Founded in 1978, Cholamandalam Investment and Finance Company Limited (Chola) operates as the financial services division of the Murugappa Group.
Chola offers an array of financial solutions, including vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking, and a variety of other financial offerings.
With a widespread presence, Chola boasts a network of more than 1166 branches spanning the entirety of India. Impressively, the company’s assets under management have exceeded INR 1,03,789 Crores. This extensive reach and proficient management have garnered Chola a substantial customer base of over 21 lakh individuals spread across the nation.
Cholamandalam Investment NCD Tranche II July 2023 Detail #
| Issue Open | Jul 28, 2023 – Aug 3, 2023 |
| Security Name | Cholamandalam Investment and Finance Company Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 500.00 Crores |
| Issue Size (Shelf) | Rs 5,000.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited |
| Tenor | 22, 37 and 60 months |
| Series | Series I to VI |
| Payment Frequency | Annually and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
Cholamandalam Investment and Finance Company Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | Cumulative | Annual | Cumulative | Annual | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 22 Months | 22 Months | 37 Months | 37 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.25% | NA | 8.30% | NA | 8.40% | NA |
| Effective Yield (% per Annum) | 8.26% | 8.25% | 8.30% | 8.30% | 8.39% | 8.40% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,156.64 | Rs 1,000.00 | Rs 1,279.15 | Rs 1,000.00 | Rs 1,497.41 |
NCD Rating #
The company has received a rating of ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Promoters #
Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan hold shares on behalf of the firm) Tube Investments of India Limited New Ambadi Estates Private Limited, Coromandel International Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, and M A Alagappan (holds shares on behalf of Kadamane Estates) are the company promoters.
Company Financials #
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 |
| Assets | 64,058.38 | 74,644.16 | 82,478.68 |
| Revenue | 8,712.63 | 9,639.72 | 10,231.81 |
| Profit After Tax | 1,053.72 | 1,521.39 | 2,158.89 |
| Net Worth | |||
| Reserves and Surplus | |||
| Total Borrowing |
Objects of the Issue #
- Onward lending, financing, and repayment of interest and principal of existing borrowings of the company.
- General corporate purposes.
Cholamandalam Investment NCD Tranche II July 2023 Prospectus #
Cholamandalam Investment NCD Tranche II July 2023 Subscription Status #
The Cholamandalam Investment NCD Tranche II July 2023 was subscribed 3.04 times on Aug 3, 2023 5:00:00 PM. The NCD subscribed 2.72 times in Retail, 3.46 times in HNI, 3.32 times in Non-Institutional, and 2.67 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.72x |
| HNI | 3.46x |
| Non-Institutional | 3.32x |
| Institutional | 2.67x |
| Total | 3.04x |
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Company Contact Information #
Dare House, No. 2,
N.S.C. Bose Road, Parrys,
Chennai 600 001, Tamil NaduPhone: +91 44 4090 7172
Email: investors@chola.murugappa.com
Website: http://www.cholamandalam.com
Cholamandalam Investment NCD Tranche II July 2023 Registrar #
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: chola.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
