Cholamandalam Investment and Finance Company has received an approval for setting up of a Housing Finance Company (HFC) as a subsidiary. The board of directors at its meeting held on December 20, 2017 has approved for the same. The board also approved necessary authorizations to make an application to National Housing Board and do the needful in this connection.
Besides, the board has approved issuance of 500 Masala Bonds in the nature of Secured Redeemable, Non-Convertible Debentures of a face value of Rs 1 crore each at par aggregating to Rs 500 crore in one or more tranches on private placement basis.
Cholamandalam Investment and Finance Company is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.
Company Name | CMP |
---|---|
Bajaj Finance | 7327.70 |
Shriram Finance | 2455.85 |
Aditya Birla Capital | 216.60 |
SBI Cards AndPayment | 748.80 |
Chola Invest & Fin. | 1168.85 |
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