Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 100000 securities pursuant to Non Convertible Securities at its meeting held on February 23, 2026
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Cholamandalam Investment and Finance has allotted 1 lakh unsecured subordinated non-convertible debentures (NCDs) raising ₹1,000 crores through a private placement on the NSE Electronic Book Platform. The issue size includes a green shoe option of ₹500 crores, potentially taking total issuance to ₹1,500 crores. The NCDs carry a coupon rate of 8.66% per annum with annual interest payments, have a 7-year tenure, and will mature on February 23, 2033. The securities are unsecured and subordinated in nature, and will be listed on the Wholesale Debt Market (WDM) segment of NSE.
This ₹1,000 crore debt raise strengthens Chola's capital base, likely to support lending growth and balance sheet expansion, though it adds to long-term borrowing obligations. For shareholders, the cost of funds at 8.66% reflects current market rates and is dilutive to equity but not immediately material to stock price.