Tranche I Prospectus
April 19, 2023
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Our Company was originally incorporated as a public limited company under the name of 'Cholamandalam Investment and Finance Company Limited' under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Tamil Nadu at Chennai ("RoC") on August 17, 1978. It commenced its business pursuant to a certificate of commencement of business dated November 22, 1978 issued by the RoC. The name of our Company was changed to 'Cholamandalam DBS Finance Limited' pursuant to a fresh certificate of incorporation issued by the RoC on April 12, 2006 and was subsequently changed to 'Cholamandalam Investment and Finance Company Limited' pursuant to a fresh certificate of incorporation issued by the RoC on June 2, 2010. The CIN of our Company is L65993TN1978PLC007576. We have obtained a certificate of registration dated June 9, 2011, bearing number 07-00306 issued by the RBI to commence/ carry on the business of non-banking financial institution under Section 45-IA of the RBI Act, 1934 and another certificate of registration dated December 15, 2022, bearing number N-07-00893, to commence/ carry on the factoring business without accepting public deposits. Further, our Company has also been classified as NBFC-ICC. For more information about our Company, please see "General Information" on page 16 of this Tranche I Prospectus and "History and Certain Corporate Matters" on page 160 of the Shelf Prospectus.
Corporate Identity Number: L65993TN1978PLC007576; PAN: AAACC1226H Registered and Corporate Office: Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai 600 001, Tamil Nadu, India
Tel: +91 44 4090 7172; Website: www.cholamandalam.com; Email: investors@chola.murugappa.com
Company Secretary and Compliance Officer: P. Sujatha; Tel: +91 44 4090 7172; Email: sujathap@chola.murugappa.com
Chief Financial Officer: D. Arul Selvan; Tel: +91 44 4090 7172; Email: arulselvand@chola.murugappa.com
PUBLIC ISSUE BY CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED ("COMPANY" OR THE "ISSUER") OF SECURED, RATED, LISTED, REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ₹ 1,000 EACH ("NCDs") FOR AN AMOUNT AGGREGATING UP TO ₹ 500 CRORES ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO ₹ 500 CRORE, AGGREGATING UP TO ₹ 1,000 CRORE (HEREINAFTER REFERRED TO AS THE "TRANCHE I ISSUE") WHICH IS WITHIN THE SHELF LIMIT OF ₹ 5,000 CRORES AND IS BEING OFFERED BY WAY OF THIS TRANCHE I PROSPECTUS DATED APRIL 19, 2023, CONTAINING INTER ALIA THE TERMS AND CONDITIONS OF TRANCHE I ISSUE ('TRANCHE I PROSPECTUS), WHICH SHOULD BE READ TOGETHER WITH THE SHELF PROSPECTUS DATED APRIL 19, 2023 ("SHELF PROSPECTUS") FILED WITH THE REGISTARAR OF COMPANIES, TAMIL NADU AT CHENNAI ("ROC"), STOCK EXCHANGES AND SECURITIES AND EXCHANGE BOARD IF INDIA ("SEBI"). THE SHELF PROSPECTUS AND THE TRANCHE I PROSPECTUS CONSTITUTES THE PROSPECTUS ("PROSPECTUS").
THIS TRANCHE I ISSUE IS BEING MADE PURSUANT TO THE PROVISIONS OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON - CONVERTIBLE SECURITIES) REGULATIONS, 2021, AS AMENDED (THE "SEBI NCS REGULATIONS"), THE COMPANIES ACT, 2013 AND RULES MADE THEREUNDER, EACH AS AMENDED (THE "COMPANIES ACT, 2013") TO THE EXTENT NOTIFIED AND THE SEBI OPERATIONAL CIRCULAR. THE ISSUE IS NOT UNDERWRITTEN.
OUR PROMOTERS
Our Promoters are Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan hold shares on behalf of the firm) Tube Investments of India Limited New Ambadi Estates Private Limited, Coromandel International Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, M A Alagappan (holds shares on behalf of Kadamane Estates).
Tel: +91 44 4090 7172; Email: investors@chola.murugappa.com. For further details, see "Our Promoters" beginning on page 177 of the Shelf Prospectus.
