Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 31700 securities pursuant to Non Convertible Securities at its meeting held on May 21, 2026
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Cholamandalam Investment and Finance Company (Chola) has allotted 31,700 Secured Non-Convertible Debentures worth ₹317 crores through a private placement on NSE's Electronic Book Platform. The issue carries an 8.08% coupon rate and 8.35% re-issue yield, with annual coupon payments starting June 5, 2026 and maturity on June 5, 2029. The total approved issue size is ₹1,000 crores including a ₹635 crore green shoe option. The NCDs are secured at 1x coverage and listed in the WDM segment of NSE. No delays in interest or principal payments were reported.
This is a routine NCD issuance by a leading NBFC to raise debt capital at market-determined rates. The secured, fixed-income instrument with no payment defaults is positive from a credit risk perspective. For equity shareholders, this represents normal debt fundraising that will be used for lending operations, which is core NBFC business.