The Non-Convertible Debentures issued by Cholamandalam Investment and Finance Company Limited starts from July 28th, 2023 to August 10th, 2023. This NCD has been rated ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited.
Six separate series of NCDs are being issued, with terms varying 22, 37 and 60 months and coupons ranging from 8.25 % p.a. to 8.40 % p.a. The maximum amount the company hopes to raise is Rs 10,000 crore with a Face value of Rs. 1000 each NCD and a minimum lot size of 10 NCD. The NCDs have a redeemable and secure nature. Let’s investigate more details and get into greater detail about this NCD issue.
About Cholamandalam Investment and Finance Company Limited
Cholamandalam Investment and Finance Co Ltd, founded in 1978, serves as the financial services arm of the Murugappa Group. It operates in India and has subsidiaries, including Cholamandalam Securities Limited (CSEC) and Cholamandalam Home Finance Limited (CHFL). Chola operates an extensive network of more than 1,166 branches throughout India, managing assets totaling over INR 1,03,789 Crores. With a vast customer base, the company serves over 21 lakh customers across the country.
The company’s main segments consist of vehicle finance loans (for vehicles, tractors, and construction equipment), home loans (for residential property acquisition), loan against property (using immovable property as collateral), and other loans (including loans against shares and SME loans). Additionally, it provides investment advisory and stockbroking services. Its operations are exclusively based in India.
Cholamandalam NCD 2023 – Issue Details
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Company | Cholamandalam Investment and Finance Company Limited |
| Issue Open | July 28th, 2023 |
| Issue Close | August 10th, 2023 |
| Coupon Rate (ROI) | 8.25 % p.a. to 8.40 % p.a. |
| Face Value | Rs. 1000 |
| Issue Price | Rs. 1000 |
| Issue Size | Shelf – Rs. 5000 Cr Base – Rs. 500 Cr. |
| Minimum Order Quantity | 10 NCDs (Rs. 10,000) |
| Listing | BSE and NSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Cholamandalam NCD 2023 – Objects of the Issue
The proceeds from the Issue will be used as follows, as stated by the company:
- Onward lending, financing, and repayment of interest and principal of existing borrowings of the company.
- General Corporate Purposes.
Cholamandalam Investment and Finance Company Limited NCD Issue Ratings
This NCD issue has been rated ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited.
Cholamandalam Investment and Finance Company Limited – Company Contact Details
- Address: Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai 600 001, Tamil Nadu
- Telephone: +91 44 4090 7172
- Website: http://www.cholamandalam.com
Cholamandalam NCD 2023 – Lead Manager of the Issue
The lead manager for this NCD issue is A.K. Capital Services Limited.
Cholamandalam NCD 2023 – Registrar of the Issue
The registrar of this NCD issue is Kfin Technologies Limited.
Cholamandalam Investment and Finance Company Limited NCD 2023 – Debenture Trustee
The trustee of this debenture issued by Cholamandalam Investment and Finance Company Limited is Idbi Trusteeship Services Ltd.
Issue Documents
Please click here to read the final issue prospectus for detailed information on Cholamandalam Investment and Finance Company Limited NCD issue 2023.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
