CHOLAHLDNG
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India New Issue-Cholamandalam Investment to issue subordinated bonds, bankers say
MUMBAI, May 30 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($117 million), including five billion rupees of a greenshoe option, through sale of subordinated bonds maturing in seven years, three merchant bankers said on Friday.
The company will pay an annual coupon of 8.57% on this issue and has invited bids from bankers and investors on Monday, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7-year | 8.57 | 5+5 | June 2 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.4600 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, May 30 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($117 million), including five billion rupees of a greenshoe option, through sale of subordinated bonds maturing in seven years, three merchant bankers said on Friday.
The company will pay an annual coupon of 8.57% on this issue and has invited bids from bankers and investors on Monday, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7-year | 8.57 | 5+5 | June 2 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.4600 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
India New Issue-Cholamandalam Investment accepts bids for bond issue, bankers say
MUMBAI, May 28 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 20 billion rupees ($233.5 million) for bonds maturing in two years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 7.38% on this issue and had invited bids from bankers and investors on Tuesday, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 28:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 7.38 | 20 | May 27 | AA+ (Icra, India Ratings) |
Bajaj Finance June 2027 reissue | 2 year and 1 month | To be decided | 5+25 | May 28 | AAA (Crisil) |
Tata Capital Feb 2028 reissue | 2 year and 8 months | To be decided | 1+3.50 | May 28 | AAA (Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6720 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, May 28 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 20 billion rupees ($233.5 million) for bonds maturing in two years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 7.38% on this issue and had invited bids from bankers and investors on Tuesday, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 28:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 7.38 | 20 | May 27 | AA+ (Icra, India Ratings) |
Bajaj Finance June 2027 reissue | 2 year and 1 month | To be decided | 5+25 | May 28 | AAA (Crisil) |
Tata Capital Feb 2028 reissue | 2 year and 8 months | To be decided | 1+3.50 | May 28 | AAA (Icra, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.6720 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
India New Issue-Cholamandalam Investment to issue 2-year bonds, bankers say
MUMBAI, May 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($235.1 million), including a greenshoe option of 15 billion rupees, by selling bonds maturing in two years, three merchant bankers said on Monday.
The company will pay an annual coupon of 7.38% on this issue and has invited bids from bankers and investors on Tuesday, they said.
Here is the list of deals reported so far on May 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 7.38 | 5+15 | May 27 | AA+ (Icra, India Ratings) |
Poonawalla Fincorp | 2 years | 7.60 | 11.25+3.75 | May 27 | AAA (Crisil) |
Poonawalla Fincorp | 3 year and 1 month | 7.65 (yield) | 5+5 | May 27 | AAA (Crisil) |
Jio Credit | 3 years | To be decided | 10+5 | May 27 | AAA (Crisil, Care) |
IRFC | 3 years | To be decided | 5+25 | May 28 | AAA (Crisil, Care, Icra) |
IRFC | 5 years | To be decided | 5+25 | May 28 | AAA (Crisil, Care, Icra) |
NABARD Sept 2028 reissue | 3 years and 4 months | To be decided | 20+50 | May 28 | AAA (Crisil, India rating) |
L&T Finance | 2 year and 1 month | 7.2092 | 7.50 | May 26 | AAA (India Ratings, Icra) |
L&T Finance June 2028 reissue | 3 year and 1 month | 7.2509 (yield) | 7.50 | May 26 | AAA (India Ratings, Icra) |
Aditya Birla Capital | 2 years and 9 months | 7.38 | 7.20 | May 23 | AAA(Crisil) |
Aditya Birla Capital | 4 years and 6 months | 7.47 | 3.75 | May 23 | AAA(Crisil) |
Aditya Birla Capital Feb 2030 reissue | 4 years and 9 months | 7.52 (yield) | 6.80 | May 23 | AAA(Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.0880 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza
Editing by)
MUMBAI, May 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($235.1 million), including a greenshoe option of 15 billion rupees, by selling bonds maturing in two years, three merchant bankers said on Monday.
The company will pay an annual coupon of 7.38% on this issue and has invited bids from bankers and investors on Tuesday, they said.
Here is the list of deals reported so far on May 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 7.38 | 5+15 | May 27 | AA+ (Icra, India Ratings) |
Poonawalla Fincorp | 2 years | 7.60 | 11.25+3.75 | May 27 | AAA (Crisil) |
Poonawalla Fincorp | 3 year and 1 month | 7.65 (yield) | 5+5 | May 27 | AAA (Crisil) |
Jio Credit | 3 years | To be decided | 10+5 | May 27 | AAA (Crisil, Care) |
IRFC | 3 years | To be decided | 5+25 | May 28 | AAA (Crisil, Care, Icra) |
IRFC | 5 years | To be decided | 5+25 | May 28 | AAA (Crisil, Care, Icra) |
NABARD Sept 2028 reissue | 3 years and 4 months | To be decided | 20+50 | May 28 | AAA (Crisil, India rating) |
L&T Finance | 2 year and 1 month | 7.2092 | 7.50 | May 26 | AAA (India Ratings, Icra) |
L&T Finance June 2028 reissue | 3 year and 1 month | 7.2509 (yield) | 7.50 | May 26 | AAA (India Ratings, Icra) |
Aditya Birla Capital | 2 years and 9 months | 7.38 | 7.20 | May 23 | AAA(Crisil) |
Aditya Birla Capital | 4 years and 6 months | 7.47 | 3.75 | May 23 | AAA(Crisil) |
Aditya Birla Capital Feb 2030 reissue | 4 years and 9 months | 7.52 (yield) | 6.80 | May 23 | AAA(Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.0880 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza
Editing by)
India New Issue-Cholamandalam Investment accepts bids for bond issue, bankers say
MUMBAI, April 9 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($57.9 million) for subordinated bonds maturing in seven years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.75% on this issue and had invited bids from bankers and investors on Tuesday, they said.
