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Cholamandalam Investment Allots ₹831 Crore Secured NCDs via Private Placement
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has successfully allotted 83,100 secured non-convertible securities, raising ₹831 crores. This allotment is part of a larger ₹1,500 crore issue which includes a ₹1,000 crore green shoe option. The NCDs carry an 8.60% coupon rate with a yield of 7.79% and have a tenure of approximately 3 years. The funds raised through this private placement on the NSE EBP platform will support the company's ongoing business operations and capital requirements.
Key Highlights
Allotted 83,100 secured NCDs raising a total of ₹831 crores via private placement.
Total issue size of ₹1,500 crores including a ₹1,000 crore green shoe option.
Fixed coupon rate of 8.60% with a reissue yield of 7.79%.
Tenure of 3 years and 6 days with maturity scheduled for March 5, 2029.
Securities are listed on the Wholesale Debt Market (WDM) segment of the NSE.
💼 Action for Investors
This is a routine capital-raising activity for an NBFC to fuel its lending book; no immediate action is required. Investors should continue to monitor the company's cost of borrowing and net interest margins.
Cholamandalam Denies Rumours of Executive Chairman Vellayan Subbiah's Exit
Cholamandalam Investment and Finance Company has officially refuted media reports suggesting the exit of Executive Chairman Vellayan Subbiah. The company clarified that Mr. Subbiah remains in his position as per his five-year appointment term running from April 1, 2025, to March 31, 2030. Additionally, the management confirmed that there are no changes to the ownership or control structure of the Murugappa Group businesses. This clarification aims to maintain market stability and dispel speculation regarding a family settlement affecting leadership.
Key Highlights
Company labels reports of Vellayan Subbiah's exit as factually incorrect and entirely baseless
Vellayan Subbiah's 5-year term as Executive Chairman is confirmed until March 31, 2030
No changes reported in the management control structure or ownership of the Group's businesses
Current leadership oversight for Tube Investments, Cholamandalam, and CG Power remains unchanged
💼 Action for Investors
Investors should take comfort in the management's swift clarification and the confirmed continuity of leadership. The stability at the top level is a positive sign for the company's strategic execution.
CHOLAFIN Denies Reports of Executive Chairman Vellayan Subbiah's Exit
Cholamandalam Investment and Finance Company (CHOLAFIN) has officially refuted media reports regarding the exit of its Executive Chairman, Vellayan Subbiah. The company clarified that the speculation about his departure as part of a Murugappa family settlement is factually incorrect and baseless. Mr. Subbiah is confirmed to continue his five-year term as Executive Chairman, which runs from April 1, 2025, to March 31, 2030. Furthermore, the company stated there is no change in the management control structure or ownership of the group's businesses.
Key Highlights
Company denies news reports of Vellayan Subbiah's exit as 'factually incorrect and entirely baseless'
Vellayan Subbiah to continue his 5-year term as Executive Chairman from April 1, 2025, to March 31, 2030
Management confirms no change in ownership or management control structure of the Group's businesses
Vellayan Subbiah and M A M Arunachalam continue to oversee Tube Investments, CHOLAFIN, and CG Power
💼 Action for Investors
Investors should take comfort in the management's clarification regarding leadership stability. No immediate action is required as the current governance and management structure remains unchanged.
Cholamandalam Investment Allots ₹1,000 Crore Unsecured NCDs at 8.66% Coupon
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has successfully allotted unsecured subordinated non-convertible securities worth ₹1,000 crores. The fundraise was conducted via private placement and includes a green shoe option of ₹500 crores, reflecting strong institutional interest. These securities carry a fixed coupon rate of 8.66% per annum with a long-term tenure of 7 years. This capital infusion is expected to strengthen the company's Tier-II capital adequacy and support its ongoing lending expansion.
Key Highlights
Total allotment of ₹1,000 crores through 100,000 unsecured subordinated NCDs
Issue includes a ₹500 crore base size and a ₹500 crore green shoe option
Fixed coupon rate set at 8.66% per annum with annual interest payments
Long-term maturity period of 7 years with the final redemption date on February 23, 2033
Securities to be listed on the Wholesale Debt Market (WDM) segment of the NSE
💼 Action for Investors
Investors should view this as a positive step for capital adequacy and growth funding. Monitor the company's ability to maintain net interest margins (NIMs) against this 8.66% cost of subordinated debt.
Cholamandalam Investment Allots ₹1,040 Crore via Secured Non-Convertible Securities
Cholamandalam Investment and Finance Company Limited has successfully allotted 104,000 secured non-convertible securities through a private placement on the NSE EBP platform. The company raised ₹1,040 crores out of a total issue size of ₹1,500 crores, which included a green shoe option of ₹500 crores. These securities carry a coupon rate of 8.40% and a reissue yield of 7.77%, with a tenure of approximately 585 days. The funds raised will likely support the company's lending operations and liquidity management.