GENERAL RISKS
Investment in debt securities involve a degree of risk and investors should not invest any funds in such securities unless they can afford to take the risk attached to such investments. Investors are advised to take an informed decision and to read the risk factors carefully before investing in this offering. For taking an investment decision, investors must rely on their examination of the issue including the risks involved in it. Specific attention of investors is invited to statement of risk factors contained under "Risk Factors" on page 15 of the Shelf Prospectus and "Material Developments" on page 227 of the Shelf Prospectus and page 35 of this Tranche I Prospectus. These risks are not, and are not intended to be, a complete list of all risks and considerations relevant to the debt securities or investor's decision to purchase such securities. This Tranche I Prospectus has not been and will not be approved by any regulatory authority in India, including the Securities and Exchange Board of India ("SEBI"), the Reserve Bank of India ("RBI"), RoC or any stock exchange in India nor do they guarantee the accuracy or adequacy of this document.
ISSUER'S ABSOLUTE RESPONSIBILITY
Our Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Tranche I Prospectus read together with the Shelf Prospectus, contains all information with regard to our Company and this Tranche I Issue, which is material in the context of this Tranche I Issue. The information contained in this Tranche I Prospectus read together with the Shelf Prospectus, is true and correct in all material respects and is not misleading in any material respect and that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Tranche I Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect.
CREDIT RATING
The NCDs proposed to be issued pursuant to this Tranche I Issue have been rated IND AA+/Stable by India Ratings & Research Private Limited for an amount of up to ₹ 5,000 crores by way of its letter bearing dated February 15, 2023 (further revalidated on March 20, 2023 and April 13, 2023) and [ICRA]AA+ (Stable) by ICRA Limited by way of its letter dated March 16, 2023 (further revalidated on April 3, 2023). Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. The press release by the rating agencies in relation to the Issue shall not be older than one year from the date of the opening of the Issue. The rating provided by the Credit Rating Agencies may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other rating. These ratings are not a recommendation to buy, sell or hold securities and investors should take their own decisions. For the rationale and press release for these ratings, see "General Information" and "Annexure A" of this Tranche I Prospectus, beginning on page 16 and 102, respectively.
PUBLIC COMMENTS
The Draft Shelf Prospectus dated March 31, 2023 was filed with BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE" along with BSE, the "Stock Exchanges"), pursuant to the provisions of SEBI NCS Regulations and was open for public comments for a period of seven Working Days from the date of filing of the Draft Shelf Prospectus with the Stock Exchanges until 5:00 p.m. on April 13, 2023. No comments were received on the Draft Shelf Prospectus until 5:00 p.m. on April 13, 2023.
LISTING
The NCDs offered through this Tranche I Prospectus and the Shelf Prospectus are proposed to be listed on BSE and NSE. Our Company has received an 'in-principle' approval from BSE by way of its letter bearing reference number DCS/BM/Pi- BOND/002/23-24 dated April 13, 2023 and from NSE by way of its letter bearing reference number NSE/LIST/D/2023/0090 dated April 13, 2023. NSE shall be the Designated Stock Exchange.
COUPON RATE, COUPON PAYMENT FREQUENCY, RDEMPTION DATE, REDEMPTION AMOUNT AND ELIGIBLE INVESTORS
For details pertaining to Coupon Rate, Coupon Payment Frequency, Redemption Date and Redemption Amount of the NCDs, see "Terms of the Issue" beginning on page 36 of this Tranche I Prospectus . For details relating to eligible investors, see "Issue Structure" beginning on page 50 of this Tranche I Prospectus.