Here is the list of deals reported so far on April 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 8.75 | 5 | April 8 | AA+ (Icra, India Ratings) |
L&T Finance | 3 years and 2 months | 7.5934 | 1+4 | April 11 | AAA (India Ratings, Icra) |
L&T Finance | 5 years | To be decided | 1+4 | April 11 | AAA (Care, IcRA) |
*Size includes base plus greenshoe for some issues
($1 = 86.3760 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza
Editing by)
MUMBAI, April 9 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($57.9 million) for subordinated bonds maturing in seven years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.75% on this issue and had invited bids from bankers and investors on Tuesday, they said.
Here is the list of deals reported so far on April 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 8.75 | 5 | April 8 | AA+ (Icra, India Ratings) |
L&T Finance | 3 years and 2 months | 7.5934 | 1+4 | April 11 | AAA (India Ratings, Icra) |
L&T Finance | 5 years | To be decided | 1+4 | April 11 | AAA (Care, IcRA) |
*Size includes base plus greenshoe for some issues
($1 = 86.3760 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza
Editing by)
India New Issue-Cholamandalam Investment to issue 7-year bonds, bankers say
MUMBAI, April 7 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($116.56 million), including a greenshoe option of 5 billion rupees, selling subordinated bonds maturing in seven years, three merchant bankers said on Monday.
The company will pay an annual coupon of 8.75% on this issue and has invited bids from bankers and investors on Tuesday, they said.
The company did not immediately reply to a Reuters request for comment.
Here is the list of deals reported so far on April 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 8.75 | 5+5 | April 8 | AA+ (Icra, India Ratings) |
REC | 15 years | To be decided | 5+25 | April 8 | AAA (Crisil, Icra, Care) |
* Size includes base plus greenshoe for some issues
($1 = 85.7920 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
MUMBAI, April 7 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($116.56 million), including a greenshoe option of 5 billion rupees, selling subordinated bonds maturing in seven years, three merchant bankers said on Monday.
The company will pay an annual coupon of 8.75% on this issue and has invited bids from bankers and investors on Tuesday, they said.
The company did not immediately reply to a Reuters request for comment.
Here is the list of deals reported so far on April 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 8.75 | 5+5 | April 8 | AA+ (Icra, India Ratings) |
REC | 15 years | To be decided | 5+25 | April 8 | AAA (Crisil, Icra, Care) |
* Size includes base plus greenshoe for some issues
($1 = 85.7920 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
India New Issue-Cholamandalam Investment accepts bids for 2-year bonds, bankers say
MUMBAI, March 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 11.75 billion rupees ($137.2 million) for bonds maturing in two years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.19% on this issue and had invited bids from bankers and investors on Tuesday, they said.
The company did not immediately reply to a Reuters request for comment.
Here is the list of deals reported so far on March 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 8.19 | 11.75 | March 25 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.6640 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, March 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 11.75 billion rupees ($137.2 million) for bonds maturing in two years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.19% on this issue and had invited bids from bankers and investors on Tuesday, they said.
The company did not immediately reply to a Reuters request for comment.
Here is the list of deals reported so far on March 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | 8.19 | 11.75 | March 25 | AA+ (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 85.6640 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
India New Issue-Cholamandalam Investment to issue 2-year bonds, bankers say
MUMBAI, March 25 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 12 billion rupees ($140.22 million), including a greenshoe option of two billion rupees, selling bonds maturing in two years, three merchant bankers said on Tuesday.
The company has invited bids from bankers and investors for the issue later in the day, they said.
Here is the list of deals reported so far on March 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | Two years | To be decided | 10+2 | March 25 | AA+ (Icra, India Ratings) |
* Size includes base plus greenshoe for some issues
($1 = 85.5790 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
MUMBAI, March 25 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 12 billion rupees ($140.22 million), including a greenshoe option of two billion rupees, selling bonds maturing in two years, three merchant bankers said on Tuesday.
The company has invited bids from bankers and investors for the issue later in the day, they said.
Here is the list of deals reported so far on March 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | Two years | To be decided | 10+2 | March 25 | AA+ (Icra, India Ratings) |
* Size includes base plus greenshoe for some issues
($1 = 85.5790 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
India New Issue-Cholamandalam Investment accepts bids for bond issue, bankers say
MUMBAI, March 5 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 10 billion rupees ($114.80 million) for subordinated bonds maturing in seven years, three merchant bankers said on Wednesday.
It will pay an annual coupon of 9.05% on this issue and had invited bids from bankers and investors earlier in the day, they said.
A company official confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on March 5:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 9.05 | 10 | March 5 | AA+ (Icra, India Ratings) |
Aditya Birla Finance | 3 year and 5 months | 7.9413 | 2.50 + 12.50 | March 6 | AAA (Crisil, Icra) |
Tata Capital Jan 2027 reissue | 1 year and 10 months | To be decided | 1.50 + 6 | March 6 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 87.1080 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
MUMBAI, March 5 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 10 billion rupees ($114.80 million) for subordinated bonds maturing in seven years, three merchant bankers said on Wednesday.
