranjan Mishra Bengaluru
Coffee Day Enterprises (CDEL) sees its working capital position improving by the second week of January. 
 
This is because the company expects proceeds of the ‘Global Tech Park’ sale to go through during this period apart from seeing some debt capital flow from financial institutions.
 
Sources privy to the development said though YES Bank is yet to give approval to the (Global Tech Park) deal, it is likely to come in the next 10 days.
 
“In the last five months, after the tragic demise of V G Siddhartha, the company has not received even a paisa from banks. If Blackstone

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First Published: Dec 27 2019 | 8:47 PM IST

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