Chola Fin raises Rs 1,000 crore through maiden public bond offering

Cholamandalam Investment and Finance Company Limited (CIFCL) has raised Rs 1,000 crore through its maiden public issue of non-convertible debentures (NCDs). The offering was oversubscribed 5.17 times the base issue (Rs 500 crore) on the final day of the issue. It had a green shoe option of Rs 500 crore. The coupon on bonds varies between 8.25-8.40 per cent depending on maturity date (between 22 months to 60 months).