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.
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