Cholamandalam Investment and Finance Company Limited has successfully allotted 50,000 secured non-convertible debentures, raising ₹500 crore. The issuance is part of a larger ₹1,500 crore issue size, which includes a ₹1,000 crore green shoe option. These securities, listed on the NSE WDM segment, carry an annual coupon rate of 8.08% and have a tenure of 3 years and 1 month, maturing on June 5, 2029.
Issuance Overview
Cholamandalam Investment and Finance Company Limited has announced the successful allotment of secured non-convertible debentures. The company has raised ₹500 crore through the private placement route, specifically via the NSE EBP platform. This allotment consists of 50,000 units, contributing to a total issue capacity of ₹1,500 crore, which accounts for a ₹1,000 crore green shoe option.
Key Terms and Maturity
The securities are issued with a tenure of 3 years and 1 month (totaling 1,127 days). Investors will receive an annual coupon rate of 8.08%. The payment schedule is set for June 5th of each year, with the final maturity and payment occurring on June 5, 2029. The instrument is secured at 1x, providing a clear structure for the debt obligation.
Listing and Compliance
The debentures are officially listed on the Wholesale Debt Market (WDM) segment of the National Stock Exchange (NSE). The company has confirmed that there have been no delays in interest or principal payments, nor any defaults or outstanding legal comments regarding the security, ensuring full compliance with the terms of the issue.
Source: BSE