It will pay an annual coupon of 9.05% on this issue and had invited bids from bankers and investors earlier in the day, they said.
A company official confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on March 5:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 9.05 | 10 | March 5 | AA+ (Icra, India Ratings) |
Aditya Birla Finance | 3 year and 5 months | 7.9413 | 2.50 + 12.50 | March 6 | AAA (Crisil, Icra) |
Tata Capital Jan 2027 reissue | 1 year and 10 months | To be decided | 1.50 + 6 | March 6 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 87.1080 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
India New Issue-Cholamandalam Investment to issue 7-year bonds
MUMBAI, March 4 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 15 billion rupees ($171.75 million), including a greenshoe option of 5 billion rupees, selling subordinated bonds maturing in seven years, three merchant bankers said on Tuesday.
It will pay an annual coupon of 9.05% on this issue and has invited bids from bankers and investors on Wednesday, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 9.05 | 10+5 | March 5 | AA+ (Icra, India Ratings) |
AnZen India Energy Yield Plus Trust | 3 years | 7.77 (quarterly) | 7 | March 5 | AAA (Crisil, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 87.3340 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala
)
MUMBAI, March 4 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 15 billion rupees ($171.75 million), including a greenshoe option of 5 billion rupees, selling subordinated bonds maturing in seven years, three merchant bankers said on Tuesday.
It will pay an annual coupon of 9.05% on this issue and has invited bids from bankers and investors on Wednesday, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 7 years | 9.05 | 10+5 | March 5 | AA+ (Icra, India Ratings) |
AnZen India Energy Yield Plus Trust | 3 years | 7.77 (quarterly) | 7 | March 5 | AAA (Crisil, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 87.3340 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala
)
REFILE-India's financial stocks jump as central bank further eases strict lending rules
Corrects to Thursday from Wednesday in first paragraph
Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.
Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.
The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.
Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.
"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.
On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.
Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.
In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.
The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.
Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.
Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.
However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.
"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."
(Reporting by Sethuraman NR; Editing by Savio D'Souza)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Corrects to Thursday from Wednesday in first paragraph
Feb 27 (Reuters) - Shares of most Indian financial companies, especially those of non-bank and microfinance-focussed lenders, jumped on Thursday after the central bank further eased its capital requirements for micro loans and bank credit.
Financial stocks .NIFTYFIN, which include non-bank finance companies (NBFCs), jumped about 1%, outpacing the 0.7% increase in banking stocks .NSEBANK. The benchmark Nifty 50 .NSEI, in comparison, was flat.
The Reserve Bank of India, on Tuesday, trimmed the higher capital requirements introduced in November, the latest in a series of growth-supportive measures since Sanjay Malhotra took over as governor in December.
Under his watch, the RBI has eased liquidity, delayed some regulations and loosened restrictions placed on some lenders.
"We think this bodes well for the financial sector and lays more emphasis on consumption and growth ... and (we) reiterate our bullish view," Macquarie analyst Suresh Ganapathy said in a note.
On the day, Bandhan Bank BANH.NS gained 6%, while Shriram Finance SHMF.NS, AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS rose about 5% each.
Cholamandalam Investment and Finance CHLA.NS and Aditya Birla Capital ADTB.NS advanced 4.5% each. Bajaj Finance BJFN.NS rose 2.7% and IndusInd Bank INBK.NS gained 2%.
In comparison, top private lenders such as ICICI Bank ICBK.NS and HDFC Bank HDBK.NS were up under 1%.
The RBI's move should help most NBFCs' earnings, Morgan Stanley analysts said, picking Aditya Birla Capital, PNB Housing, Shriram Finance and Bajaj Finance as top beneficiaries.
Nomura analysts said banks with higher microfinance loan exposure, such as Bandhan Bank, IndusInd and AU Small Finance Bank, would also get much needed relief.
Since the rules were implemented in November, Aditya Birla Capital's shares had slid 16%, while AU Small Finance Bank and IndusInd Bank sank 28% and 31%, respectively. The worst hit, with a 38% tumble, was Bandhan Bank -- the day's top gainer.
However, Axis Bank Chief Economist Neelkanth Mishra cautioned that a reversal in the broad-based slide in loan growth -- caused by high liquidity costs and the RBI's discomfort with high loan-to-deposit ratios -- could take time.
"While these (RBI) signals should help revive lending, we believe the binding constraint remains durable liquidity."
(Reporting by Sethuraman NR; Editing by Savio D'Souza)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India New Issue-Cholamandalam Investment accepts bids for bond issue, bankers say
MUMBAI, Feb 14 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($57.55 million) for bonds maturing in three years, three merchant bankers said on Friday.
It will pay an annual coupon of 8.20% and had invited bids from bankers and investors for the issue earlier in the day, they said.
A company official confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on February 14:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.20 | 5 | Feb. 14 | AA+ (Icra, India Ratings) |
THDC India | 10 years | 7.73 | 7 | Feb. 14 | AA (Care) |
HDB Financial April 2027 reissue | 2 years and 2 months | 7.90 (yield) | 5 | Feb. 14 | AAA (Crisil, Care) |
Narayana Hrudayalaya | 5 years | 8.40 | 5 | Feb. 14 | AA (Icra) |
Bamboo Hotel and Global Centre | Nearly 3 years | 10.81 | 8.08 | Feb. 13 | Provisional A+(CE)(Icra) |
PFC | 3 years and 2 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
* Size includes base plus greenshoe for some issues
($1 = 86.8825 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
MUMBAI, Feb 14 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($57.55 million) for bonds maturing in three years, three merchant bankers said on Friday.
