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NCD Status: Closed [19th Jan 2024 to 25th Jan 2024]
Cholamandalam Investment And Finance Company Limited is issuing secured and redeemable NCDs with a base issue size of Rs 500.00 Cr and shelf issue size of Rs 5000.00 Cr. The subscription period is opening from 19 Jan 2024 to 02 Feb 2024 and the company is issuing Series I to VI at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 lots, so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs is 24, 36, and 60 months with a coupon rate of 8.44% to 8.60% per annum.
Learn more about Cholamandalam Investment And Finance Company Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 19th Jan 2024 |
| NCD Closing Date: | 25th Jan 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹500.00Cr |
| Issue Size (Shelf): | ₹5000.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE, NSE |
| Tenor: | 24, 36 and 60 Months |
| Rating: | IND AA+/Stable by India Ratings & Research Private Limited and ICRA AA+ (Stable) by ICRA Limited |
| Series: | Series I to VI |
| Payment Frequency: | Annually and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 19th Jan 2024 |
| NCD Issue Close | 25th Jan 2024 |
| BSE Code: | 3279 |
| BSE Script Symbol: | CIFCL04 |
| NSE Code: | CIFCL04 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 1500000 | 30% |
| Non-Institutional | 1250000 | 25% |
| HNI | 1250000 | 25% |
| Retail | 1000000 | 20% |
Cholamandalam Investment And Finance Company Limited is a non-banking finance company incorporated in 1978 as the financial services arm of the Murugappa Group and has been in existence for more than 123 years. Its business is categorized as NBFC-ICC. The company started its business with equipment financing and has since expanded its offerings to include vehicle financing, home loans, small and medium enterprise (“SME") loans, consumer and small business loans, and secured business and personal loans. Through its subsidiaries, it also offers its customers stockbroking services and a range of other financial services.
The company is able to leverage its knowledge and experience in the vehicle finance industry, as well as its relationships with OEMs and dealers, to grow its business and expand its business network. By focusing on technology and using data analytics, we have been able to drive the digitization of business operations, increase efficiency, reduce headcount and shorten turnaround times. They believe that their track record in all areas of business, prudent risk management and strong credit ratings are the key factors that have led to their growth over the years. In addition, as part of the Murugappa Group, they have been able to achieve significant synergies by leveraging their brand and existing customer base.
Cholamandalam Investment and Finance Company Limited's revenue increased by 28.09% and profit after tax (PAT) rose by 23.98% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 113,626.90 | 82,478.68 |
| Revenue | 13,105.59 | 10,231.81 |
| Profit After Tax | 2,676.67 | 2,158.89 |
| Amount in ₹ Crore | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Cholamandalam Investment and Finance Company Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.45% | NA | 8.50% | NA | 8.60% | NA |
| Effective Yield (% per Annum) | 8.44% | 8.45% | 8.49% | 8.50% | 8.59% | 8.60% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,175.88 | Rs 1,000.00 | Rs 1,277.58 | Rs 1,000.00 | Rs 1,511.28 |
Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan hold shares on behalf of the firm) Tube Investments of India Limited New Ambadi Estates Private Limited, Coromandel International Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, M A Alagappan (holds shares on behalf of Kadamane Estates) are the company's promoters.
The company has received a rating of ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited for the NCDs proposed to be issued pursuant to this Issue.
Last Updated on 2024-01-28T05:33:06+00:00
