Cholamandalam Investment and Finance Company Limited has informed the Exchange about Conversion
CHOLAFIN · price
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Cholamandalam Investment and Finance Company has allotted 76,31,691 equity shares after six CCD holders opted to convert their 1,06,300 compulsorily convertible debentures into equity during the 1–7 January 2026 window. The conversion price was fixed at Rs. 1,392.88 per share, which represents a 16.50% discount to the 7-day volume weighted average price on NSE preceding 1 January 2026. The original CCDs, carrying a 7.5% coupon and face value of Rs. 1,00,000 each, were issued in October 2023 to qualified institutional buyers. Post-allotment, the company's paid-up share count rises from 84.40 crore to 85.16 crore shares, an increase of roughly 0.9% in equity base.
This is a small, pre-scheduled dilution of about 0.9% in the equity base, with shares allotted at a 16.50% discount to recent market price, which may have a mild near-term impact on the stock. Long-term, the move converts debt into equity but removes a fixed 7.5% interest obligation, marginally improving the capital structure.