Cholamandalam Financial to invest Rs 350 cr in Chola Investment and Finance

Proposed investment to be subject to Sebi and other regulatory approvals

Cholamandalam Financial Holdings Limited's, formerly known as TI Financial Holdings Limited, Board of Directors approved an investment of upto Rs 350 crore in the proposed preferential issue of Cholamandalam Investment and Finance Company Limited (CIFCL).  

The investment would be in addition to the Company’s present holding of 46.5 per cent in CIFCL, said the company.

The proposed investment would be subject to Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and  applicable regulatory approvals, finalization of the size, pricing and other terms of the issue by CIFCL.