Coffee Day Enterprises plans to raise Rs 305 crore via non-convertible debenture issuance

Coffee Day Enterprises, which runs Cafe Coffee Day, on Wednesday said its board will meet later in the 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.

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.