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

The offering was oversubscribed 5.17 times the base issue (Rs 500 crore) on the final day of the issue

Cholamandalam Investment

Abhijit Lele

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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).

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First Published: Apr 27 2023 | 11:55 PM IST

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