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Cholamandalam DBS to issue shares to IFC

CHENNAI: Cholamandalam DBS Finance, a non-banking finance company belonging to the Murugappa Group,

is planning to issue fresh equity shares aggregating Rs. 100 crore to IFC, a member of the World Bank Group. The issue is proposed to be made by way of a preferential allotment of 108.93 lakh equity shares of Rs. 10 each

at a price of Rs. 92 per share. This proposal is subject

to the approval of the board of IFC, shareholders of

Chola DBS and relevant regulatory authorities.

— Special Correspondent

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