Cholamandalam raises Rs 2,000 crore via 8.97 percent perpetual NCDs

Fund Raising View source PDF Explain this filing

CHOLAFIN · price

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Price reactionminutes from the announcement price · days from the prior close

+0.5%Reaction day

₹1811.90

prior close

₹1796.00

announcement price

After-mkt

timing

Nifty 100market-0.5%+1.0% vs market

Non Banking Financial Company (NBFC) peers, median of 225sector-0.3%+0.8% vs sector

On the reaction day the stock moved 1.0 pts more than Nifty 100 and 0.8 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.6

10m

-0.4

15m

-0.6

30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.5-0.5+1.0-0.3+0.8

Next day

+1.7-0.6+2.3+0.0+1.7

+1.5-0.5+2.0+0.1+1.4

+0.7-1.0+1.7-0.3+1.0

+0.6-1.4+2.0+0.0+0.6

+0.9-2.1+3.1-0.1+1.0

+1.9-2.4+4.3-1.0+2.9

15d

-7.2-3.7-3.4-2.2-5.0

-11.4-6.0-5.4-2.9-8.5

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UpDownMarket · Nifty 100Sector · Non Banking Financial Company (NBFC) peers, median of 225Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The company allotted 2,000 unsecured, listed, rated perpetual non-convertible securities via private placement. The issue was Rs 2,000 crore with no extra allotment option. Coupon is 8.97 percent annually, paid on 1 September and on 2 September 2036 if the company calls the securities. They are listed on the NSE wholesale debt market segment.

Likely market impact

Company gains funding, but the perpetual NCDs create an annual 8.97 percent interest burden and have no fixed maturity.