On preferential basis
Cholamandalam Investment and Finance Company announced that the Issue Committee of the Board has on 03 September 2014 approved the allotment of 5,00,00,000 1% compulsorily convertible preference shares (CCPS) of Rs. 100/- each aggregating to Rs. 500 crore on a preferential basis to M/s. Dynasty Acquisition (FDI).As per the terms of issue, the CCPS will be converted into 1,22,85,012 equity shares of Rs. 10/- each at a conversion price of Rs. 407/- (including a premium of Rs. 397/-) per equity share not later than 12 months from the date of allotment. CCPS will bear a dividend of 1% per annum payable from the date of allotment till the date of conversion into equity shares.
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