Cholamandalam NCD January 2024 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 Vehicle Finance, Loan Against Property, Home Loans, and New Businesses. In FY15, CIFCL ventured into the small and medium enterprise loan and housing finance business.
The vehicle finance segment is principally engaged in financing and refinancing new and used vehicles, particularly LCVs, and SCVs. It also finances two-wheelers, three-wheelers, tractors, cars, MUVs, HCVs, and construction equipment. Further, it has also forayed into financing two-wheeler EVs.
As of 30 September 2023, it had 1,267 branches and 571 resident locations across 29 States and Union Territories in India. About 80% of CIFCL’s branches are in rural areas. As of 30 September 2023, the company’s customer base comprised 30.94 lakh active customers, and it had 50,980 full-time employees.
The company’s vehicle finance segment represented 72.03%, 68.76%, 62.85%, and 60.68% of the total AUM as of 31 March 2021, 2022, 2023, and 30 September 2023 respectively, and the company’s Loan Against Property segment represented 21.11%, 21.84%, 20.27%, and 19.90%.
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 January 2024 Details
| Subscription Dates | 19 – 25 Jan 2024 |
| 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 1,663 crores |
| Minimum Lot Size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 24 Months 36 Months 60 Months |
| Credit Rating | ICRA AA+ (Positive) 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 January 2024 – Objects of the Issue
- Onward lending, financing, and repayment of interest and principal of existing debt of the company – 75%
- General corporate purposes – 25%
Cholamandalam NCD January 2024 – Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 24 Months | Annual | 8.45% | 8.44% | INR 1,000 |
| Series 2 | 24 Months | Cumulative | NA | 8.45% | INR 1,175.88 |
| Series 3 | 36 Months | Annual | 8.50% | 8.49% | INR 1,000 |
| Series 4 | 36 Months | Cumulative | NA | 8.50% | INR 1,277.58 |
| Series 5 | 60 Months | Annual | 8.60% | 8.59% | INR 1,000 |
| Series 6 | 60 Months | Cumulative | NA | 8.60% | INR 1,511.28 |
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 [email protected]
Website: www.kfintech.com
Cholamandalam NCD Documents
Cholamandalam Contact Details
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Chola Crest, C54-55 and Super B-4,
Thiru-Vi-Ka Industrial Estate, Guindy,
Chennai 600032, Tamil Nadu, India
Phone:Â +91 44 4090 7172
Email:Â [email protected]
Website: www.cholamandalam.com
Cholamandalam NCD January 2024 Subscription Status (no. of times)
| Date | QIB | NII | HNI | Retail | Total |
|---|---|---|---|---|---|
| 25 Jan 2024 | 1.33 | 4.46 | 2.38 | 3.90 | 2.89 |
| 24 Jan 2024 | 1.33 | 4.10 | 2.75 | 3.85 | 2.88 |
| 23 Jan 2024 | 1.33 | 3.30 | 2.22 | 3.52 | 2.48 |
| 19 Jan 2024 | 1.33 | 2.84 | 1.67 | 2.56 | 2.04 |
Cholamandalam NCD January 2024 Allotment Status
Cholamandalam NCD January 2024 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 January 2024?
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 January 2024?
The frequency of payment for Cholamandalam NCD is Annual and Cumulative.
What is the basis of allotment in Cholamandalam NCD January 2024 offer?
Cholamandalam NCDs will be allotted on a First Come First Serve Basis.
