Cholamandalam Investment allotment of 5000 cr secured securities
Cholamandalam Investment and Finance Company Limited has allotted secured non-convertible securities worth ₹5000 crore through a private placement on the NSE EBP platform. The issuance comprises 500,000 securities with a tenure of 2 years and 9 months, carrying a coupon rate linked to the 3-month T-Bill plus 2.75%. The securities are listed in the WDM segment of the NSE.
*this image is generated using AI for illustrative purposes only.
Cholamandalam Investment and Finance Company Limited has allotted secured non-convertible securities worth ₹5000 crore through a private placement on the NSE EBP platform. The issuance, which totals 500,000 securities, carries a tenure of 2 years and 9 months, or 1007 days, and is secured at 1x. The securities are listed in the WDM segment of the NSE, providing the company with long-term funding.
The coupon rate for the securities is set at the 3-month T-Bill rate plus 2.75%, with the first reset coupon established at 8.12%. Interest payments are scheduled annually on February 27, with the first payment due on February 27, 2026, and the final payment on the maturity date of February 27, 2029. The allotment was made in compliance with Regulation 30 and 30(A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The filing confirms there are no special rights, interests, or privileges attached to the securities. Additionally, the company reported no delays in the payment of interest or principal for a period exceeding three months from the due date, nor any default in payment. There were no letters or comments received regarding payment or non-payment of interest, principal, or any other matter concerning the security and its assets.
Key Details of the Allotment
| Particulars | Remarks |
|---|---|
| Type of Security | Secured Non-Convertible Securities |
| Type of Issuance | Private Placement – NSE EBP |
| No of Securities | 500000 |
| Amount allotted | 5000 crs |
| Size of the Issue | 5000 crs (No green shoe) |
| Listing | Listed in WDM Segment of NSE |
| Tenure | 2 years 9 month (1007 days) |
| Coupon Rate | 3m T-Bill + 2.75% 8.12% First Reset Coupon |
| Coupon Frequency | 27th Feb 2026, Annual and on Maturity date (27th Feb 2029) |
| Security | Secured at 1x |
Historical Stock Returns for Cholamandalam Investment
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.76% | +4.49% | +0.70% | -7.81% | -3.99% | +190.24% |
How will the proceeds from this ₹5000 crore issuance be allocated to support Cholamandalam's lending growth?
What impact will the floating coupon rate structure have on the company's interest expense if T-Bill rates rise over the tenure?
Does this successful private placement indicate a strategy to shift further towards long-term secured debt for future capital requirements?
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