Coffee Day Global Ltd and RARE ARC enter into OTS

Coffee Day Global Limited, material subsidiary of Coffee Day Enterprises Limited and RARE Asset Reconstruction Company Limited ("RARE ARC") approved in-principle for One Time Settlement of the outstanding loans(assigned by Karnataka Bank Limited, RBL Bank Ltd and Kotka Mahindra Bank Limited)

Total OTS amount of INR 40,00,00,000/-, in full and final settlement of all dues will be paybale in two tranches:

- INR 25,00,00,000/- payable immediately upon acceptance of the OTS, proposed to be funded through sale of mortgaged land, and

- INR 15,00,00,000/- payable within one year from acceptance of the OTS.

Shares of Coffee Day Enterprises Limited was last trading in BSE at Rs. 35.23 as compared to the previous close of Rs. 35.57. The total number of shares traded during the day was 33451 in over 189 trades.

The stock hit an intraday high of Rs. 36.01 and intraday low of 35.12. The net turnover during the day was Rs. 1184106.00.

Source : Equity Bulls

Keywords

CoffeeDayEnterprises INE335K01011 QSR Cafe CoffeeDayGlobal OTS RAREARC