It will pay an annual coupon of 8.20% and had invited bids from bankers and investors for the issue earlier in the day, they said.
A company official confirmed the details of the bond issue via an email.
Here is the list of deals reported so far on February 14:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.20 | 5 | Feb. 14 | AA+ (Icra, India Ratings) |
THDC India | 10 years | 7.73 | 7 | Feb. 14 | AA (Care) |
HDB Financial April 2027 reissue | 2 years and 2 months | 7.90 (yield) | 5 | Feb. 14 | AAA (Crisil, Care) |
Narayana Hrudayalaya | 5 years | 8.40 | 5 | Feb. 14 | AA (Icra) |
Bamboo Hotel and Global Centre | Nearly 3 years | 10.81 | 8.08 | Feb. 13 | Provisional A+(CE)(Icra) |
PFC | 3 years and 2 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
PFC | 6 years and 11 months | To be decided | 7+33 | Feb. 17 | AAA (Crisil, Care, Icra) |
* Size includes base plus greenshoe for some issues
($1 = 86.8825 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
India New Issue-Cholamandalam Investment to issue 3-year bonds, bankers say
MUMBAI, Feb 13 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($115.1 million), including a greenshoe option of 5 billion rupees, by selling bonds maturing in three years, three merchant bankers said on Thursday.
It will pay an annual coupon of 8.20% and has invited bids from bankers and investors for the issue on Friday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.20 | 5+5 | Feb. 14 | AA+ (Icra, India Ratings) |
Narayana Hrudayalaya | 5 years | 8.40 | 5 | Feb. 14 | AA (Icra) |
HDFC Life Insurance | 10 years | 8.10 | 10 | Feb. 13 | AAA (Icra) |
Axis Max Life Insurance | 10 years | To be decided | 5 | To be decided | AA+ (Care) |
Bank of Maharashtra | 10 years | To be decided | 5+25 | Feb. 17 | AA+ (Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 86.8800 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
MUMBAI, Feb 13 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($115.1 million), including a greenshoe option of 5 billion rupees, by selling bonds maturing in three years, three merchant bankers said on Thursday.
It will pay an annual coupon of 8.20% and has invited bids from bankers and investors for the issue on Friday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on February 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.20 | 5+5 | Feb. 14 | AA+ (Icra, India Ratings) |
Narayana Hrudayalaya | 5 years | 8.40 | 5 | Feb. 14 | AA (Icra) |
HDFC Life Insurance | 10 years | 8.10 | 10 | Feb. 13 | AAA (Icra) |
Axis Max Life Insurance | 10 years | To be decided | 5 | To be decided | AA+ (Care) |
Bank of Maharashtra | 10 years | To be decided | 5+25 | Feb. 17 | AA+ (Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 86.8800 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
Cholamandalam Financial Holdings Dec-Quarter Consol Net Profit 4.86 Bln Rupees
Feb 7 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS LTD DEC-QUARTER CONSOL NET PROFIT 4.86 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS LTD DEC-QUARTER CONSOL INTEREST INCOME 64.51 BILLION RUPEES
Source text: ID:nBSE72PMbB
Further company coverage: CHOL.NS
(([email protected];))
Feb 7 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS LTD DEC-QUARTER CONSOL NET PROFIT 4.86 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS LTD DEC-QUARTER CONSOL INTEREST INCOME 64.51 BILLION RUPEES
Source text: ID:nBSE72PMbB
Further company coverage: CHOL.NS
(([email protected];))
India's Cholamandalam Investment jumps after CLSA upgrades to 'outperform'
** India's Cholamandalam Investment and Finance CHLA.NS jumps 10% to 1,292.85 rupees
** CLSA upgrades stock to "outperform" from "hold" on favorable risk-reward, keeps PT unchanged at 1,450 rupees
** Co's valuation has corrected to 20x P/E from 25x over the last year due to slowing loan growth, particularly in vehicle loans, says CLSA, adding that it expects a pickup in demand for automobiles in FY26
** Chola's loan growth, ROE profile and consistency in earnings is superior to its vehicle finance peers - CLSA
** Analysts avg rating on stock "buy"; median PT 1,500 rupees, according to LSEG data
** Stock fell 5.9% in 2024, vs 9.4% gains in Nifty Financial Services index .NIFTYFIN
(Reporting by Vivek Kumar M)
** India's Cholamandalam Investment and Finance CHLA.NS jumps 10% to 1,292.85 rupees
** CLSA upgrades stock to "outperform" from "hold" on favorable risk-reward, keeps PT unchanged at 1,450 rupees
** Co's valuation has corrected to 20x P/E from 25x over the last year due to slowing loan growth, particularly in vehicle loans, says CLSA, adding that it expects a pickup in demand for automobiles in FY26
** Chola's loan growth, ROE profile and consistency in earnings is superior to its vehicle finance peers - CLSA
** Analysts avg rating on stock "buy"; median PT 1,500 rupees, according to LSEG data
** Stock fell 5.9% in 2024, vs 9.4% gains in Nifty Financial Services index .NIFTYFIN
(Reporting by Vivek Kumar M)
India New Issue-Cholamandalam Investment accepts bids for bond issue, bankers say
MUMBAI, Jan 22 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($58 million) for subordinated bonds maturing in 10 years, three merchant bankers said on Wednesday.
