Cholamandalam DBS Finance to raise Rs 400 crores

Cholamandalam DBS Finance Ltd has announced that the Board of Directors of the Company at its meeting held on January 27, 2010, inter alia, has approved raising of Perpetual Debt by issue of 8000 unsecured non-convertible debentures of Rs 5 lacs each up to an amount of Rs 400 crs. on a private placement basis in one or more tranches on private placement basis to one or more investors.

The stock was trading at Rs.63, up by Rs.1.05 or 1.69%. The stock hit an intraday high of Rs.66.45 and low of Rs.63.

The total traded quantity was 12335 compared to 2 week average of 27544.

Source : Equity Bulls

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