
IFC among new stakeholders in Cholamandalam Investment and Finance
Cholamandalam Investment and Finance Company has diluted a 15% in itself to investors including IFC, Amansa Investment, Acquarius Investment, Reliance Capital and India Capital Fund as part of its effort to raise INR250 crore ($56.56 million) for business expansion, India’s Business Standard reported.
Speaking to the newspaper, Cholamandalam's Managing Director Vellayan Subbiah said that, of its 15% divestment, 10% of the company has been purchased by IFC, which committed INR115 crore, and INR135 crore...
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