Cholamandalam NCD July 2023 Description – Incorporated in 1978, Cholamandalam Investment and Finance Company (CIFCL) is the financial services arm of Chennai-based Murugappa group. The company operates primarily in the commercial vehicle financing and loan against property segments. In FY15, CIFCL ventured into the small and medium enterprise loan and housing finance business.
The company offers loans for commercial vehicles, passenger vehicles, 2-wheelers, tractors, construction equipment, homes, SMEs, and others.
CIFCL has an established position in the vehicle finance market backed by its strong franchisee base and fairly diverse product portfolio. As of December 2022, it had 1,166 branches in India. About 80% of CIFCL’s branches are in rural areas. The company has a diversified network with no single region (North/South/East/West) accounting for more than 30% of the total branches as of December 2022.
The AUM grew by 31% YoY in 9M FY2023 compared to 10% YoY in FY2022 and the compound annual growth rate (CAGR) was 20% between March 2017 and March 2021. The AUM stood at INR 95,468 crores in December 2022 with vehicle finance, home equity, home finance, and new businesses accounting for 64%, 21%, 8%, and 7%, respectively.
Promoters of Cholamandalam Investment – Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan Hold Shares on Behalf of the Firm) Tube Investments of India Limited, New Ambadi Estates Private Limited, Coromandel International Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, M A Alagappan (Holds Shares on Behalf of Kadamane Estates).
Cholamandalam NCD July 2023 Details
| Subscription Dates | 28 July – 3 August 2023 |
| Security Type | Secured, Redeemable, Non-Convertible Debentures |
| Face Value | INR 1,000 per NCD |
| Issue Price | INR 1,000 per NCD |
| Issue Size (Base) | INR 500 crores |
| Overall Issue Size (including oversubscription) | INR 1,500 crores |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 22 Months 37 Months 60 Months |
| Credit Rating | ICRA AA+/Stable IND AA+/Stable |
| Category Reservation | Category 1 (QIB): 30% Category 2 (NII): 25% Category 3 (HNI): 25% Category 4 (Retail): 20% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE, NSE |
Cholamandalam NCD July 2023 – Objects of the Issue
- Onward lending, financing, and repayment of interest and principal of existing borrowings of the company
- General corporate purposes
Cholamandalam NCD July 2023 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 22 Months | Annual | 8.25% | 8.26% | INR 1,000 |
| Series 2 | 22 Months | Cumulative | NA | 8.25% | INR 1,156.64 |
| Series 3 | 37 Months | Annual | 8.3% | 8.30% | INR 1,000 |
| Series 4 | 37 Months | Cumulative | NA | 8.30% | INR 1,279.15 |
| Series 5 | 60 Months | Annual | 8.4% | 8.39% | INR 1,000 |
| Series 6 | 60 Months | Cumulative | NA | 8.40% | INR 1,497.41 |
Cholamandalam Non-Convertible Debentures Lead Managers
A.K. CAPITAL SERVICES LIMITED
603, 6th Floor, Windsor Off CST Road,
Kalina Santacruz (East), Mumbai – 400 098 Maharashtra
Phone:Â +91 22 6754 6500
Email:Â [email protected]
Website: www.akgroup.co.in
Cholamandalam Non Convertible Debentures Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower B Plot 31-32,
Gachibowli Financial District Nanakramguda Serilingampally,
Hyderabad Rangareddi – 500 032 Telangana, India
Phone:Â +91 40 6716 2222
Email:Â chola.ncdipo@kfintech. com
Website: www.kfintech.com
Cholamandalam NCD Documents
Cholamandalam Contact Details
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Dare House, No. 2, N.S.C. Bose Road,
Parrys, Chennai 600 001, Tamil Nadu, India
Phone:Â +91 44 4090 7172
Email:Â [email protected]
Website: www.cholamandalam.com
Cholamandalam NCD July 2023 Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
| 3 Aug 2023 | 1.80 | 3.32 | 3.46 | 2.14 | 2.70 |
| 2 Aug 2023 | 1.13 | 3.84 | 3.43 | 2.04 | 2.60 |
| 1 Aug 2023 | 1.00 | 3.24 | 3.02 | 1.86 | 2.27 |
| 31 Jul 2023 | 1.00 | 2.99 | 3.02 | 1.77 | 2.19 |
| 28 Jul 2023 | 1.00 | 2.99 | 2.99 | 1.42 | 2.12 |
Cholamandalam NCD July 2023 Allotment Status
Cholamandalam NCD July 2023 allotment status will be updated on the website of KFin Technologies’ website. Click on this link to get allotment status.
Cholamandalam NCD Tranche I FAQs
What is the face value and lot size of Cholamandalam NCD July 2023?
The NCDs will be issued at a face value of INR 1,000 each NCD and the minimum lot size is 10 NCDs.
What is the frequency of interest payment in Cholamandalam NCD July 2023?
The frequency of payment for Cholamandalam NCD is Annual.
What is the basis of allotment in Cholamandalam NCD July 2023 offer?
Cholamandalam NCDs will be allotted on a First Come First Serve Basis.
