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Cholamandalam Investment & Finance Company Ltd.

BSE: 511243 Sector: Financials
NSE: CHOLAFIN ISIN Code: INE121A01016
BSE 15:57 | 19 Jan 1320.05 9.90
(0.76%)
OPEN

1315.60

HIGH

1332.70

LOW

1301.70

NSE 15:48 | 19 Jan 1322.70 8.10
(0.62%)
OPEN

1320.00

HIGH

1330.95

LOW

1300.20

OPEN 1315.60
PREVIOUS CLOSE 1310.15
VOLUME 3733
52-Week high 1371.00
52-Week low 913.00
P/E 25.29
Mkt Cap.(Rs cr) 20,634
Buy Price 1320.05
Buy Qty 90.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1315.60
CLOSE 1310.15
VOLUME 3733
52-Week high 1371.00
52-Week low 913.00
P/E 25.29
Mkt Cap.(Rs cr) 20,634
Buy Price 1320.05
Buy Qty 90.00
Sell Price 0.00
Sell Qty 0.00

Cholamandalam Investment & Finance Company Ltd. (CHOLAFIN) - Company History

Promoted by A M M Arunachalam, M V Murugappa, and M V Subbaiah on 17 Aug.'78 as a public limited company, Cholamandalam Investment & Finance Company (CIFL), belonging to the Murugappa group, commenced business on 22 Nov.'78. In 1986, Standard Chartered Bank (SCB) took up a 28% stake which was later increased to 30%. SCB disinvested its holding in 1993 as a part of its strategic review of its business. Other group companies are EID Parry, Amphetronix, Parry Confectionery, Carborundum Universal, Tube Investment of India, etc. CIFL leases industrial plant and machinery. It offers fund-based financial services like hire purchase, leasing, auto finance, trade finance and services in non-fund areas like merchant banking. It is a SEBI-approved category-I merchant banker. In 1991-92, the company ventured into auto-finance for cars and commercial vehicles. In Jan.'95, CIFL came out with a public issue of equity shares at a premium of Rs 90, aggregating Rs 42.5 cr, to part-finance its long-term fund requirements to expand its activities. CIFL's public deposit scheme enjoys the FAAA rating from CRISIL. The company ventured into mutual funds, securities trading and risk management through separate subsidiaries / joint ventures. Cholamandalam Securities is its wholly-owned subsidiary. The mutual fund is handled by an asset management company being set up along with Cazenove Fund Management, UK, and the risk management is handled by Cholamandalam Hazard Management, a joint venture with Hazard Management (a 100% subsidiary of the Sun Alliance Insurance group, UK). The Company continues to maintain a MAAA rating indicating highest safety for Fixed Deposits and NCDs from ICRA. In 1999-2000, CRISIL has revised its rating for Fixed Deposits to FAA indicating strong safety. The Company continues to enjoy the highest CRISIL rating of P1+ for commercial paper. The company made a Right issue in the ratio of 1:2 to its existing shareholders in 2003.