The Cholamandalam Investment and Finance Company Issue Open has been confirmed from January 19, 2024 – February 2, 2024.
Cholamandalam Investment and Finance Company Developers IPO is a fixed issue size of Rs 5,000.00 Crores. Chola began as an equipment financing company and has since expanded to provide vehicle finance, loans against property, home loans, supply chain financing, term loans, equipment financing, loans against securities, and invoice discounting to small and medium-sized enterprises (SMEs), consumer and small enterprise loans, secured business and personal loans, investment advisory services, stock broking, and other financial services.
Start your investing journey today. How do you open your own demat account for free?
Bidding Dates
Jan 19-Feb 2
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
Cholamandalam Investment and Finance Company NCD
The Cholamandalam Investment and Finance Company NCD Face Value is Rs 1000 each NCD.
IPO Overview
Cholamandalam Investment and Finance Company Limited (Chola), founded in 1978, is a non-banking finance company classified as NBFC Investment and Credit Company (NBFC-ICC). It is Murugappa Group’s financial services arm. Chola began as an equipment financing company and has since expanded to provide vehicle financing, loans against property, home loans, supply chain financing, term loans, equipment financing, loans against securities, and invoice discounting to small and medium-sized enterprises (SMEs), consumer and small enterprise loans, secured business and personal loans, investment advisory services, stock broking, and other financial services.
Aside from the gold loan, it provides fee-based auxiliary services such as microfinance, money transfers, power generation, foreign currency exchange, agricultural, and airline booking. As of September 30, 2023, the corporation operated 994 branches in eight states and one union territory.
Cholamandalam Investment and Finance Company NCD Detail
| Issue Open | January 12, 2024 – January 25, 2024 |
| Security Name | Cholamandalam Investment and Finance Company Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 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 |
| Credit Rating | CRISIL AA- /Stable by CRISIL Ratings Limited |
| Tenor | 24, 36, 60 and 96 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Cholamandalam Investment and Finance Company Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 113,626.90 | 82,478.68 |
| Revenue | 13,105.59 | 10,231.81 |
| Profit After Tax | 2,676.67 | 2,158.89 |
| Amount in ₹ Crore | ||
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 | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 8.45% | NA | 8.50% | NA | 8.60% | NA |
| Effective Yield (% per Annum) | 8.44% | 8.45% | 8.49% | 8.50% | 8.59% | 8.60% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,175.88 | Rs 1,000.00 | Rs 1,277.58 | Rs 1,000.00 | Rs 1,511.28 |
Cholamandalam Investment and Finance Company Limited NCD Allocation Ratio
Company Profile
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of onward lending, financing, and for repayment of interest and principal of existing debt of the Company.
- General corporate purposes.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | chola.ncdipo@kfintech.com |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Cholamandalam Investment and Finance Company Limited |
| Phone number | +91 44 4090 7172 |
| Email ID | investors@chola.murugappa.com |
| Website | cholamandalam.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
