Cholamandalam to Raise Rs 10,000 Crore via NCDs

Cholamandalam to Raise Rs 10,000 Crore via NCDs

New Delhi: Cholamandalam Investment and Finance Company on Wednesday said it will raise up to Rs 10,000 crore through issue of non-convertible debentures (NCDs).

In a filing to the BSE, the company said its shareholders would meet on July 31 to approve the fund raising plan.

"Consent of the members of the company be and is hereby accorded to offer, issue and allot in one or more tranches secured and unsecured NCDs on a private placement basis ... up to an amount not exceeding Rs 10,000 crore within the overall borrowing limits of the company," Cholamandalam said.

The NCDs, it said, would be alloted to corporates and financial institutions, among others.

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