Cholamandalam Investment and Finance Company has received an approval for issuance of Non-convertible Debentures up to Rs 11,500 crore. The Board of Directors of the company at their meeting held on July 26, 2018, approved the same.
This includes issuance of 1,00,000 secured and/or unsecured redeemable, Non-Convertible Debentures of a face value of Rs 10 lakh each at par aggregating to Rs 10,000 crore in one or more tranches on private placement basis, issuance of 10,000 unsecured Redeemable, Non-Convertible Debentures in the nature of Subordinated debt of a face value of Rs 10 lakh each at par aggregating to Rs 1,000 crore in one or more series on private placement basis and issuance of 5000 unsecured Redeemable, Non-Convertible Debentures in the nature of Perpetual debt of a face value of Rs 10 lakh each at par aggregating to Rs 500 crore in one or more series 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.
