{"id":6021,"date":"2023-04-25T11:10:43","date_gmt":"2023-04-25T11:10:43","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=6021"},"modified":"2026-04-07T12:44:25","modified_gmt":"2026-04-07T12:44:25","slug":"cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/","title":{"rendered":"CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED NCD IPO \u2013 April 2023, should you invest?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#High_Yield_AAStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Cholamandalam_Investment_and_Finance_Company_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >Cholamandalam Investment and Finance Company Limited NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Investment_Process_for_Cholamandalam_Investment_and_Finance_Company_Limited_NCD_IPO\" >Investment Process for Cholamandalam Investment and Finance Company Limited NCD IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Snapshot_stating_the_Assets_Equity_Net_Profit_Return_on_Average_Assets_and_Tier_1_Capital\" >Snapshot stating the Assets, Equity, Net Profit, Return on Average Assets and Tier 1 Capital<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Cons\" >Cons\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Liquidity\" >Liquidity<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#About_Cholamandalam_Investment_and_Finance_Company_Limited\" >About Cholamandalam Investment and Finance Company Limited;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#As_on_December_2022\" >As on December 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Weakness\" >Weakness<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_Yield_AAStable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cholamandalam Investment and Finance Company Limited is issuing the 1st tranche of Non-Convertible Debentures. These NCDs are AA+\/Stable by ICRA and IND ratings. The NCDs are being issued in six series: yield ranges from 8.25% to 8.40% p.a. and different tenures of 22 months, 37 months and 60 months. The NCDs are secured and redeemable in nature. <\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6022\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105646\/Screenshot-2023-04-25-155539-286x300.png\" alt=\"Cholamandalam Investment and Finance Company Limited is issuing the Non-Convertible Debentures\" width=\"554\" height=\"581\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105646\/Screenshot-2023-04-25-155539-286x300.png 286w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105646\/Screenshot-2023-04-25-155539-585x614.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105646\/Screenshot-2023-04-25-155539.png 624w\" sizes=\"(max-width: 554px) 100vw, 554px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cholamandalam_Investment_and_Finance_Company_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><strong>Cholamandalam Investment and Finance Company Limited NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6023\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-300x112.png\" alt=\"Coupon rates and effective yield for each of the series of NCD IPO\" width=\"536\" height=\"200\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-300x112.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-1024x381.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-768x286.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-1536x571.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-2048x762.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-1170x435.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-1920x714.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105702\/Picture9-585x218.png 585w\" sizes=\"(max-width: 536px) 100vw, 536px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><strong>Allocation Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Cholamandalam Investment and Finance Company Limited NCD-IPO.\u00a0<\/span><\/p>\n<h2><img decoding=\"async\" class=\"aligncenter wp-image-6024\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-300x180.png\" alt=\"Allocation Ratio for Cholamandalam Investment and Finance Company Limited NCD IPO\" width=\"526\" height=\"316\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-300x180.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-1024x615.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-768x461.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-1536x923.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-1170x703.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1-585x351.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105724\/Picture7-1.png 1653w\" sizes=\"(max-width: 526px) 100vw, 526px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Cholamandalam_Investment_and_Finance_Company_Limited_NCD_IPO\"><\/span><b>Investment Process for Cholamandalam Investment and Finance Company Limited NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in 3 easy steps.<\/span><\/p>\n<p><b>If the investment amount is\u00a0 less than &amp; up to 10 lakhs,<\/b><span style=\"font-weight: 400;\"> retail investors can apply for an IPO online.