Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding allotment of 83100 securities pursuant to Non Convertible Securities at its meeting held on February 27, 2026
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Cholamandalam Investment and Finance Company has allotted 83,100 secured non-convertible securities (NCDs) through a private placement on the NSE Electronic Book Platform. The total amount raised in this tranche is ₹831 crores, as part of a larger issue size of ₹1,500 crores (which includes a ₹1,000 crore green shoe option). The NCDs carry an 8.60% coupon rate with a reissue yield of 7.79%, have a tenure of about 3 years (1,102 days), and are secured at 1x cover. Interest will be paid annually with the first payment due on March 5, 2027, and maturity set for March 5, 2029. The securities will be listed on the Wholesale Debt Market (WDM) segment of NSE.
This is a routine debt-raising move by the company to strengthen its funding base at a competitive market yield of 7.79%. For shareholders, the dilution impact is minimal since these are debt instruments and not equity, though higher borrowings will increase interest obligations over the coming years.