LEAD MANAGER TO THE ISSUE | REGISTRAR TO THE ISSUE | ||||
A. K. Capital Services Limited | KFin Technologies Limited (formerly known as KFIN Technologies Private Limited) | ||||
603, 6th Floor, Windsor, Off CST Road, Kalina, Santacruz East, Mumbai 400 098, | Selenium, Tower B, Plot No- 31 & 32, Financial District, Nanakramguda, Serilingampally, | ||||
Maharashtra, India | Hyderabad Rangareddi 500 032, Telangana, India | ||||
Tel: +91 22 6754 6500 | Tel: +91 40 6716 2222 | ||||
Facsimile: +91 22 6610 0594 | Facsimile: +91 40 6716 1563 | ||||
Email: chola.ncd2023@akgroup.co.in | Email: chola.ncdipo@kfintech.com | ||||
Investor Grievance Email: investor.grievance@akgroup.co.in | Investor Grievance Email: einward.ris@kfintech.com | ||||
Website: www.akgroup.co.in | Website: www.kfintech.com | ||||
Contact Person: Aanchal Wagle/ Milan Soni | Contact Person: M Murali Krishna | ||||
Compliance Officer: Tejas Davda | SEBI Registration No.: INR000000221 | ||||
SEBI Registration No: INM000010411 | CIN: L72400TG2017PLC117649 | ||||
CIN: L74899MH1993PLC274881 | |||||
CREDIT RATING AGENCIES | DEBENTURE TRUSTEE** | JOINT STATUTORY AUDITORS | |||
M/s. Price Waterhouse LLP | M/s. Sundaram & Srinivasan, | ||||
7th and 10th Floor, | 23, CP Ramaswamy Road, Alwarpet, | ||||
Menon Eternity, | Chennai 600018, | ||||
165, St. Mary's Road, | Tamil Nadu, India | ||||
Alwarpet, Chennai 600 018 | Tel: 044 2498 8762 | ||||
IDBI Trusteeship Services Limited** | Tel: 91 80 4079 5000 | Firm Registration No.: 004207S | |||
India Ratings & Research Pvt Ltd | ICRA Limited | Asian Building, Ground Floor, 17, R Kamani Marg, | Firm Registration No.: 01112E/E300264 | Email: usha@sundaramandsrinivasan.co.in | |
Email: abdul.majeed@pwc.com | Peer Review Certificate No.: 013703 | ||||
Building No.8, 2nd Floor, Tower A, | |||||
Wockhardt Towers, 4th Floor, West Wing, | Ballard Estate, Mumbai 400 001, | ||||
Peer Review Certificate No.: 012776 | Contact Person: S. Usha | ||||
Bandra Kurla Complex, | DLF Cyber City, Phase II, | Maharashtra, India | |||
Contact Person: A.J. Shaikh | |||||
Gurgaon 122 002, | |||||
Bandra East, Mumbai 400 051, | Tel: +91 22 40807073 | ||||
Haryana, India | |||||
Maharashtra, India | Facsimile: +91 22 66311776 | ||||
Tel: +91 124 454 5300 | |||||
Tel: +91 22 4000 1700 | Email: itsl@idbitrustee.com / jinal@idbitrustee.com | ||||
Facsimile: +91 124 405 0424 | |||||
Facsimile: + 91 22 4000 1701 | Investor Grievance Email: response@idbitrustee.com | ||||
Email: shivakumar@icraindia.com | |||||
Email: infogrp@indiaratings.co.in | Website: www.idbitrustee.com | ||||
Website: www.icra.in | |||||
Website: www.indiaratings.co.in | Contact Person: Jinal Shah | ||||
Contact Person: L. Shivakumar | |||||
Contact Person: Jinay Gala | Compliance Officer: Sneha Jadhav | ||||
SEBI Registration No: | |||||
Compliance Officer: Arunima Basu | SEBI Registration No.: IND000000460 | ||||
IN/CRA/008/15 | |||||
CIN: U65991MH2001GOI131154 | |||||
CIN: L74999DL1991PLC042749 | |||||
TRANCHE I ISSUE PROGRAMME* |
TRANCHE I ISSUE OPENS ON: APRIL 25, 2023
TRANCHE I ISSUE CLOSES ON: MAY 9, 2023
- This Tranche I Issue shall remain open for subscription on Working Days from 10 a.m. to 5 p.m.(Indian Standard Time) during the period indicated in this Tranche I Prospectus, except that this Tranche I Issue may close on such earlier date or extended date as may be decided by the Board of Directors of our Company or Debenture Committee subject to compliance with Regulation 33A of the SEBI NCS Regulations. In the event of an early closure or extension of this Tranche I Issue, our Company shall ensure that notice of the same is provided to the prospective investors through an advertisement in all the newspapers in which pre-issue advertisement for opening of this Tranche I Issue have been given on or before such earlier or initial date of Tranche I Issue closure. Application Forms for this Tranche I Issue will be accepted only from 10:00 a.m. to 5:00 p.m. or such extended time as may be permitted by the Stock Exchanges, on Working Days during the Tranche I Issue Period. On the Tranche I Issue Closing Date, the Application Forms will be accepted only between 10 a.m. and 3 p.m. (Indian Standard Time) and uploaded until 5 p.m. or such extended time as may be permitted by the Stock Exchanges. Further, pending mandate requests for bids placed on the last day of bidding will be validated by 5 p.m. (Indian Standard Time) on one Working Day after the Tranche I Issue Closing Date. For further details please refer to the chapter titled "Issue Related Information" on page 36 of this Tranche I Prospectus.
