Cholamandalam Investment and Finance Company has issued unlisted Non-Convertible Debentures (NCDs) in tenors of 3 to 5 years for Rs 1,056.90 crore to Asian Development Bank (ADB).
ADB provides medium and longer term financing to banks, NBFCs and FIs, with focus on promoting financial inclusion in lesser developed regions, especially for underserved and lower income customer segments towards support for creation of physical income-generating assets apart from encouraging greater gender equality and participation.
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.