It will pay an annual coupon of 9.00% and had invited bids from bankers and investors for the issue earlier in the day, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 9.00 | 5 | Jan. 22 | AA+ (Icra) |
M&M Financial | 10 years and 4 months | To be decided | 2+5 | Jan. 23 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.2860 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
MUMBAI, Jan 22 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 5 billion rupees ($58 million) for subordinated bonds maturing in 10 years, three merchant bankers said on Wednesday.
It will pay an annual coupon of 9.00% and had invited bids from bankers and investors for the issue earlier in the day, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 9.00 | 5 | Jan. 22 | AA+ (Icra) |
M&M Financial | 10 years and 4 months | To be decided | 2+5 | Jan. 23 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 86.2860 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
India New Issue-Cholamandalam Investment to issue 10-year bonds, bankers say
MUMBAI, Jan 21 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($115.58 million), including a greenshoe option of 5 billion rupees, through the sale of subordinated bonds maturing in 10 years, three merchant bankers said on Tuesday.
It has invited bids from bankers and investors for the issue on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | To be decided | 5+5 | Jan. 22 | AA+ (Icra) |
Tata Capital Sept 2034 reissue | 9 year and 8 months | To be decided | 3+7 | Jan. 22 | AAA (Crisil, Icra) |
Piramal Capital and Housing | 13 months | To be decided | 4.25+2.25 | Jan. 22 | AA (Icra) |
Piramal Capital and Housing | 2 years | To be decided | 4.25+2.25 | Jan. 22 | AA (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.5190 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, Jan 21 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($115.58 million), including a greenshoe option of 5 billion rupees, through the sale of subordinated bonds maturing in 10 years, three merchant bankers said on Tuesday.
It has invited bids from bankers and investors for the issue on Wednesday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on Jan. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | To be decided | 5+5 | Jan. 22 | AA+ (Icra) |
Tata Capital Sept 2034 reissue | 9 year and 8 months | To be decided | 3+7 | Jan. 22 | AAA (Crisil, Icra) |
Piramal Capital and Housing | 13 months | To be decided | 4.25+2.25 | Jan. 22 | AA (Icra) |
Piramal Capital and Housing | 2 years | To be decided | 4.25+2.25 | Jan. 22 | AA (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 86.5190 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
J.P.Morgan says India's Cholamandalam Investment attractive over long term
** Shares of Cholamandalam Investment and Finance CHLA.NS rise 1.8% to 1,214.80 rupees
** Shares of non-banking lender are down 26% over last 3 months vs a 9% drop in Nifty 50 .NSEI and a 5% fall in NSE Bank index .NSEBANK
** J.P.Morgan says drop amid concerns of slowing macro and auto volumes with rural lending impacted due to unseasonal rains
** While we remain cautious in near-term, correction offers favourable risk-reward to enter CHLA over medium-to-long term - J.P.Morgan
** Says, CHLA's pan-India presence, diversified products offering positions it to deliver steady earnings
** J.P.Morgan expects 26% FY25-27 earnings per share CAGR for CHLA, making current valuations reasonable
** Maintains "overweight" with PT of 1,550 rupees, a 30% premium on last close
** Average rating of 34 analysts covering stock is "buy"; their median PT is 1,530 rupees - LSEG data
(Reporting by Nishit Navin)
(([email protected];))
** Shares of Cholamandalam Investment and Finance CHLA.NS rise 1.8% to 1,214.80 rupees
** Shares of non-banking lender are down 26% over last 3 months vs a 9% drop in Nifty 50 .NSEI and a 5% fall in NSE Bank index .NSEBANK
** J.P.Morgan says drop amid concerns of slowing macro and auto volumes with rural lending impacted due to unseasonal rains
** While we remain cautious in near-term, correction offers favourable risk-reward to enter CHLA over medium-to-long term - J.P.Morgan
** Says, CHLA's pan-India presence, diversified products offering positions it to deliver steady earnings
** J.P.Morgan expects 26% FY25-27 earnings per share CAGR for CHLA, making current valuations reasonable
** Maintains "overweight" with PT of 1,550 rupees, a 30% premium on last close
** Average rating of 34 analysts covering stock is "buy"; their median PT is 1,530 rupees - LSEG data
(Reporting by Nishit Navin)
(([email protected];))
India New Issue-Cholamandalam Investment to issue 2-year bonds, bankers say
MUMBAI, Dec 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 12 billion rupees ($140.71 million), including a greenshoe option of 2 billion rupees, through sale of bonds maturing in two years, three merchant bankers said on Thursday.
It has invited bids from bankers and investors for the issue on Friday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far Dec. 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | To be decided | 10+2 | Dec. 27 | AA+ (Icra) |
TVS Credit Services | 3 years | To be decided | 5+5 | Dec. 27 | AA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.2810 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, Dec 26 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 12 billion rupees ($140.71 million), including a greenshoe option of 2 billion rupees, through sale of bonds maturing in two years, three merchant bankers said on Thursday.
It has invited bids from bankers and investors for the issue on Friday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far Dec. 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 2 years | To be decided | 10+2 | Dec. 27 | AA+ (Icra) |
TVS Credit Services | 3 years | To be decided | 5+5 | Dec. 27 | AA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 85.2810 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
India New Issue-Cholamandalam Investment to issue 10-year bonds, bankers say
MUMBAI, Nov 29 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($236.69 million), including a greenshoe option of 10 billion rupees, through sale of subordinated bonds maturing in 10 years, three merchant bankers said on Friday.
