Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 50000 securities pursuant to Non Convertible Securities at its meeting held on May 05, 2026
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Cholamandalam Investment and Finance Company (Chola), a leading NBFC, has allotted 50,000 secured non-convertible securities worth ₹500 crores under a private placement on NSE's Electronic Book Building platform. The total issue size is up to ₹1,500 crores including a ₹1,000 crore green shoe option. The NCDs carry a coupon rate of 8.08% per annum with annual payments starting June 5, 2026, and mature on June 5, 2029 (tenure of 3 years 1 month). The securities are secured at 1x coverage and listed on NSE's Wholesale Debt Market segment. No payment delays or defaults were reported.
This is a routine debt raising exercise by Chola to fund its lending operations. The 8.08% coupon is in line with market rates for a quality NBFC and indicates healthy investor demand. The successful listing in the WDM segment is positive for the company's funding profile.