Coffee Day Enterprises on Saturday said its total debt is expected to come down to around Rs 1,000 crore after adjusting the proceeds from the sale of its Global Village Tech Park in Bangalore to Blackstone.

“The company has already announced the divestment of Global Village Tech Park held by its subsidiary Tanglin Developments for Rs 2,600-3,000 crore. After required statutory payments, the debt position of Coffee Day Group will reduce by Rs 2,400 crore,” Coffee Day Enterprises said in a regulatory filing.

The debt position is expected to be around Rs 1,000 crore in the next 45 days, it added. According to the filing, total debt of Coffee Day Enterprises as on July 31, 2019 was Rs 3,472 crore.

The company said its arm Sical Logistics has also been working on divestment of certain assets. “The proceeds from the divestment is expected to significantly reduce the debt in Sical,” it added. Total debt of Sical Logistics is Rs 1,488 crore.

“The financial position and asset base of Coffee Day Group will be comfortable to service the debt obligations of the entire group in full. We reiterate that the debt obligations will be honoured. We request all lenders and creditors to give sufficient time to honour the commitments and to unlock the true potential value of the assets,” the company said.