Cholamandalam to issue Rs 3,900 cr debentures

It will issue medium and short term non-convertible debentures of up to Rs 1,400 cr and Rs 2,500 cr, respectively.

Cholamandalam Investment & Finance Company has decided to issue non-convertible debentures worth Rs 3,900 crore on a private placement basis.

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The board approved the issuance of the debentures in one or more series to mutual funds, banks, corporate bodies or other agencies, at its meeting held on Monday, the company informed the Bombay Stock Exchange.

The meeting approved issuing medium term non-convertible debentures up to Rs 1,400 crore and short term non-convertible debentures up to an amount of Rs 2,500 crore, subject to a limit of Rs 600 crore of debentures outstanding at any point in time, it added.