Cholamandalam Investment and Finance Company Ltd approves issue of NCDs

The Board of Directors of Cholamandalam Investment and Finance Company Ltd at its meeting held on January 27, 2015, have approved the issue of 75,000 secured Redeemable, Non-Convertible Debentures of a face value of Rs. 10 lakhs each at par aggregating to Rs. 7,500 crores in one or more tranches on private placement basis.

The Board approved the issue of 6,000 unsecured Redeemable, Non-Convertible Debentures in the nature of subordinated debt of a face value of Rs. 10 lakhs each at par aggregating to Rs. 600 crores in one or more series on private placement basis and issue of 1,000 unsecured Redeemable, Non-Convertible Debentures in the nature of perpetual debt of a face value of Rs. 10 lacs each at par aggregating to Rs. 100 crores in one or more series on private placement basis.

Shares of Cholamandalam Investment and Finance Company Ltd was last trading in BSE at Rs.520.75 as compared to the previous close of Rs. 515.05. The total number of shares traded during the day was 34168 in over 3266 trades.

The stock hit an intraday high of Rs. 528.15 and intraday low of 505. The net turnover during the day was Rs. 17763655.

Source : Equity Bulls

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