Cholamandalam Investment And Finance Announces Allotment Of Equity Shares And CCDs In QIP Offering

Cholamandalam Investment and Finance Company Limited on Thursday announced that the QIP Committee of the board of directors of the Company has approved the allotment of Equity Shares and compulsorily convertible debentures (CCDs), the company announced through an exchange filing.

The equity shares and CCDs allotted are as follows:

(a) the allotment of 1,69,49,152 Equity Shares of face value ₹2 each to eligible qualified institutional buyers at the Equity Issue Price of ₹1,180 per Equity Share (including a premium of ₹1,178 per Equity Share) and reflecting a discount of ₹20.51 per Equity Share (i.e. 1.71 percent) on the Equity Floor Price of ₹1,200.51 per Equity Share, aggregating to ₹2,000.00 crore (Rupees Two Thousand crore only), pursuant to the Issue in accordance with provisions of SEBI ICDR Regulations; and

(b) the allotment of 2,00,000, 7.5% CCDs of face value ₹1,00,000 each to eligible qualified institutional buyers at the CCD Issue Price of ₹1,00,000 per CCD.

The Issue opened on September 28, 2023 and closed on October 4, 2023 and the same was intimated to you through our letters dated September 28, 2023 and October 4, 2023, respectively.

Pursuant to the allotment of Securities in the Issue, the paid-up equity share capital of the Company stands increased from ₹164.50 crore, comprising of 82,25,04,192 Equity Shares to ₹167.89 crore, comprising of 83,94,53,344 Equity Shares.

Cholamandalam Investment and Finance Company Limited shares

The shares of Chola Finance at 1:20 pm IST were at Rs 1,188.30, down by 1.76 percent. 

Published on: Thursday, October 05, 2023, 01:33 PM IST