Cholamandalam Investment allots Perpetual Debt Instrument on private placement basis

Cholamandalam Investment and Finance Company Ltd has now announced with reference to the approval of the Board of Directors for issuance of 8000 Perpetual Debt Instruments (PDI) in the nature of unsecured non-convertible debentures of Rs. 5 lacs each up to an allotment of Rs. 400 crores on private placement basis in one or more tranches to one or more investors, In this regard, that the Company on October 11, 2010, has allotted 3000 PDIs aggregating to Rs. 150 crores to M/s. Darashaw & Company Pvt. Ltd.

The stock closed the day at Rs.184.80, up by Rs.3.90 or 2.16%. The stock hit an intraday high of Rs.188.50 and low of Rs.182.50.

The total traded quantity was 0.42 lakhs compared to 2 week average of 0.96 lakhs.

Source : Equity Bulls

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