-
IDBI Trusteeship Services Limited pursuant to Regulation 8 of the SEBI NCS Regulations and by way of letter dated March 27, 2023 has given its consent for its appointment as Debenture Trustee to the Issue and for its name to be included in the Draft Shelf Prospectus, the Shelf Prospectus and this Tranche I Prospectus and in all the subsequent periodical communications sent to the holders of the Debentures issued pursuant to this Tranche I Issue.
A copy of the Shelf Prospectus and this Tranche I Prospectus have been filed with the RoC, in terms of Section 26 and Section 31 of the Companies Act, 2013, along with the endorsed/ certified copies of all requisite documents. For further details, see "Material Contracts and Documents for Inspection" beginning on page 99 of this Tranche I Prospectus.
TABLE OF CONTENTS | |
FORWARD-LOOKING STATEMENTS | 13 |
CERTAIN CONVENTIONS, USE OF FINANCIAL, INDUSTRY AND MARKET DATA AND CURRENCY | |
PRESENTATION | 14 |
SECTION II: INTRODUCTION | 16 |
GENERAL INFORMATION | 16 |
OBJECTS OF THE ISSUE | 24 |
STATEMENT OF POSSIBLE TAX BENEFITS AVAILABLE TO THE DEBENTURE HOLDERS | 27 |
MATERIAL DEVELOPMENTS | 35 |
SECTION III: ISSUE RELATED INFORMATION | 36 |
TERMS OF THE ISSUE | 36 |
ISSUE STRUCTURE | 50 |
ISSUE PROCEDURE | 55 |
OTHER REGULATORY AND STATUTORY DISCLOSURES | 85 |
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION | 99 |
DECLARATION | 101 |
ANNEXURE A: CREDIT RATINGS AND RATING RATIONALES | 102 |
ANNEXURE B: CONSENT OF THE DEBENTURE TRUSTEE | 103 |
ANNEXURE C: ILLUSTRATIVE CASH FLOW AND DAY COUNT CONVENTION | 104 |
(i)
SECTION I: GENERAL
DEFINITIONS AND ABBREVIATIONS
This Tranche I Prospectus uses certain definitions and abbreviations which, unless the context otherwise indicates or implies, shall have the meaning ascribed to such definitions and abbreviations set forth. References to any legislation, act, regulation, rules, guidelines, clarifications or policies shall be to such legislation, act, regulation, rules, guidelines, clarifications or policies as amended, supplemented or re-enacted from time to time until the date of this Tranche I Prospectus, and any reference to a statutory provision shall include any subordinate legislation notified from time to time pursuant to such provision.
The words and expressions used in this Tranche I Prospectus but not defined herein shall have, to the extent applicable, the same meaning ascribed to such words and expressions under the SEBI NCS Regulations, the Companies Act, 2013, the SCRA, the Depositories Act, the RBI Act and the rules and regulations notified thereunder.
