On August 8 order, NCLT Bengaluru admitted an insolvency plea filed by IDBI Trusteeship Services Ltd, which is one of Coffee Day Enterprises Ltd’s creditors, over an alleged default of Rs 228.45 crore
YES Bank and Rabobank, two lenders to Coffee Day Global (CDGL), are allegedly blocking the deal, demanding repayment of their dues before granting a no-objection certificate (NOC) to the proposed deal.
Debenture holders have the right to dilute 10.55 percent of the pledged shares
Ashwani Gujral of ashwanigujral.com recommends buying Coffee Day, PVR, Colgate Palmolive, Gruh Finance and Capital First.
GoAir would be the second domestic carrier to come out with an IPO after rival IndiGo, which is all set for little over Rs 3,200-crore initial share sale on October 27 amid the season of companies queueing up to tap the capital market.