Coffee Day Enterprises, which runs Cafe Coffee Day, on Wednesday said its board will meet this week to consider raising up to Rs 305 crore through issuance of non-convertible debentures (NCDs). “…A meeting of Board of Directors of our company is scheduled to be held on Saturday, March 11th…to consider the issuance of rated, redeemable, secured, un-listed non-convertible debentures for an amount not exceeding Rs 305 crore,” Coffee Day Enterprises said in a BSE filing.
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The company, however, did not elaborate on end use of funds.
The coffee chain’s Rs 1,150-crore initial public offer (IPO) had hit the market in October 2015.
Shares of Coffee Day Enterprises closed 0.84 per cent lower at Rs 231.45 on the BSE.