Outcome of board meeting of Cholamandalam Investment & Finance Company

Held on 27 January 2015

Cholamandalam Investment & Finance Company announced that the Board of Directors of the Company at its meeting held on 27 January 2015, inter alia, have approved the following:

1. Payment of Interim Dividend:

Payment of an interim dividend out of profits of the Company for the period ended 31 December 2014 on-

- Compulsorily Convertible Preference Shares (CCPS) of Rs. 100/- each at the rate of 1% per annum paid proportionately for the period commencing from 03 September 2014, being the date of allotment till 31 March 2015

- Equity shares at the rate of 25% being Rs. 2.50 per equity share of Rs. 10/- each.

3. Changes in the constitution of the Board:

- Appointment of M. M. Murugappan as an additional director of the Company.

- Resignation of L. Ramkumar as a director of the Company.

The above changes are with immediate effect.

4. Issue of Non-convertible Debentures:

- Issue of 75,000 secured Redeemable, Non-Convertible Debentures of a face value of Rs. 10 lakhs each at par aggregating to Rs. 7,500 crores in one or more tranches on private placement basis.

- Issue of 6,000 unsecured Redeemable, Non-Convertible Debentures in the nature of subordinated debt of a face value of Rs. 10 lakhs each at par aggregating to Rs. 600 crores in one or more series on private placement basis and

- Issue of 1,000 unsecured Redeemable, Non-Convertible Debentures in the nature of perpetual debt of a face value of Rs. 10 lacs each at par aggregating to Rs. 100 crores in one or more series on private placement basis.

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