Cholamandalam Investment and Finance Company has entered into a share swap agreement with TVS Supply Chain Solutions (TVSSCSL), White Data Systems India (WDSI) and other shareholders of WDSI for the sale of 12,75,917 equity shares constituting 30.87% held by the Company in WDSI to TVSSCSL. As consideration for sale of WDSI shares, the Company will be issued 22,35,265 Compulsory Convertible Preference Shares of TVSSCSL. Consequently, WDSI will cease to be an associate of the Company upon completion of transaction.
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.