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Cholamandalam Investment Allots ₹1,000 Crore Secured NCDs at 7.83% Coupon
Cholamandalam Investment and Finance Company (CHOLAFIN) has successfully allotted 100,000 secured non-convertible securities (NCDs) via a private placement on the NSE EBP platform. The company raised ₹1,000 crores as part of a larger ₹2,000 crore issue size which included a green shoe option. These NCDs carry a fixed coupon rate of 7.83% per annum with a tenure of 2 years and 5 months. The capital raised will likely be utilized to support the company's ongoing lending operations and balance sheet growth.
Key Highlights
Allotment of 100,000 secured NCDs raising a total of ₹1,000 crores
Fixed coupon rate of 7.83% with annual interest payments starting June 28, 2026
Instrument tenure is 2 years and 5 months with a maturity date of June 28, 2028
Total issue size of ₹2,000 crores including a ₹1,000 crore green shoe option
Securities are secured at 1x cover and will be listed on the NSE Wholesale Debt Market
💼 Action for Investors
This is a routine fundraise for a large NBFC to maintain liquidity and fuel credit growth; investors should monitor the company's overall cost of borrowing in the current interest rate environment.