Key Highlights
Allotment of 104,000 secured NCDs raising a total of ₹1,040 crores
Coupon rate fixed at 8.40% with a reissue yield of 7.77%
Tenure of the securities is set at 1 year 7 months 8 days, maturing on September 18, 2027
The issue was part of a larger ₹1,500 crore issue size including a ₹500 crore green shoe option
Securities are secured at 1x and will be listed on the WDM segment of NSE
💼 Action for Investors
This is a routine capital-raising activity for an NBFC to fund growth and manage its liability profile. Investors should monitor the company's cost of funds and net interest margins in upcoming quarterly results.
Cholamandalam Q3 FY26: AUM Grows 20% to ₹2.28 Lakh Cr; ROA Strong at 3.2%
Cholamandalam Investment and Finance reported a robust 20% YoY growth in AUM, reaching INR 2,27,770 crores, driven by steady momentum across vehicle and mortgage segments. Disbursements grew 16% YoY to INR 29,962 crores, with significant contributions from LAP and SBPL verticals which grew 26% and 30% respectively. Profitability remained healthy with an ROA of 3.2% and ROE of 19.11%, supported by a 33 bps improvement in NIMs following RBI rate cuts. The company also declared an interim dividend of INR 1.30 per share while maintaining a comfortable capital adequacy ratio of 19.16%.
Key Highlights
Aggregate disbursements rose 16% YoY to INR 29,962 crores, led by a 17% rise in Vehicle Finance.
Net Interest Margin (NIM) improved by 33 bps YoY, benefiting from a favorable impact on cost of funds.
Asset quality in Vehicle Finance showed stability with Stage 3 at 4.17% and Stage 2 improving to 3.6%.
Home Loan segment ROA remained strong at 4.2% despite a one-off INR 65 crore asset sale to an ARC.
Capital position remains robust with Tier 1 capital at 14.12% and further improvement expected from CCD conversions.
💼 Action for Investors
Investors should take confidence in the steady AUM growth and NIM expansion which indicate strong operational efficiency. The successful transition away from fintech-based lending and focus on secured assets like Gold Loans provide a stable long-term outlook.
Chola Finance Q3 FY26: AUM Crosses ₹2.1 Lakh Cr, PAT Grows 18% YoY to ₹1,288 Cr
Cholamandalam Investment and Finance (Chola) reported a robust 21% YoY growth in AUM, reaching ₹2,10,722 Cr for Q3 FY26. Quarterly disbursements rose 16% to ₹29,962 Cr, supported by a diversified portfolio where Vehicle Finance and LAP remain the primary drivers. While Net Interest Margin (NIM) improved to 8.0% from 7.7% YoY, asset quality saw slight pressure with GNPA rising to 4.63% compared to 4.00% in the previous year. Profit After Tax (PAT) for the quarter stood at ₹1,288 Cr, maintaining a healthy Return on Equity (ROE) of 19.1%.
Key Highlights
Total Assets Under Management (AUM) grew 21% YoY to reach ₹2,10,722 Cr as of December 2025.
Quarterly disbursements increased by 16% YoY to ₹29,962 Cr, while YTD disbursements grew 6% to ₹78,729 Cr.
Net Interest Margin (NIM) improved to 8.0% in Q3 FY26, up from 7.7% in the same quarter last year.
Asset quality showed some stress with Stage 3 assets at 3.36% and GNPA at 4.63% versus 4.00% YoY.
Branch network expanded to 1,757 locations, with 92% of branches situated in Tier-III to Tier-VI towns.
💼 Action for Investors
Investors should remain positive on the company's strong AUM growth and improving NIMs, which indicate efficient capital management. However, the slight uptick in NPAs requires monitoring to ensure credit costs do not erode the healthy 19%+ ROE profile.
Cholamandalam Investment Declares Rs 1.30 Interim Dividend; Sets Feb 5 as Record Date
Cholamandalam Investment and Finance (CHOLAFIN) has declared an interim dividend of Rs 1.30 per equity share (65% of face value) for the financial year ending March 31, 2026. The company has fixed February 5, 2026, as the record date to determine shareholder eligibility for this payout. Alongside the dividend, the board approved the unaudited financial results for the quarter and nine months ended December 31, 2025. Additionally, the board recommended the re-appointment of Mr. Anand Kumar as an Independent Director for a second five-year term.
Key Highlights
Interim dividend of Rs 1.30 per equity share of face value Rs 2 each declared.
Record date for dividend eligibility is fixed as February 5, 2026.