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6025\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105754\/12-768x384-1-2-300x150.jpg\" alt=\"Investment Process for Cholamandalam Investment and Finance Company Limited NCD IPO if the investment amount is less than &amp; up to 10 lakhs\" width=\"576\" height=\"288\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105754\/12-768x384-1-2-300x150.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105754\/12-768x384-1-2-585x293.jpg 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105754\/12-768x384-1-2.jpg 768w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/p>\n<p><b>If the investment amount is more than 10 Lakhs. <\/b><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6026\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105811\/11-768x384-1-2-300x150.jpg\" alt=\"Investment Process for Cholamandalam Investment and Finance Company Limited NCD IPO If the investment amount is less than &amp; up to 10 lakhs if the investment amount is more than 10 Lakhs\" width=\"568\" height=\"284\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105811\/11-768x384-1-2-300x150.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105811\/11-768x384-1-2-585x293.jpg 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105811\/11-768x384-1-2.jpg 768w\" sizes=\"(max-width: 568px) 100vw, 568px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Assets_Equity_Net_Profit_Return_on_Average_Assets_and_Tier_1_Capital\"><\/span><span style=\"font-weight: 400;\">Snapshot stating the Assets, Equity, Net Profit, Return on Average Assets and Tier 1 Capital<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6027\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-300x212.png\" alt=\"Financial Overview for Cholamandalam Investment and Finance Company Limited NCD IPO\" width=\"564\" height=\"399\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-300x212.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-1024x724.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-768x543.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-1536x1086.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-1170x827.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-1920x1357.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years-585x414.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25105825\/Copy-of-Cashflow-for-last-5-years.png 2000w\" sizes=\"(max-width: 564px) 100vw, 564px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6029\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25111023\/Table-Format-Chola-300x134.png\" alt=\"Ratio Analysis of Cholamandalam Investment and Finance Company Limited NCD IPO\" width=\"882\" height=\"394\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25111023\/Table-Format-Chola-300x134.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25111023\/Table-Format-Chola-768x342.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25111023\/Table-Format-Chola-585x261.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2023\/04\/25111023\/Table-Format-Chola.png 900w\" sizes=\"(max-width: 882px) 100vw, 882px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Pros\"><\/span><strong>Pros\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The NCD is AA+ rated security with a stable outlook.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The coupon rate is between 8.25% to 8.40% which is much higher than FDs.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Cons\"><\/span><strong>Cons\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net NPA has been very close to the limit set by the authorities<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Liquidity\"><\/span><strong>Liquidity<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">With cash and liquid investments of Rs. 74.07 billion as of December 2022 and Rs. 27.07 billion in unused bank lines, CIFCL maintains a healthy level of on-balance sheet liquidity;<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h2><span class=\"ez-toc-section\" id=\"About_Cholamandalam_Investment_and_Finance_Company_Limited\"><\/span><b>About Cholamandalam Investment and Finance Company Limited;<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">CIFCL, founded in 1978, is the financial services arm of the Murugappa group, headquartered in Chennai. Vehicle finance (64%) and HE loans (21%) are the company&#8217;s two main business segments. Small and medium enterprise (SME) loans and housing loans make up the majority of the portfolio&#8217;s remaining loans. CIFCL has entered three new business sectors\u2014CSEL, SBPL, and SME\u2014within the consumer and SME ecosystem. It will be interesting to see how these areas perform and how they fit into the overall portfolio. As of 3QFY23, the Cholamandalam Finance Holdings Limited and Ambadi Investments Ltd group businesses held 45.4% and 4.1% of the Murugappa group&#8217;s 51.5% holding in CIFCL, respectively.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"As_on_December_2022\"><\/span><strong>As on December 2022<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A large network of 1,166 branches spread across 29 states.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The leverage (debt\/equity) stood at 6.6x in 3QFY23 (FY22: 5.9x; FY21: 6.7x).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CIFCL\u2019s profitability buffers (pre-provision operating profit buffers to credit costs) improved to 4.3x in 9MFY23 (FY22: 4.4x; FY21: 2.5x).