General Terms
Term | Description |
Company / Issuer | Cholamandalam Investment and Finance Company Limited, a public limited company incorporated under |
the provisions of the Companies Act, 1956, having its Registered Office at Dare House, No. 2, N.S.C. | |
Bose Road, Parrys, Chennai 600 001, Tamil Nadu, India | |
We / us / our | Unless the context otherwise indicates or implies, refers to our Company |
Company related terms
Term | Description | |||
Articles | / | Articles | of | Articles of association of our Company |
Association / AoA | ||||
Audit Committee | Audit committee of Board of Directors of our Company, constituted in accordance with applicable laws | |||
Board / Board of Directors | Board of directors of our Company and includes any committee constituted thereof | |||
Borrowings | Borrowings includes debt securities and borrowings other than debt securities and subordinated liabilities | |||
Chairperson | The Chairperson of our Board of Directors | |||
CHFL | Cholamandalam Home Finance Limited | |||
Corporate Office | Corporate office of our Company located at Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai 600 | |||
001, Tamil Nadu, India | ||||
Corporate Social Responsibility | Corporate social responsibility committee of Board of Directors of our Company constituted in accordance | |||
Committee | with applicable laws | |||
Committee | A committee constituted by the Board, from time to time | |||
Company | Secretary | and | The company secretary and compliance officer of our Company | |
Compliance Officer | ||||
CSEC/CSL | Cholamandalam Securities Limited | |||
Debenture Committee | Debenture committee of Board of Directors of our Company, constituted in accordance with applicable | |||
laws | ||||
Director(s) | Director(s) of our Company | |||
Equity Shares | Equity shares of face value ₹ 2 each of our Company | |||
Group Companies | Cholamandalam MS General Insurance Company Limited, Cholamandalam MS Risk Services Limited, | |||
Cherry Tin Online Private Limited, CE Info Systems Private Limited, Medall Healthcare Private Limited, | ||||
Parry Agro Industries Limited, Parry Enterprises India Limited, Paytail Commerce Private Limited, and | ||||
White Data Systems India Private Limited | ||||
Independent Directors(s) | Independent director(s) of our Company, as disclosed under "Our Management", beginning on page 167 | |||
of the Shelf Prospectus. | ||||
Key Managerial Personnel(s) / | Key managerial personnel(s) of our Company as disclosed under "Our Management", beginning on page | |||
KMP(s) | 167 of the Shelf Prospectus and appointed in accordance with provisions of the Companies Act, 2013. | |||
Limited Review Financials / | The Unaudited Standalone Financial Results and Unaudited Consolidated Financial Results for the quarter | |||
Limited Review Financial | and nine months ended December 31, 2022 prepared in accordance with Indian Accounting Standards (Ind | |||
Results/ Unaudited Interim | AS) as per the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and | |||
Financial Results | notified under Section 133 of the Companies Act, 2013 and presented in accordance with the requirements | |||
of the SEBI LODR Regulations | ||||
Memorandum / Memorandum | Memorandum of association of our Company | |||
of Association/ MoA | ||||
Nomination and Remuneration | Nomination and remuneration committee of Board of Directors of our Company, constituted in accordance | |||
Committee/ NRC | with applicable laws | |||
2 |
Term | Description | |
Non-Executive Director(s) | Non-executive director(s) of our Company, as disclosed under "Our Management", beginning on page | |
167 of the Shelf Prospectus. | ||
Promoters | Cholamandalam Financial Holdings Limited, Ambadi Investments Limited, M V Subbiah, M A | |
Alagappan, A Vellayan, A Venkatachalam, M M Murugappan, M M Venkatachalam, M A M | ||
Arunachalam, S Vellayan, Arun Alagappan, M M Veerappan, V Narayanan, V Arunachalam, M M | ||
Muthiah, M V Muthiah, Arun Venkatachalam, M V Subramanian, M V Murugappan HUF, M V Subbiah | ||
HUF, M A Alagappan HUF, A Vellayan HUF, A Venkatachalam HUF, M M Murugappan HUF, M A M | ||
Arunachalam HUF, M M Venkatachalam HUF, M M Muthiah HUF, A M M Arunachalam HUF, | ||
Murugappa & Sons (M V Subbiah, M A Alagappan & M M Murugappan hold shares on behalf of the | ||
firm) Tube Investments of India Limited, New Ambadi Estates Private Limited, Coromandel International | ||
Limited, Ambadi Enterprises Limited, Carborundum Universal Limited, E.I.D. Parry (India) Limited, M | ||
A Alagappan (holds shares on behalf of Kadamane Estates). | ||
Promoter Group | Includes such persons and entities constituting the promoter group of our Company pursuant to Regulation | |
2 (1) (pp) of the SEBI ICDR Regulations, 2018, as amended | ||
PTPL | Payswiff Technologies Private Limited | |
Reformatted | Standalone | The Reformatted Standalone Financial Information of the Company comprises of the Reformatted |
