Cholamandalam Investment & Finance Company Ltd:
Cholamandalam Investment and Finance Company Limited provide its non-banking finance services in India. This company offers several types of loans including, commercial and two-wheeler vehicles, car, tractor, MUV; loan for construction equipment, properties, self-construction based home loans, plot purchases, ready for occupation homes, etc. Apart from this, it also offers home equity loans, transfer of existing loans in some cases, business loans for medium and small firms, agricultural loans and mortgage loans for corporate.
The company also offers other services, including wealth management services. This service covers fixed deposits, bonds, general insurance, mutual funds, Pvt. Home loans, advisory services for investment; stockbroking services for derivatives, stocks, mutual funds, bonds, and exchange-traded funds. It also provides services like depository participant, internet broking and Demat. As of April 2018, it has been operating through 873 branches across the nation. This Chennai-based company was incorporated in 1978.
As early as in 1986, Standard Chartered Bank (SCB) initially had 28% stake in the company which was then increased to 30% and SCB disinvested in the company in 1993 based on a strategic decision for their business. Other group companies belonging to this are Amphetronix, Carborundum universal, EID Parry, PARRY Confectionary, Tube Investment of India, etc.
In January of 1995, CIFCL announces that their public equity shared is now priced at Rs. 90, which summed up to Rs. 42.5 crore. This was done to partially finance the long terms projects of the company, which would help in the expansion of their present activities.
On 27th August 2004, the stock exchanges were informed by Cholamandalam Investment and Finance Company that CARSL would now act as a subsidiary of the company with immediate effect. On 6th October in 2005, the company announced that they would proceed with a transaction devoid of the preferential issue with the DBS Bank Ltd, Singapore. On the18th of December 2006, Cholamandalam DBS Finance Ltd declared that they were now registered by the RBI as a Non-Deposit, Non-Banking Finance Company.
On 3rd February 2010, Cholamandalam DBS Finance declared to the stock exchanges that the company had now acquired 3.47 lakh equity shares belonging to another non-banking finance company CFACT. After this acquisition, CFACT turned into a subsidiary of the company as Cholamandalam’s aggregate holding turned in 95.55%.
On 11th May in 2010, Cholamandalam DBS Finance entered into an agreement with a member f the World Bank, IFC (International Finance Corporation) for receiving 1.08 crore equity shares with an issue price amounting to Rs 92 per equity and summing up to Rs 100.23 crore. In February 2013, CIFCL and Cholamandalam Investment were now qualified for the institutional placement of the equity shares. The company now agreed to allot Rs 285 per share for 1.02 crore equity shares summing up to a total of Rs. 300 crore. In June 2015, the stock exchanges were informed by CIFCL that they received an upgrade from the previous CRISIL AA-/Positive to CRISIL AA/Stable by CRISIL (credit rating organization) for their long term debt instrument.
On 29th January in 2016, CIFCL confirmed that they had closed the ongoing negotiations with White Data (M/s. White Data Systems India Pvt. Ltd) and the other promoters for an investment of Rs 8 crore in White Data. The Company announced that it would be looking forward to acquiring 63% of the equity in White Data for a price of Rs 62.70 summing up to Rs 8 crore.
On 28th September in 2017, Cholamandalam Investment and Finance Company informed that an upgrade was for the long term debt rating of the company (CIFCL) from Research and Care Ratings and India Ratings.
The Board of Directors of CIFCL announced at a meeting on December 2017 that they had approved the matter involving the issuance of 3500 Masala bonds. These bonds were of Non-Convertible Debentures and Secured Redeemable nature, face-value being at Rs 1 crore at par, summing up to Rs 3500 crore.
How Cholamandalam Investment & Finance Company Ltd, is categorised as a Finance Sector, and Finance and Investment Industry :
Financial and Investments industry comprises the companies that derive its business by providing economical services which encompass a broad range of managing money, credit-card companies, including credit unions, banks, accountancy companies, consumer-finance companies, insurance companies, stock brokerages, individual managers, investment funds, and some government-sponsored enterprises. It also engages in advisory based financial transactions on account of individuals, organisations, and governments.
Cholamandalam Investment & Finance Company Ltd is categorised as a Finance Sector, and Finance and Investment Industry. The finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
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