It will pay an annual coupon of 8.92% on this issue and has invited bids from bankers and investors later in the day, they said.
The company did not immediately respond to a Reuters mail seeking comment.
Here is the list of deals reported so far on Nov. 29:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 8.92 | 10+10 | Nov. 29 | AA+ (Icra) |
LIC Housing Finance | 3 years | 7.75 | 13.15 | Nov. 28 | AAA (Crisil, Icra) |
Ultratech Cement | 10 years | 7.22 | 10 | Nov. 25 | AAA (Crisil, India Ratings) |
SIDBI | 3 year 6 month and 16 days | 7.51 | 49.18 | Nov. 25 | AAA (Crisil, Care) |
IREDA | 7 years | 7.37 | 20 | Nov. 25 | AAA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 84.4980 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
MUMBAI, Nov 29 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($236.69 million), including a greenshoe option of 10 billion rupees, through sale of subordinated bonds maturing in 10 years, three merchant bankers said on Friday.
It will pay an annual coupon of 8.92% on this issue and has invited bids from bankers and investors later in the day, they said.
The company did not immediately respond to a Reuters mail seeking comment.
Here is the list of deals reported so far on Nov. 29:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 8.92 | 10+10 | Nov. 29 | AA+ (Icra) |
LIC Housing Finance | 3 years | 7.75 | 13.15 | Nov. 28 | AAA (Crisil, Icra) |
Ultratech Cement | 10 years | 7.22 | 10 | Nov. 25 | AAA (Crisil, India Ratings) |
SIDBI | 3 year 6 month and 16 days | 7.51 | 49.18 | Nov. 25 | AAA (Crisil, Care) |
IREDA | 7 years | 7.37 | 20 | Nov. 25 | AAA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 84.4980 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
India New Issue-Cholamandalam Investment accepts bids for 10-year bonds, bankers say
MUMBAI, Nov 11 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 11 billion rupees (about $130 million) for sale of bonds maturing in 10 years, three merchant bankers said on Monday.
It will pay an annual coupon of 8.50% on this issue, and had invited bids from bankers and investors on Friday, they added.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Nov. 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 8.50 | 11 | Nov. 8 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.3950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, Nov 11 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 11 billion rupees (about $130 million) for sale of bonds maturing in 10 years, three merchant bankers said on Monday.
It will pay an annual coupon of 8.50% on this issue, and had invited bids from bankers and investors on Friday, they added.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Nov. 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | 8.50 | 11 | Nov. 8 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.3950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
Cholamandalam Financial Holdings Sept-Quarter Consol Net Profit 5.26 Billion Rupees
Nov 8 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS SEPT-QUARTER CONSOL NET PROFIT 5.26 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS SEPT-QUARTER CONSOL INTEREST INCOME 60.52 BILLION RUPEES
Source text: ID:nBSE9nq6F7
Further company coverage: CHOL.NS
(([email protected];))
Nov 8 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS SEPT-QUARTER CONSOL NET PROFIT 5.26 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS SEPT-QUARTER CONSOL INTEREST INCOME 60.52 BILLION RUPEES
Source text: ID:nBSE9nq6F7
Further company coverage: CHOL.NS
(([email protected];))
India New Issue-Cholamandalam Investment to issue 10-yr bonds, bankers say
MUMBAI, Nov 7 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 11 billion rupees ($130.53 million), including a greenshoe option of 1 billion rupees, by selling bonds maturing in 10 years, three merchant bankers said on Thursday.
It has invited bids from bankers and investors on Thursday, they added.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Nov. 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | To be decided | 10+1 | Nov. 8 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.2740 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
MUMBAI, Nov 7 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 11 billion rupees ($130.53 million), including a greenshoe option of 1 billion rupees, by selling bonds maturing in 10 years, three merchant bankers said on Thursday.
It has invited bids from bankers and investors on Thursday, they added.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Nov. 7:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 10 years | To be decided | 10+1 | Nov. 8 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 84.2740 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
India New Issue-Cholamandalam Investment to issue 5-year bonds, bankers say
MUMBAI, Oct 1 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 5 billion rupees ($59.67 million) by selling bonds maturing in five years, three merchant bankers said on Tuesday.
The company has invited bids from bankers and investors on Thursday, they added.
Here is the list of deals reported so far on Oct. 1:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 5 years | To be decided | 5 | Oct. 3 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.7970 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
MUMBAI, Oct 1 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 5 billion rupees ($59.67 million) by selling bonds maturing in five years, three merchant bankers said on Tuesday.
The company has invited bids from bankers and investors on Thursday, they added.
Here is the list of deals reported so far on Oct. 1:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 5 years | To be decided | 5 | Oct. 3 | AA+ (Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.7970 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)
India New Issue-Cholamandalam Investment accepts bids for 3-yr bonds, bankers say
MUMBAI, Sept 17 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 15 billion rupees ($179 million) for bonds maturing in three years, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 8.40% and had invited bids from bankers and investors earlier in the day, they added.
Here is the list of deals reported so far on Sept. 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.40 | 15 | Sept. 17 | AA+ (Icra) |
Aditya Birla Renewables | 3 years | To be decided | 20+5 | Sept. 23 | AA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 83.7725 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
MUMBAI, Sept 17 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 15 billion rupees ($179 million) for bonds maturing in three years, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 8.40% and had invited bids from bankers and investors earlier in the day, they added.
