Company news: Cholamandalam Investment and Finance Co

Cholamandalam Investment and Finance Co has informed the exchange that its board meeting on July 30 inter alia considered and approved issuance of 2.5 lakh secured and/or unsecured redeemable, non-convertible debentures of face value ₹10 lakh each at par aggregating to ₹25,000 crore in one or more tranches on private placement basis; issuance of 20,000 unsecured, redeemable, non-convertible debentures in the nature of Subordinated debt of face value ₹10 lakh each at par aggregating to ₹2,000 crore in one or more series on private placement basis, and issuance of 10,000 unsecured, redeemable, non-convertible debentures in the nature of Perpetual debt of face value ₹10 lakh each at par aggregating to ₹1,000 crore in one or more series on private placement basis. Shares of Cholamandalam Investment closed at ₹241.80, down 2.62 per cent, on the BSE on Tuesday.