Cholamandalam Investment and Finance Company Limited NCD - Apr 2023 Detail

 

Issue Open

 Apr 25, 2023 - May 09, 2023
Issuer Cholamandalam Investment and Finance Company Limited
Instrument Secured, Rated, Listed, Redeemable, Non-Convertible Debentures
Issue Size  Base Issue size of ₹ 500 Crore with an option to retain oversubscription up to ₹ 500 Crore aggregating up to ₹5,000 crores
Issue Price ₹ 1,000 per NCD
Face Value ₹ 1,000 per NCD
Minimum Application size ₹ 10,000 (10 NCDs) and in multiple of ₹ 1,000 (1 NCD) thereafter
Listing At BSE, NSE
Credit Rating “ ICRA AA+ / Stable and IND AA+” by India Ratings & Research Pvt Ltd
Payment Frequency Annually basis from the Deemed Date of Allotment
Issuance and Trading Compulsorily in dematerialized form.
Basis of Allotment First Come First Serve Basis
Put/Call Option There is no put/call option for the NCDs

 

 

 

ISSUE STRUCTURE

Series I II III IV V VI
Frequency of Interest Payment Annual Cumulative Annual Cumulative Annual Cumulative
Minimum Application ₹ 10,000 (10 NCDs) across all series
In Multiples of thereafter (₹) ₹ 1,000 (1 NCD)
Face Value/ Issue Price of NCDs (₹/ NCD) ₹ 1,000
Tenor 22 months 22 months 37 months 37 months 60 months 60 months
Coupon (% per annum) for NCD Holders in all 8.25% NA 8.30% NA 8.40% NA
Categories of Investors 8.26% 8.25% 8.30% 8.30% 8.39% 8.40%
Effective Yield (% per annum) for NCD Holders in all Categories of Investors            
Mode of Interest Payment Through various modes available
Redemption Amount (₹ / NCD) on Maturity for NCD Holders in all Categories of Investors 1,000.00 1,156.64 1,000.00 1,279.15 1,000.00 1,497.40
Maturity / Redemption Date (from the Deemed Date of Allotment) 22 months 22 months 37 months 37 months 60 months 60 months
Put and Call Option Not Applicable

 ALLOCATION RATIO 

Category    Institutional   Non Institutional   High Net worth Individual   Retail Individual Investor
  20% 25% 25% 30%

 


Who can apply 

Category I Category II Category III Category IV
  • Public financial institutions, scheduledcommercial banks, Indian multilateral andbilateral development financial institutionswhich are authorised to invest in theNCDs;
  • Provident funds and pension funds withla minimum corpus of Rs 250 million,superannuation funds and gratuity funds,which are authorised to invest in theNCDs;
  • Alternative Investment Funds, subject toinvestment conditions applicable to themunder the Securities and Exchange Board ofIndia (Alternative Investment Funds)Regulations,2012;
  • Resident Venture Capital Funds registeredwith SEBI;                              
  • Insurance Companies registered with IRDAI;                                                  
  • State industrial development corporations;                                          
  • Insurance funds set up and managed by the army, navy, or air force of the Union of India;                    
  •  Insurance funds set up and managed by the Department of Posts, the Union of India;                                                    
  • Systemically Important Non-Banking Financial Company registered with the RBI and having a net-worth of more than Rs 5,000 million as per the last audited financial statements;                                           
  •  National Investment Fund set up by resolution no. F. No. 2/3/2005 –DDII dated November 23, 2005 of the Government of India published in the Gazette of India; and                                                                                  
  • Mutual Funds registered with SEBI.
  • Companies within the meaning of Section2(20) of the Companies Act,2013;
  • Statutory bodies/ corporations andsocieties registered under the applicablelaws in India and authorised to invest in theNCDs;
  • Co-operative banks andregional ruralbanks;
  • Trusts includingpublic/private charitable/religious trustswhich are authorised to invest in theNCDs;
  • Scientific and/or industrial researchorganisations, which are authorised toinvest in the NCDs;                           
  • Partnership firms in the name of the partners;                                                                          
  • Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009);                                                                        
  • Association of Persons; and                              
  • Any other incorporated and/ or unincorporated body of persons.
  • Resident Indian individualsor Hindu Undivided Familiesthrough the Karta applying foran amount aggregating toabove INR 10,00,000 across alloptions of NCDs in the Issue.         
  • Retail individual investors,resident Indian individuals or Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs 10,00,000 across all options of NCDs in the Issue and shall include Retail Individual Investors, who have submitted bid for an amount not more than UPI Application Limit (being Rs 500,000 for public issue of debt securities) in any of the bidding options in the Issue (including HUFs applying through their Karta and does not include NRIs) though UPI Mechanism.

 

 

 

 

APPLICATIONS CANNOT BE MADE BY
(a) Minors without a guardian name (A guardian may apply on behalf of a minor. However, the name of the guardian will need to be mentioned on the Application Form);
(b) Foreign nationals;
(c) Persons resident outside India;
(d) Foreign Institutional Investors;
(e) Non Resident Indians;
(f) Qualified Foreign Investors;
(g) Overseas Corporate Bodies;
(h) Foreign Venture Capital Funds;
(i) Persons ineligible to contract under applicable statutory/ regulatory requirements.

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