Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 100 securities pursuant to Non Convertible Securities at its meeting held on August 07, 2025
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Cholamandalam Investment and Finance Company has allotted 100 unsecured perpetual non-convertible securities (NCDs) under a private placement on the NSE Electronic Book Platform, raising ₹100 crores. The total issue size is ₹400 crores, including a ₹300 crores greenshoe option. The securities are perpetual in nature with a call option exercisable at the end of 10 years (on 8 August 2035) and carry an annual coupon of 9.25%, paid on 7 August every year. The instruments are unsecured and will be listed on the Wholesale Debt Market (WDM) segment of NSE.
This is a routine debt-raising exercise that strengthens Cholamandalam's long-term capital base at a competitive 9.25% coupon. For shareholders, it is mildly positive as it supports growth funding without immediate equity dilution, though perpetual securities add to the company's overall leverage profile.