Cholamandalam Investment & Finance Company Ltd - CHOLAMAN.INV.&FN Share Price

Summary

Cholamandalam Investment and Finance Company (CIFCL) is comprehensive financial services provider offering vehicle finance, home loans, SME loans, consumer & small enterprise loan, loan against property, insurance agency, home equity loans, secured business & personal loan, wealth management, stock broking, mutual fund distribution and a variety of other financial services to customers. The company operates from 1,191 branches across India with Assets Under Management above Rs 1,12,782 Crore. Promoted by M.A. M Arunachalam, M V Murugappa, and M V Subbiah on 17 August 1978 as a public limited company, Cholamandalam Investment and Finance Company (CIFCL), belonging to the Murugappa Group, commenced business on 22 Nov.78. In 1986, Standard Chartered Bank (SCB) took up a 28% stake, which was later increased to 30%. SCB disinvested its holding in 1993 as a part of its strategic review of its business. Other group companies are EID Parry, Amphetronix, Parry Confectionery, Carborundum Universal, Tube Investment of India, etc.In 1991-92, the company ventured into auto-finance for cars and commercial vehicles. In Jan.95, CIFCL came out with a public issue of equity shares at a premium of Rs 90, aggregating Rs 42.5 cr, to part-finance its long-term fund requirements to expand its activities. The company ventured into mutual funds, securities trading and risk management through separate subsidiaries/joint ventures. Cholamandalam Securities is its wholly owned subsidiary. The company... Read More