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">GNPA stood at 5.4% in 9MFY23 (FY22: 6.8%, 9MFY22:8.5%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">NNPA stood at 3.51% in 3QFY23 (3QFY22: 5.85%; FY22: 4.37%)<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Well-diversified vehicle finance portfolio (3QFY23: 64.3% of assets under management (AUM), FY22: 68.8%; FY21: 72%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A significant player in the loan against property (LAP) segment (3QFY23: 20.9% of AUM) and has increased its focus on small ticket LAP loans<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Linkages with the Murugappa group, which, through its group entities, holds a 51.49% stake in CIFCL<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Given that CIFCL is a service-oriented company, its direct exposure to environmental hazards and severe physical climate concerns is minimal. Through their asset portfolio, lending institutions may be indirectly exposed to environmental concerns; 64% of CIFCL&#8217;s portfolio is allocated to financing vehicles.<\/span><\/li>\n<\/ul>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Disclaimer: Investments in debt securities are subject to risks. Read all the offer related documents carefully.\u00a0<\/span><\/p>\n<div id=\"footable_parent_7838\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <div class=\"pcrstb-wrap\"><table data-ninja_table_instance=\"ninja_table_instance_0\" data-footable_id=\"7838\" data-filter-delay=\"1000\" aria-label=\"IPO Table - Cholamandalam.csv\"            id=\"footable_7838\"\n           data-unique_identifier=\"ninja_table_unique_id_3510690696_7838\"\n           class=\" foo-table ninja_footable foo_table_7838 ninja_table_unique_id_3510690696_7838 ui table  nt_type_legacy_table selectable striped vertical_centered  footable-paging-right ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                            <col class=\"ninja_column_2 \">\n                            <col class=\"ninja_column_3 \">\n                            <col class=\"ninja_column_4 \">\n                            <col class=\"ninja_column_5 \">\n                            <col class=\"ninja_column_6 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                                                                                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_details \">Details <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_maximumyield \">Maximum yield<\/th><th scope=\"col\"  class=\"ninja_column_2 ninja_clmn_nm_overallissuesize \">Overall Issue Size\t<\/th><th scope=\"col\"  class=\"ninja_column_3 ninja_clmn_nm_creditrating \">Credit Rating<\/th><th scope=\"col\"  class=\"ninja_column_4 ninja_clmn_nm_startdate \">Start Date<\/th><th scope=\"col\"  class=\"ninja_column_5 ninja_clmn_nm_closingdate \">Closing Date<\/th><th scope=\"col\"  class=\"ninja_column_6 ninja_clmn_nm_formoredetails \">For more details<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"136\" class=\"ninja_table_row_0 nt_row_id_136\">\n            <td>Cholamandalam NCD IPO November 2023<\/td><td>8.60%<\/td><td>500 cr<\/td><td>IND AA+ Stable, ICRA AA+ Stable <\/td><td>November 28, 2023<\/td><td>December 11, 2023<\/td><td><a   class=\"nt_btn \" style=\"\" rel=\"\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-november-2023-should-you-invest\/\">More Details <\/a><\/td>        <\/tr>\n            <tr data-row_id=\"137\" class=\"ninja_table_row_1 nt_row_id_137\">\n            <td>Cholamandalam NCD IPO July 2023<\/td><td>8.25%<\/td><td>500 cr <\/td><td>IND AA+ Stable, ICRA AA+ Stable <\/td><td>July 28, 2023<\/td><td>August 10, 2023<\/td><td><a   class=\"nt_btn \" style=\"\" rel=\"\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-july-2023-should-you-invest\/\">More Details <\/a><\/td>        <\/tr>\n            <tr data-row_id=\"135\" class=\"ninja_table_row_2 nt_row_id_135\">\n            <td>Cholamandalam NCD IPO April 2023 <\/td><td>8.40%<\/td><td>500 cr<\/td><td>IND AA+ (Stable) \/ ICRA AA+ (Stable)<\/td><td>April 25, 2023<\/td><td>May 9, 2023<\/td><td><a   class=\"nt_btn \" style=\"\" rel=\"\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/\">More Details <\/a><\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table><\/div>\n    \n    \n    \n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0AA+\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Cholamandalam Investment and Finance Company Limited is issuing the 1st tranche of Non-Convertible Debentures. These&hellip;<\/p>\n","protected":false},"author":4,"featured_media":6028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-6021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED NCD IPO \u2013 April 2023, should you invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED NCD IPO \u2013 April 2023, should you invest?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/cholamandalam-investment-and-finance-company-limited-ncd-ipo-april-2023-should-you-invest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED NCD IPO \u2013 April 2023, should you invest? 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