Financial Information | Standalone Statement of Asset and Liabilities as at March 31, 2022, March 31, 2021 and March 31, 2020, | |
Reformatted Standalone Statement of Profit and Loss (including Other Comprehensive Income), | ||
Reformatted Standalone Statement of Changes in Equity and Reformatted Standalone Cash Flow | ||
Statement for the each of the years ended March 31, 2022, March 31, 2021 and March 31, 2020 and Notes | ||
to the Reformatted Standalone Financial Information. | ||
The Reformatted Standalone Financial Information have been prepared from the audited standalone | ||
financial statements of our Company as at and for each of the years ended March 31, 2022, March 31, | ||
2021 and March 31, 2020, which are prepared in accordance with Indian Accounting Standards (Ind AS) | ||
specified under the Section 133 of the Companies Act, 2013, Companies (Indian Accounting Standards) | ||
Rules, 2015 as amended from time to time and other relevant provisions of the Act, which have been | ||
approved by the Board of Directors of our Company at their meetings held on May 5, 2022, May 7, 2021 | ||
and June 3, 2020 respectively. | ||
Reformatted | Consolidated | The Reformatted Consolidated Financial Information of the Company and its subsidiaries (the Company |
Financial Information | and its subsidiaries together referred to as the "Group") and its associate companies and joint venture (as | |
applicable for respective year) comprises of the Reformatted Consolidated Statement of Asset and | ||
Liabilities as at March 31, 2022, March 31, 2021 and March 31, 2020, Reformatted Consolidated | ||
Statement of Profit and Loss (including Other Comprehensive Income), Reformatted Consolidated | ||
Statement of Changes in Equity and Reformatted Consolidated Cash Flow Statement for the each of the | ||
years ended March 31, 2022, March 31, 2021 and March 31, 2020 and Notes to the Reformatted | ||
Consolidated Financial Information. | ||
The Reformatted Consolidated Financial Information have been prepared from the audited consolidated | ||
financial statements of the Group and its subsidiaries and joint venture (as applicable for respective year) | ||
as at and for each of the years ended March 31, 2022, March 31, 2021 and March 31, 2020, which are | ||
prepared in accordance with Indian Accounting Standards (Ind AS) specified under the Section 133 of the | ||
Companies Act, 2013, Companies (Indian Accounting Standards) Rules, 2015 as amended from time to | ||
time and other relevant provisions of the Act, which have been approved by the Board of Directors of our | ||
Company at their meetings held on May 5, 2022, May 7, 2021 and June 3, 2020 respectively. | ||
Reformatted | Financial | Reformatted Standalone Financial Information and Reformatted Consolidated Financial Information |
Information | ||
Registered Office | Registered office of our Company located at Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai 600 | |
001, Tamil Nadu, India | ||
Registrar of Companies / RoC | Registrar of Companies, Chennai at Tamil Nadu | |
Shareholders | Equity Shareholders of our Company from time to time | |
Statutory | Auditor(s)/ Joint | M/s. Price Waterhouse LLP and M/s. Sundaram & Srinivasan |
Statutory Auditor(s)/ Auditor(s) | ||
Subsidiaries | The subsidiaries of our Company, namely, Cholamandalam Securities Limited, Cholamandalam Home | |
Finance Limited, and Payswiff Technologies Private Limited* | ||
* Even though the Company holds 73.82% of the paid-up equity capital of PTPL as of March 31, 2022, in | ||
view of founder reserved matters and dispute resolution mechanism envisaged in the shareholder | ||
agreement executed between the group and founders of PTPL dated January 17, 2022, the group is | ||
considered to have joint control over PTPL as per Ind AS 28 read with IND AS 110. Hence, it is classified | ||
as investment in joint venture in the audited consolidated financial statements of the Company for the | ||
Financial Year ended March 31, 2022 and the Reformatted Financial Information. | ||
Issue related terms
3
Term | Description | |||
Abridged Prospectus | A memorandum containing the salient features of the Shelf Prospectus and this Tranche I Prospectus | |||
Acknowledgement Slip/ | The slip or document issued by the Designated Intermediary to an Applicant as proof of registration of | |||
Transaction Registration | the Application Form | |||
Slip/ TRS | ||||
A. K. Capital/Lead Manager | A. K. Capital Services Limited | |||
Allot/ Allotment / Allotted | Unless the context otherwise requires, the issue and allotment of the NCDs pursuant to this Tranche I | |||
Issue | ||||
Allotment Advice | The communication sent to the Allottees conveying details of NCDs allotted to the Allottees in accordance | |||
with the Basis of Allotment | ||||
