Cholamandalam Investment and Finance Company to raise Rs.300 crores

The Board of Directors of Cholamandalam Investment and Finance Company Ltd at its meeting held on December 27, 2012 has approved raising capital up to Rs. 300 crores by an issue of Securities pursuant to the provisions of Section 81(1A) and other applicable provisions, if any, of the Companies Act, 1956 in one or more tranches, through private placement including by a ‘Qualified Institutions Placement’ in terms of SEBI ICDR Regulations and other applicable laws.BR>The approval of the shareholders of the Company for the above issue is proposed to be sought through a postal ballot.

The Cholamandalam Investment and Finance Company Ltd stock closed the day at Rs.270.10, down by Rs.10.50 or 3.74%. The stock hit an intraday high of Rs.283 and low of Rs.265.50.

The total traded quantity was 0.16 lakhs compared to 2 week average of 0.40 lakhs.

Source : Equity Bulls

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