Cholamandalam Finance NCD oversubscribed 5.11 times on Day 2, garners over Rs 2500 cr

Cholamandalam Investment and Finance Company Limited (CIFCL), a leading financial services provider in India, its maiden public issue of secured, rated, listed redeemable non-convertible debentures (NCDs) has been oversubscribed 5.11 times on the second day of the issue which garnered Rs 2556.36 crore.

The Issue opened on Tuesday, April 25, 2023 and closes Thursday, April 27, it was to close on Tuesday, May 9, 2023 with an option of early closure.

The issue has a face value of Rs. 1,000 each. The base issue size is Rs. 500 crore with an option to retain oversubscription up to Rs. 500 crore, aggregating up to Rs. 1000 crore, within the Shelf limit of Rs. 5000 crore ("Tranche I Issue").

A.K.Capital Services Limited is the sole lead manager to the issue.

According to the base issue size, the NCDs was subscribed 1.93 times in the Retail Investor Category, 7.10 times in the Institutional Investor Category, 10.45 times in the Non-Institutional Investors Category, and 2.01 times in the HNI Investors Category. The Issue opened on Tuesday, April 25, 2023 and closes Thursday, April 27, it was to close on Tuesday, May 9, 2023 with an option of early closure.

The issue has seen healthy demand in the Non-Institutional Category of investors with a total collection of Rs 1306 Crore, while Institutional Category collected Rs 710 crore, HNI and Retail Investors category garnered Rs 251 crore, Rs 289 crore respectively.

Shares of Cholamandalam Investment and Finance Company Limited was last trading in BSE at Rs. 837.95 as compared to the previous close of Rs. 838.70. The total number of shares traded during the day was 18611 in over 1240 trades.

The stock hit an intraday high of Rs. 844.90 and intraday low of 835.05. The net turnover during the day was Rs. 15614889.00.

Source : Equity Bulls

Keywords

CholamandalamInvestmentandFinanceCompany INE121A01024 FundRaising NCDs Oversubscribed