The coffee chain company founded by late coffee tycoon VG Siddhartha, Coffee Day Enterprises Ltd. (CDEL) has put its Sical Logistics unit on the block as it seeks to pare debt, reported Livemint. ICICI Securities has been hired by Coffee Day Enterprises Ltd. as adviser for the potential transaction, which could see the group holding company raise Rs 1,000- Rs 1,500 crore, as it plans to sell the entire promoter stake and assets of Sical Logistics. The debt of the company at the consolidated level is around Rs 4,400 crore.
This debt is expected to be brought down around Rs 2,000 crore because of the sale of the Global Village Tech Park, while a part of the proceeds from this sale will go to CDEL’s books towards working capital requirements. 
 On 7 September, CDEL hired IDFC Securities to advise on strategic options including the sale of its holding in Coffee Day Global Ltd, the unit that owns India’s largest coffee chain, as well as on refinancing of the group’s debt.
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