Stocks

Coffee Day Enterprises shares tumble on bank loan default

BL Internet Desk | Updated on January 10, 2020 Published on January 10, 2020

A Cafe Coffee Day coffee shop, operated by Coffee Day Enterprises Ltd. (File photo)   -  Bloomberg

Shares of Coffee Day Enterprises tumbled 5% today on the bourses after it defaulted on payment of loans taken from banks and others.

In a notice to stock exchanges, the coffee chain said it had defaulted on loans worth ₹280 crore taken from banks and financial institutions.

The default on interest payment on these loans was ₹1.8 crore.

The stock was down 5% to Rs 41.20 on the BSE today.

The total default on interest payment on loans worth ₹200 crore raised from instruments such as NCDs and NCRPs was ₹8 crore.

Published on January 10, 2020
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