Cholamandalam Investment and Finance Company Limited (CIFCL), a leading financial services provider in India, its maiden public issue of secured, rated, listed redeemable non-convertible debentures (NCDs) has been oversubscribed 5.03 times on the first day of the issue which garnered more than Rs 2500 crore.
The issue has a face value of Rs. 1,000 each. The base issue size is Rs. 500 crores with an option to retain oversubscription up to Rs. 500 crore, aggregating up to Rs. 1000 crore, within the Shelf limit of Rs. 5000 crore (“Tranche I Issue”).
A.K. Capital Services Limited is the sole lead manager of the issue.
According to the base issue size, the NCDs were subscribed 1.57 times in the Retail Investor Category, 7.10 times in the Institutional Investor Category, 10.40 times in the Non-Institutional Investors Category, and 2.14 times in the HNI Investors Category. The Issue opened on Tuesday, April 25, 2023, and is scheduled to close on Tuesday, May 9, 2023 (with an option for early closure ).
The issue has seen healthy demand in the Non-Institutional Category of investors with a total collection of Rs 1300 Crore, while Institutional Category collected Rs 710 crore, HNI and Retail Investors categories garnered Rs 267 crore, and Rs 236 crore respectively.
