Cholamandalam Investment & Finance Company has raised Rs 300 crore through Qualified Institutions Placement (QIP) issue. The floor price of the issue was fixed as Rs 279.60.
The overall demand for the issue remained 2.3 times and Axis bank remained the banker for the issue.
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.