Since July 26, 2019, the stock has tanked 68 per cent after its founder VG Siddhartha was found dead. The stock has plummeted from a level of Rs 195 to hit an all-time low of Rs 63 on Friday, August 16. In comparison, the benchmark S&P BSE Sensex has slipped 1.5 per cent during the same period.
Coffee Day Enterprises
said it is confident that the ongoing divestments will significantly reduce the debt position of Coffee Day Group. The financial position and asset base of the Coffee Day Group will be comfortable to service the debt obligations of the entire group in full.
"The debt position of Coffee Day Group (excluding Sical Logistics and Magnasoft) post repayment of debt out of proceeds from sale of Global Village is expected to be around Rs 1,000 crore in the next 45 days. The company expects to have a comfortable position to service the reduced debt obligations," it added.
Last week, Coffee Day Enterprises
announced its intent to sell one of its prized assets, Global Village Tech Park, to private equity major Blackstone for a valuation ranging between Rs 2,600 crore and Rs 3,000 crore.
Sical has been working on divestment of certain assets. The proceeds from the divestment are expected to significantly reduce the debt in Sical, the company said.
Shares of Sical Logistics were, too, locked in the upper circuit of 5 per cent at Rs 36 on the BSE. There were pending buy orders for 346,854 shares on the NSE and BSE, the exchanges data show.