Cholamandalam Investment and Finance Company Limited (Chola) is the financial services arm of the Murugappa Group. The company offers vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking, and other financial services. It is coming up with a debt offer which is starting for subscription from July 28 to August 10, 2023. Click here to apply in the Cholamandalam Investment and Finance Company Limited NCD.
The company is raising Rs 500 crore from the issue at a price of Rs 1000 each. Investors need to apply for a minimum of 10 NCDs in a lot. The company has received rating of ICRA AA+ (Stable) by ICRA Limited and IND AA+ (Stable) by India Ratings & Research Private Limited.
Cholamandalam Investment and Finance Company Limited has reserved 30% quota for institutional investors, 25% for non-institutional investors and high net-worth each and 20% for retail investors.
The company will use the net proceeds from the issue towards onward lending, financing, and repayment of interest and principal of existing borrowings and other general corporate purposes.
These NCDs have tenures of 22 months, 37 months, and 60 months. It offers coupon rates from 8.25% to 8.40% based on the selection of investors. The frequency of interest payments will be Annual or Cumulative as per the choice of investors. Allotment of these NCDs will be in dematerialized mode only. Application is to be made through ASBA mode only.
Check the coupon rates of NCDs of Cholamandalam Investment and Finance Company Limited
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 |
RHP:
Tax implications:
Cholamandalam Investment NCD Tranche II is managed by AK Capital Services Limited. Kfin Technologies Limited is the registrar of NCD and Idbi Trusteeship Services Ltd is debenture trustee to the same.
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