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Cholamandalam Investment rises on getting nod for Scheme of Amalgamation

31 Oct 2012 Evaluate

Cholamandalam Investment is currently trading at Rs. 231.10, up by 5.05 points or 2.23 % from its previous closing of Rs. 226.05 on the NSE.

The scrip opened at Rs. 230.00 and has touched a high and low of Rs. 235.00 and Rs. 230.40 respectively. So far 19,276 shares were traded on the counter.

The NSE  stock of face value Rs. 10 has touched a 52 week high of Rs. 242.50 on 26-Oct-2012 and a 52 week low of Rs. 106.60 on 22-Dec-2011.

The promoters holding in the company stood at 62.28% while Institutions and Non-Institutions held 29.37% and 8.35% respectively.

Cholamandalam Investment and Finance Company has received an approval for Scheme of Amalgamation of the Company’s wholly owned subsidiary viz. Cholamandalam Factoring (CFACT) with itself, subject to the approval of shareholders, creditors, regulatory authorities, and sanction of the Scheme by the Hon'ble High Court of Judicature at Madras. The proposed ‘Appointed Date’ for amalgamation is April 01, 2012.

The board at its meeting held on September October 30, 2012 has approved the same.

Cholamandalam Investment 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. It is emerging as a high growth company in the retail lending space with a branch network of over 220.

Chola Invest & Fin. Share Price

1656.60 18.30 (1.12%)
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