Dividend payment to be completed on or before February 28, 2026.
Approval of standalone and consolidated financial results for Q3 and 9M FY26.
Recommendation for re-appointment of Mr. Anand Kumar as Independent Director for 5 years.
💼 Action for Investors
Investors should ensure they hold shares by the record date of February 5 to be eligible for the dividend. It is also advised to review the detailed Q3 financial results to assess the company's growth trajectory and asset quality.
Chola Investment Declares Rs 1.30 Interim Dividend and Re-appoints Independent Director
Cholamandalam Investment and Finance Company (Chola) has declared an interim dividend of Rs 1.30 per equity share (65% of face value) for the financial year ending March 31, 2026. The company has fixed February 5, 2026, as the record date for determining shareholder eligibility for this payout. Additionally, the board has recommended the re-appointment of Mr. Anand Kumar as an Independent Director for a second five-year term starting March 16, 2026. The board also approved the unaudited financial results for the quarter and nine months ended December 31, 2025.
Key Highlights
Interim dividend of Rs 1.30 per equity share (65% on face value of Rs 2) declared for FY26.
Record date for dividend payment is set for February 5, 2026, with payment to be completed by February 28, 2026.
Mr. Anand Kumar re-appointed as Independent Director for a second term of 5 years (2026-2031).
Board approved standalone and consolidated unaudited financial results for Q3 FY26.
Mr. Anand Kumar brings over three decades of experience in BFSI and M&A from firms like Morgan Stanley and Standard Chartered.
💼 Action for Investors
Investors interested in the dividend should ensure they hold shares before the record date of February 5, 2026. The re-appointment of an experienced director signals stability in corporate governance.
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.
Cholamandalam Investment Allots ₹400 Crore Secured NCDs at 7.73% Coupon
Cholamandalam Investment and Finance Company Limited (CHOLAFIN) has successfully allotted secured Non-Convertible Securities (NCDs) worth ₹400 crores via private placement. The allotment is part of a larger ₹1,000 crore issue which includes a ₹600 crore green shoe option. These securities carry a fixed coupon rate of 7.73% per annum with a 5-year tenure maturing in January 2031. The funds raised will likely be utilized to support the company's ongoing lending operations and strengthen its capital base.
Key Highlights
Allotment of 40,000 secured Non-Convertible Securities amounting to ₹400 crores
Fixed annual coupon rate of 7.73% with a 5-year tenure maturing on January 20, 2031
Total issue size of ₹1,000 crores including a green shoe option of ₹600 crores
Securities are secured at 1x and listed on the Wholesale Debt Market segment of the NSE
Issuance conducted through the NSE Electronic Bidding Platform (EBP) via private placement
💼 Action for Investors
This is a routine debt-raising activity for an NBFC to fuel its credit growth. Investors should monitor the company's cost of funds and credit ratings to ensure healthy margins and asset quality.
Cholamandalam Finance Allots 76.31 Lakh Equity Shares on CCD Conversion
Cholamandalam Investment and Finance Company (CHOLAFIN) has approved the conversion of 1,06,300 Compulsorily Convertible Debentures (CCDs) into 76,31,691 equity shares. These CCDs were part of a QIP issue from October 2023 and were converted at a price of Rs. 1,392.88 per share. The conversion price reflects a 16.50% discount to the 7-day volume-weighted average price as per the issue terms. This move increases the company's total paid-up equity capital from 84.40 crore shares to 85.16 crore shares.
Key Highlights
Allotment of 76,31,691 equity shares of face value Rs. 2 each following CCD conversion.
Conversion of 1,06,300 CCDs with a face value of Rs. 1,00,000 each, totaling Rs. 1,063 crore in value.
Conversion price set at Rs. 1,392.88 per share, a 16.50% discount to the 7-day VWAP preceding Jan 1, 2026.
Paid-up capital increased from Rs. 168.80 crore to Rs. 170.33 crore.
The conversion was requested by six CCD holders during the early conversion window.
💼 Action for Investors
Investors should account for a marginal equity dilution of approximately 0.9% following this allotment. While dilution occurs, the conversion of CCDs into equity strengthens the company's Tier-1 capital base, which is positive for an NBFC's long-term lending capacity.
Cholamandalam Rebuts Allegations; Reports Strong ₹14,900 Cr Liquidity and 19.79% CAR
Cholamandalam Investment and Finance (Chola) held an emergency investor call to dismiss malicious allegations regarding its financial practices and related party transactions. Management reaffirmed robust financial health with a liquidity position of ₹14,900 crores and a Capital Adequacy Ratio of 19.79% as of November 30, 2025. The company clarified that cash collections are under 20% of total volumes and all related party transactions with Murugappa Group entities are fully disclosed and compliant. Net worth has increased by over ₹3,000 crores since FY25 closing, reaching ₹26,783 crores.
