Intimation under Regulation 30 of SEBI LODR Regulations
Cholamandalam Investment and Finance Company Limited (Scrip Code: CHOLAFIN EQ (NSE), 511243 (BSE)) intimates the allotment of equity shares pursuant to the conversion of Compulsorily Convertible Debentures (CCDs).
Background and Transaction Details
- The company had previously allotted 2,00,000 CCDs on 5 October 2023 to qualified institutional buyers.
- Each CCD had a face value of ₹1,00,000 and carried a 7.5% coupon rate.
- The CCDs contained an early conversion option exercisable on or after 30 September 2025.
- The company received a conversion application from one CCD holder during the conversion window from 1 July 2026 to 7 July 2026.
Conversion Approval and Terms
- The QIP Committee of the Board of Directors approved the conversion of 20,000 CCDs.
- Conversion terms: 20,000 CCDs of face value ₹1,00,000 each converted into 13,54,940 equity shares.
- Equity shares have a face value of ₹2 each.
- Conversion price: ₹1,476.08 per equity share.
- The conversion price represents a 16.50% discount to the seven trading days volume weighted average price (VWAP) of the company's equity shares on NSE preceding 1 July 2026.
Capital Structure Impact
Pre-Allotment Capital Structure:
- Issued Capital: 853,341,866 shares (Value: ₹170,668,373.20)
- Paid-up Capital: 852,658,096 shares (Value: ₹170,531,619.20)
Post-Allotment Capital Structure:
- Issued Capital: 854,696,806 shares (Value: ₹170,939,361.20)
- Paid-up Capital: 854,013,036 shares (Value: ₹170,802,607.20)
Share Characteristics and Listing
- The newly allotted equity shares rank pari-passu with existing equity shares in all respects, including dividends and voting rights.
- The shares will be listed on both BSE Limited and National Stock Exchange of India Limited.