8.40% Cholamandalam NCD April 2023


Last updated on May 6, 2023

NCD Subscription Allotment Status
Cholamandalam NCD April 2023

Cholamandalam NCD April 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 – 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 April 2023 Details

Subscription Dates25 Apr – 27 Apr 2023
Security TypeSecured, Redeemable, Non-Convertible Debentures
Face ValueINR 1,000 per NCD
Issue PriceINR 1,000 per NCD
Issue Size (Base)INR 500 crores
Overall Issue Size (including oversubscription)INR 1,000 crores
Minimum Lot Size10 NCDs
Market Lot1 NCD
Tenor22 months
37 months
60 months
Credit RatingIND AA+/Stable
ICRA AA+ Stable
Category ReservationCategory 1 (QIB): 20%
Category 2 (NII): 25%
Category 3 (HNI): 25%
Category 4 (Retail): 30%
Basis of AllotmentFirst Come First Serve
Listing OnBSE, NSE

Cholamandalam NCD April 2023 – Options and Coupon Rates

OptionTenureInterest PaymentCoupon RateEffective YieldMaturity Amount
Series 122 monthsAnnual8.25%8.26%INR 1,000
Series 222 monthsCumulativeNA8.25%INR 1,156.64
Series 337 monthsAnnual8.30%8.30%INR 1,000
Series 437 monthsCumulativeNA8.30%INR 1,279.15
Series 760 monthsAnnual8.40%8.39%INR 1,000
Series 860 monthsCumulativeNA8.40%INR 1,497.40

Cholamandalam Non-Convertible Debentures Lead Manager

A. K. Capital Services Limited
603, 6th Floor, Windsor, Off CST Road,
Kalina, Santacruz East, Mumbai 400 098
Phone: +91 22 6754 6500
Email: [email protected]
Website: www.akgroup.co.in

Cholamandalam Non-Convertible Debentures Registrar

Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com

Cholamandalam NCD Documents

Cholamandalam Contact Details

Dare House, No. 2, N.S.C. Bose Road,
Parrys, Chennai 600 001, Tamil Nadu, India
Phone: +91 44 4090 7172
Email: [email protected]
Website: www.cholamandalam.com

Cholamandalam NCD April 2023 Subscription Status (no. of times)

27 Apr 20233.708.732.021.873.99
26 Apr 20233.708.691.971.753.93
25 Apr 20233.708.642.091.403.85

Cholamandalam NCD April 2023 Allotment Status

Cholamandalam NCD April 2023 allotment status is now updated on the website of KFin Technologies’ website. Click on this link to get allotment status.

Cholamandalam NCD April 2023 FAQs

What are the face value and lot size of Cholamandalam NCD April 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 April 2023?

The frequency of payment for Cholamandalam NCD is Annual, & Cumulative.

What is the basis of allotment in the Cholamandalam NCD April 2023 offer?

Cholamandalam NCDs will be allotted on a First Come First Serve Basis.


  1. The article states that the effective yield for Series I with a tenure of 22 months is 8.60% which is incorrect. Please note that for Series I, the effective yield is 8.40% with a Tenure of 22 months at a coupon rate of 8.25%.

    Request you to make the necessary changes in your article as soon as possible.


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