Here is the list of deals reported so far on Sept. 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.40 | 15 | Sept. 17 | AA+ (Icra) |
Aditya Birla Renewables | 3 years | To be decided | 20+5 | Sept. 23 | AA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 83.7725 Indian rupees)
(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
India New Issue-Cholamandalam Investment to issue 3-yr bonds, bankers say
MUMBAI, Sept 16 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 15 billion rupees ($178.76 million) through sale of bonds maturing in three years, three merchant bankers said on Monday.
The company will pay an annual coupon of 8.40% and has invited bids from bankers and investors on Tuesday, they added.
Here is the list of deals reported so far on Sept 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.40 | 15 | Sept 17 | AA+ (Icra) |
Tata Housing Development | 3 years | 8.23 | 4.75 | Sept 13 | AA(CareEdge) |
*Size includes base plus greenshoe for some issues
($1 = 83.9130 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
MUMBAI, Sept 16 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 15 billion rupees ($178.76 million) through sale of bonds maturing in three years, three merchant bankers said on Monday.
The company will pay an annual coupon of 8.40% and has invited bids from bankers and investors on Tuesday, they added.
Here is the list of deals reported so far on Sept 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 3 years | 8.40 | 15 | Sept 17 | AA+ (Icra) |
Tata Housing Development | 3 years | 8.23 | 4.75 | Sept 13 | AA(CareEdge) |
*Size includes base plus greenshoe for some issues
($1 = 83.9130 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)
India New Issue-Cholamandalam Investment accepts bids for perpetual bonds, bankers say
MUMBAI, Aug 21 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 10 billion rupees ($119.20 million) for perpetual bonds, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 9.50% and had invited bids from bankers and investors earlier in the day, they added.
The issue will have a call option at end of 10 years and the coupon would be stepped up by 100 basis points if the call option is not exercised.
Here is the list of deals reported so far on Aug. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | perpetual | 9.50 | 10 | Aug. 21 | AA (India Ratings, Icra) |
LIC Housing Finance | 5 years | To be decided | 10+20 | Aug. 22 | AAA (Crisil, Careedge) |
Canara Bank | Perpetual | To be decided | 40 | To be decided | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8950 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)
MUMBAI, Aug 21 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 10 billion rupees ($119.20 million) for perpetual bonds, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 9.50% and had invited bids from bankers and investors earlier in the day, they added.
The issue will have a call option at end of 10 years and the coupon would be stepped up by 100 basis points if the call option is not exercised.
Here is the list of deals reported so far on Aug. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | perpetual | 9.50 | 10 | Aug. 21 | AA (India Ratings, Icra) |
LIC Housing Finance | 5 years | To be decided | 10+20 | Aug. 22 | AAA (Crisil, Careedge) |
Canara Bank | Perpetual | To be decided | 40 | To be decided | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8950 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)
India New Issue-Cholamandalam Investment to issue perpetual bonds, bankers say
MUMBAI, Aug 20 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($119.25 million) selling perpetual bonds maturing in 10 years, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 9.50% and has invited bids from bankers and investors on Wednesday, they added.
The issue will have a call option at end of 10 years and the coupon would be stepped up by 100 basis points if the call option is not exercised.
Here is the list of deals reported so far on Aug. 20
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | perpetual | 9.50 | 3+7 | Aug. 21 | AA (India Ratings, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8580 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
MUMBAI, Aug 20 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 10 billion rupees ($119.25 million) selling perpetual bonds maturing in 10 years, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 9.50% and has invited bids from bankers and investors on Wednesday, they added.
The issue will have a call option at end of 10 years and the coupon would be stepped up by 100 basis points if the call option is not exercised.
Here is the list of deals reported so far on Aug. 20
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | perpetual | 9.50 | 3+7 | Aug. 21 | AA (India Ratings, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8580 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
Cholamandalam Financial Holdings June-Quarter Consol Net Profit 5.48 Billion Rupees
Aug 9 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS JUNE-QUARTER CONSOL NET PROFIT 5.48 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS JUNE-QUARTER CONSOL INTEREST INCOME 56.43 BILLION RUPEES
Source text for Eikon: ID:nBSE1Z9knQ
Further company coverage: CHOL.NS
(([email protected];))
Aug 9 (Reuters) - Cholamandalam Financial Holdings Ltd CHOL.NS:
CHOLAMANDALAM FINANCIAL HOLDINGS JUNE-QUARTER CONSOL NET PROFIT 5.48 BILLION RUPEES
CHOLAMANDALAM FINANCIAL HOLDINGS JUNE-QUARTER CONSOL INTEREST INCOME 56.43 BILLION RUPEES
Source text for Eikon: ID:nBSE1Z9knQ
Further company coverage: CHOL.NS
(([email protected];))
India New Issue-Cholamandalam Investment accepts bids on bond issue, bankers say
MUMBAI, July 30 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 20 billion rupees ($238.99 million) for subordinated bonds maturing in six years and 11 months, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 9.10% and had invited bids from bankers and investors earlier in the day, they added.