Key Highlights
Liquidity remains strong at ₹14,900 crores with a CAR of 19.79% and Tier 1 capital at 14.53% as of Nov 2025.
Net worth increased to ₹26,783 crores, including the conversion of ₹300 crores of CCDs with ₹1,700 crores more pending.
Management clarified that cash collections are less than 20% of overall collections and are fully audited.
Related party transactions with Chola MS and Murugappa Management Services were defended as standard industry practice.
The company is evaluating legal action for libel against the agency that published the allegations.
💼 Action for Investors
Investors should take comfort in the strong capital adequacy and liquidity metrics provided by the management to debunk market rumors. The proactive clarification and stable guidance suggest that the core business fundamentals remain intact despite the external allegations.
Cholamandalam Investment Allots NCDs Worth ₹1,001 Crore via Private Placement
Cholamandalam Investment and Finance Company Limited has successfully allotted 100,100 secured non-convertible securities, raising a total of ₹1,001 crore. The issuance was conducted through a private placement on the NSE EBP platform with a total issue size of ₹1,500 crore, including a green shoe option. These securities carry an annual coupon rate of 8.20% and have a tenure of approximately 2.15 years. This capital raise is a routine activity for the NBFC to support its ongoing lending operations and business growth.
Key Highlights
Allotted 100,100 secured non-convertible securities raising ₹1,001 crore.
Total issue size was ₹1,500 crore, which included a ₹500 crore green shoe option.
The NCDs carry an 8.20% annual coupon rate and a 7.54% reissue yield.
Tenure of the securities is 785 days (2.15 years) with maturity scheduled for February 17, 2028.
The securities are secured at 1x and will be listed on the WDM segment of the NSE.
💼 Action for Investors
This is a routine fundraise for an NBFC to manage its liquidity and loan book growth. Investors should continue to monitor the company's cost of funds and net interest margins in the upcoming quarters.
Cholamandalam Denies Malicious Allegations; Reports Strong Liquidity of ₹14,900 Cr
Cholamandalam Investment (CIFCL) has officially refuted malicious allegations regarding its financial health and practices, terming them baseless and motivated. The company reported a strong liquidity position of ₹14,900 crores and a Capital Adequacy Ratio (CAR) of 19.79% as of November 30, 2025. It clarified that large cash deposits are standard EMI collections from its 50 lakh+ rural customer base and all related party transactions are fully disclosed. Net worth has increased by over ₹3,000 crores since FY25, reaching ₹26,783 crores.
Key Highlights
Liquidity remains robust with cash and bank balances of ₹14,900 crores as of Nov 30, 2025
Capital Adequacy Ratio (CAR) stands at 19.79% with Tier I capital at 14.53%, well above statutory norms
Net worth increased to ₹26,783 crores, including ₹300 crores from CCD conversion; ₹1,700 crores more expected
Company maintains AA+ ratings from ICRA, India Ratings, and CARE despite the allegations
Clarified that cash deposits are legitimate EMI collections from 50 lakh+ underserved borrowers
💼 Action for Investors
Investors should monitor the stock for volatility caused by these rumors but can find comfort in the strong balance sheet and regulatory compliance data provided. The conversion of remaining CCDs will further strengthen the capital base.
Cholamandalam Finance Rebuts Allegations; Reports ₹14,900 Cr Liquidity and 19.79% CAR
Cholamandalam Investment and Finance Company (CIFCL) has issued a formal clarification under Regulation 30(11) to dismiss malicious allegations regarding its financial health and related party transactions. The company reported a robust liquidity position with ₹14,900 crores in cash and bank balances as of November 30, 2025. It maintained a strong Capital Adequacy Ratio (CAR) of 19.79%, significantly above the statutory requirement of 15%. CIFCL reaffirmed its growth guidance and confirmed that its net worth has grown to ₹26,783 crores, supported by recent CCD conversions.
Key Highlights
Liquidity remains strong with cash and bank balances of ₹14,900 crores as of November 30, 2025.
Capital Adequacy Ratio (CAR) stands at 19.79% with Tier I capital at 14.53% against a 10% requirement.
Net worth increased to ₹26,783 crores, up by over ₹3,000 crores compared to FY25 closing levels.
Company maintains AA+ credit ratings from ICRA, India Ratings, and CARE.
Clarified that cash deposits are standard practice for its 50 lakh+ rural and semi-urban borrower base.
💼 Action for Investors
Investors should take note of the company's strong balance sheet metrics which counter the rumors, but remain alert for any further regulatory inquiries or detailed reports from the accusing agency. The stock may experience short-term volatility until the market fully absorbs the clarification.