Allottee(s) | The successful Applicant to whom the NCDs are Allotted, either in full or in part in terms of this Tranche | |||
I Issue | ||||
Applicant / Investor / ASBA | The person who applies for issuance and Allotment of NCDs through ASBA process or through UPI | |||
Applicant / ASBA Bidder | Mechanism pursuant to the terms of the Shelf Prospectus, this Tranche I Prospectus, the Abridged | |||
Prospectus and Application Form for this Tranche I Issue. | ||||
Application / ASBA Application | An application (whether physical or electronic) to subscribe to the NCDs offered pursuant to this Tranche | |||
I Issue by submission of a valid Application Form and authorising an SCSB to block the Application | ||||
Amount in the ASBA Account or to block the Application Amount using the UPI Mechanism, where the | ||||
Bid Amount or an Application Amount of up to UPI Application Limit will be blocked upon acceptance | ||||
of UPI Mandate Request by retail investors which will be considered as the application for Allotment in | ||||
terms of the Shelf Prospectus and this Tranche I Prospectus. | ||||
Application Amount | The aggregate value of the NCDs applied for, as indicated in the Application Form for this Tranche I | |||
Issue | ||||
Application Form / ASBA Form | The form in terms of which the Applicant shall make an offer to subscribe to the NCDs through the ASBA | |||
process or through the UPI Mechanism and which will be considered as the Application for Allotment of | ||||
NCDs and in terms of the Shelf Prospectus and this Tranche I Prospectus | ||||
ASBA Account | A bank account maintained by an ASBA Bidder with an SCSB, as specified in the ASBA Form submitted | |||
by ASBA Applicants for blocking the Bid Amount mentioned in the ASBA Form, and will include a bank | ||||
account of a retail individual investor linked with UPI, for retail individual investors submitting | ||||
application value up to UPI Application Limit | ||||
ASBA Applicant | Any Applicant who applies for NCDs through the ASBA process | |||
ASBA / Application Supported | The Application whether physical or electronic) to subscribe to the NCDs offered pursuant to the Issue | |||
by Blocked Amount | by submission of a valid Application by authorising SCSB to block the Application Amount in the | |||
specified bank account maintained with such SCSB or to block the Application Amount using the UPI | ||||
Mechanism, where the Bid Amount will be blocked upon acceptance of UPI Mandate Request by retail | ||||
investors for an Application Amount of up to UPI Application Limit which will be considered as the | ||||
application for Allotment in terms of Shelf Prospectus and this Tranche I Prospectus. | ||||
Banker to the Issue | Collectively Public Issue Account Bank, Refund Bank and Sponsor Bank | |||
Base Issue Size/ Base Issue | ₹ 500 crore | |||
Basis of Allotment | The basis on which NCDs will be allotted to applicants as described in "Issue Procedure - Basis of | |||
Allotment for NCDs" on page 78 of this Tranche I Prospectus. | ||||
Bidding Centres | Centres at which the Designated Intermediaries shall accept the Application Forms, i.e., Designated | |||
Branches of SCSB, Specified Locations for Consortium, Broker Centres for Registered Brokers, | ||||
Designated RTA Locations for RTAs and Designated CDP Locations for CDPs. | ||||
Broker Centres | Broker centres notified by the Stock Exchange where Applicants can submit the ASBA Forms (including | |||
ASBA Forms under UPI in case of UPI Investors) to a Registered Broker. The details of such Broker | ||||
Centres, along with the names and contact details of the Registered Brokers are available on the website | ||||
of the Stock Exchanges at www.bseindia.com and www.nseindia.com | ||||
BSE | BSE Limited | |||
Category | I | Investor | • | Public financial institutions, scheduled commercial banks, and Indian multilateral and bilateral |
(Institutional Investors) | development financial institutions which are authorised to invest in the NCDs; | |||
• | Provident funds and pension funds each with a minimum corpus of ₹ 25 crores, superannuation | |||
funds and gratuity funds, which are authorised to invest in the NCDs; | ||||
• | Alternative Investment Funds, subject to investment conditions applicable to them under the | |||
Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012; | ||||
• | Resident Venture Capital Funds registered with SEBI; | |||
• | Insurance companies registered with the IRDAI; | |||
• | State industrial development corporations; | |||
• | Insurance funds set up and managed by the army, navy, or air force of the Union of India; | |||
• | Insurance funds set up and managed by the Department of Posts, the Union of India; | |||
4 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Cholamandalam Investment and Finance Company Limited published this content on 19 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 06:47:05 UTC.