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Incorporated in 1978, Cholamandalam Investment and Finance Company Limited (Chola) is a non-banking finance company categorized as NBFC Investment and Credit Company (NBFC-ICC). It is the financial services arm of the Murugappa Group.
Chola started as an equipment financing company and has since expanded to offering 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, and secured business and personal loans as well as to providing investment advisory services, stock broking, and other financial services.
The company has three subsidiaries, namely,
As of September 30, 2023, Chola has over 1,267 branches and 571 resident locations across 29 States and Union Territories in India with 30.94 lakh active customers.
| Issue Open | January 19, 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 500.00 Crores |
| Issue Size (Oversubscription) | Rs 1,163.00 Crores |
| Tranche Issue Size | Rs 1,663.00 Crores |
| Issue Size (Shelf) | Rs 5,000.00 Crores |
| Tranche Number | IV |
| 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 | IND AA+/Stable by India Ratings & Research Private Limited and ICRA AA+ (Stable) by ICRA Limited |
| Tenor | 24, 36 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. |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 30% |
| Non-Institutional | 25% |
| HNI | 25% |
| Retail | 20% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 1,500,000 |
| Non-Institutional | 1,250,000 |
| HNI | 1,250,000 |
| Retail | 1,000,000 |
| Total NCD's | 5,000,000 |
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 |
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.
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, M A Alagappan (holds shares on behalf of Kadamane Estates) are the company's promoters.
Cholamandalam Investment and Finance Company Limited's revenue increased by 28.09% and profit after tax (PAT) rose by 23.98% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
The Cholamandalam Investment NCD Tranche IV Jan. 2024 was subscribed 2.92 times on January 25, 2024 5:00:00 PM. The NCD subscribed 3.90 times in Retail, 2.38 times in HNI, 4.46 times in Non-Institutional, and 1.43 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 3.90x |
| HNI | 2.38x |
| Non-Institutional | 4.46x |
| Institutional | 1.43x |
| Total | 2.92x |
2 3.5 Rating:  Vote Here ... |
Cholamandalam Investment and Finance Company Limited
Chola Crest, C54-55 and Super B-4,
Thiru-Vi-Ka Industrial Estate, Guindy,
Chennai - 600032
Phone: +91 44 4090 7172
Email: investors@chola.murugappa.com
Website: https://www.cholamandalam.com/
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/
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