The Exchange has sought clarification from Cholamandalam Investment and Finance Company Limited with respect to recent news item captioned Vellayan Subbiah to exit Cholamandalam Investment Finance as part of Murugappa family settlement.. The response from the Company is attached.
CHOLAFIN · price
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On the reaction day the stock moved 0.7 pts less than Nifty 100 and 0.6 pts less 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.
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NSE sought clarification from Cholamandalam Investment and Finance after Moneycontrol reported that Executive Chairman Vellayan Subbiah would exit the company as part of a Murugappa family settlement. The company submitted a statement from Mr. Subbiah's office calling the news 'factually incorrect and entirely baseless.' He confirmed he continues as Executive Chairman for his approved five-year term running from April 1, 2025 to March 31, 2030. The company also stated there is no change in management control, ownership, or the group structure that oversees Cholamandalam, Tube Investments, and CG Power.
This is a strong denial of a potentially stock-negative rumor. For shareholders, it removes short-term uncertainty around leadership continuity and family settlement issues, though the stock may have already reacted to the initial news before the clarification was issued.