Cholamandalam Investment and Finance Company Limited (BSE:511243) announced a private placement of common shares of face value INR 2 each for gross proceeds of not exceeding INR 3,000,000,000 on January 23, 2020. The transaction will include participation from returning investor Cholamandalam Financial Holdings Limited (BSE:504973). The company will issue the securities on a preferential basis.

The company will issue the shares in multiple tranches. The transaction has been approved by the board of directors of the company. The transaction is subject to the approval of the shareholders of the company.