Cholamandalam Investment and Finance Company to raise Rs.1250 crore through NCD issue

The Board of Directors of Cholamandalam Investment and Finance Company Ltd at its meeting held on January 18, 2013, have approved the issue of 7000 unsecured Redeemable, Non-Convertible Debentures by way of subordinated debt of a face value of Rs. 10 lakhs each at par aggregating to Rs.700 crores in one or more series on private placement basis.

The Board also approved issue of 5500 unsecured Redeemable, Non-Convertible Debentures by way of perpetual debt of a face value of Rs. 10 lacs each at par aggregating to Rs. 550 crores in one or more series on private placement basis.

Shares of Cholamandalam Investment and Finance Company Ltd closed the day in BSE at Rs.282.65, down by Rs.0.25 or 0.09%. The stock hit an intraday high of Rs.289.95 and low of Rs.281.

The total traded quantity was 7204 compared to 2 week average of 13439.

Source : Equity Bulls

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