Cholamandalam Finance NCD subscribed 5.17 times on Final Day of bidding

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 5.17 times on the final day of the issue which garnered more than Rs 2500 crore.

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 2.05 times in the Retail Investor Category, 7.10 times in the Institutional Investor Category, 10.49 times in the Non-Institutional Investors Category, and 2.06 times in the HNI Investors Category.

The issue has seen healthy demand in the Non-Institutional Category of investors with a total collection of Rs 1311.27 Crore, while Institutional Category collected Rs 710.31 crore, HNI and Retail Investors category garnered Rs 257.85 crore, Rs 306.97 crore respectively.

Shares of Cholamandalam Investment and Finance Company Limited was last trading in BSE at Rs. 853.70 as compared to the previous close of Rs. 837.95. The total number of shares traded during the day was 19667 in over 923 trades.

The stock hit an intraday high of Rs. 857.00 and intraday low of 831.05. The net turnover during the day was Rs. 16611538.00.

Source : Equity Bulls

Keywords

CholamandalamInvestmentandFinanceCompany INE121A01024 FundRaising NCDs PublicIssue Oversubscription