Cholamandalam to raise Rs.10 Bn via largest private perpetual bond

28 Aug 2024 CW Team

Cholamandalam Investment and Finance Company Ltd. (CIFCL) is set to raise ?10 billion by issuing India's largest privately placed perpetual bond. This bond sale represents a significant financial move, as perpetual bonds do not have a fixed maturity date, offering investors steady returns indefinitely unless the issuer decides to redeem them.

The funds raised through this bond sale will help Cholamandalam strengthen its capital base, allowing the company to expand its lending operations, particularly in vehicle finance and small business loans. The company expects robust demand for this bond issue, given its strong market reputation and consistent financial performance.

Perpetual bonds have become an attractive option for companies like Cholamandalam looking to raise capital without impacting their balance sheet leverage, as these bonds are typically considered equity by rating agencies. By opting for a privately placed bond, Cholamandalam can reach institutional investors more directly and efficiently.

This move aligns with the company?s broader strategy of tapping into diverse funding sources to support its growing operations. It also reflects the increasing interest in perpetual bonds as a financing tool in India's corporate landscape.

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