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Cholamandalam Investment plans to mop up Rs 315 crore: Report

21 Feb 2014 Evaluate

Cholamandalam Investment and Finance Company is reportedly planning to mop up Rs 315 crore (around $50 million) from International Finance Corporation (IFC). This money will be infused in the form of a Tier-II debt investment by subscribing to unsecured non-convertible debentures (NCDs) to be issued by the company.

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.

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