Here is the list of deals reported so far on July 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 6 year and 11 months | 9.10 | 20 | July 30 | AA+ (India Ratings, Icra) |
Tata Capital Housing Sept 2026 reissue | 2 year and 2 months | 8.0298 (yield) | 4 | July 29 | AAA (Crisil, Icra) |
Tata Capital Housing Nov 2027 reissue | 3 year and 4 months | 7.9728 (yield) | 5 | July 29 | AAA (Crisil, Icra) |
IIFCL | 15 years | 7.41 | 5.15 | July 30 | AAA (India Ratings) |
LIC Housing May 2034 reissue | 9 years and 10 months | 7.62 (yield) | 7.51 | July 29 | AAA (Crisil, Careedge) |
Bank of Maharashtra | 10 years | To be decided | 5+25 | Aug 1 | AA+ (Icra, Careedge Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.6840 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)
MUMBAI, July 30 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS has accepted bids worth 20 billion rupees ($238.99 million) for subordinated bonds maturing in six years and 11 months, three merchant bankers said on Tuesday.
The company will pay an annual coupon of 9.10% and had invited bids from bankers and investors earlier in the day, they added.
Here is the list of deals reported so far on July 30:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 6 year and 11 months | 9.10 | 20 | July 30 | AA+ (India Ratings, Icra) |
Tata Capital Housing Sept 2026 reissue | 2 year and 2 months | 8.0298 (yield) | 4 | July 29 | AAA (Crisil, Icra) |
Tata Capital Housing Nov 2027 reissue | 3 year and 4 months | 7.9728 (yield) | 5 | July 29 | AAA (Crisil, Icra) |
IIFCL | 15 years | 7.41 | 5.15 | July 30 | AAA (India Ratings) |
LIC Housing May 2034 reissue | 9 years and 10 months | 7.62 (yield) | 7.51 | July 29 | AAA (Crisil, Careedge) |
Bank of Maharashtra | 10 years | To be decided | 5+25 | Aug 1 | AA+ (Icra, Careedge Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.6840 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)
India New Issue-Cholamandalam Investment to issue near 7-yr bonds, bankers say
MUMBAI, July 29 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($238.9 million), through the sale of bonds maturing in six years and 11 months, three merchant bankers said on Monday.
The company has invited bids from bankers and investors on Tuesday, they added.
Here is the list of deals reported so far on July 29:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 6 years and 11 months | To be decided | 20 | July 30 | AA+ (India Ratings, Icra) |
IIFCL | 15 years | To be decided | 5+9.75 | July 30 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.7150 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)
MUMBAI, July 29 (Reuters) - India's Cholamandalam Investment and Finance CHLA.NS plans to raise 20 billion rupees ($238.9 million), through the sale of bonds maturing in six years and 11 months, three merchant bankers said on Monday.
The company has invited bids from bankers and investors on Tuesday, they added.
Here is the list of deals reported so far on July 29:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Cholamandalam Investment | 6 years and 11 months | To be decided | 20 | July 30 | AA+ (India Ratings, Icra) |
IIFCL | 15 years | To be decided | 5+9.75 | July 30 | AAA (India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.7150 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)
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What does Cholamandalam Fin. do?
Cholamandalam Financial Holdings Limited, a core investment company under the Murugappa Group, provides financial products and risk management services to individual and corporate customers.
Who are the competitors of Cholamandalam Fin.?
Cholamandalam Fin. major competitors are Mah & Mah Finl. Serv, Poonawalla Fincorp, L&T Finance, Piramal Enterprises, Manappuram Finance, Five Star Business, CreditAccess Grameen. Market Cap of Cholamandalam Fin. is ₹34,341 Crs. While the median market cap of its peers are ₹25,645 Crs.
Is Cholamandalam Fin. financially stable compared to its competitors?
Cholamandalam Fin. seems to be less financially stable compared to its competitors. Altman Z score of Cholamandalam Fin. is 0.28 and is ranked 8 out of its 8 competitors.
Does Cholamandalam Fin. pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Cholamandalam Fin. latest dividend payout ratio is 0.58% and 3yr average dividend payout ratio is 0.8%
How has Cholamandalam Fin. allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Cholamandalam Fin. balance sheet?
Cholamandalam Fin. balance sheet is weak and might have solvency issues
Is the profitablity of Cholamandalam Fin. improving?
Yes, profit is increasing. The profit of Cholamandalam Fin. is ₹4,734 Crs for TTM, ₹1,773 Crs for Mar 2024 and ₹1,290 Crs for Mar 2023.
Is the debt of Cholamandalam Fin. increasing or decreasing?
The net debt of Cholamandalam Fin. is decreasing. Latest net debt of Cholamandalam Fin. is -₹9,679.85 Crs as of Mar-25. This is less than Mar-24 when it was ₹1,24,945 Crs.
Is Cholamandalam Fin. stock expensive?
Cholamandalam Fin. is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Cholamandalam Fin. is 15.8, while 3 year average PE is 13.71. Also latest EV/EBITDA of Cholamandalam Fin. is 1.31 while 3yr average is 2.3.
Has the share price of Cholamandalam Fin. grown faster than its competition?
Cholamandalam Fin. has given better returns compared to its competitors. Cholamandalam Fin. has grown at ~49.56% over the last 2yrs while peers have grown at a median rate of 10.02%
Is the promoter bullish about Cholamandalam Fin.?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Cholamandalam Fin. is 46.45% and last quarter promoter holding is 46.45%.
Are mutual funds buying/selling Cholamandalam Fin.?
The mutual fund holding of Cholamandalam Fin. is decreasing. The current mutual fund holding in Cholamandalam Fin. is 20.26% while previous quarter holding is 21.26%.