Cholamandalam seeks to diversify liability profile with debut retail bond sale

Cholamandalam Investment and Finance will diversify its liability base and utilise foreign currencies for funding as it looks to expand beyond its traditional vehicle financing portfolio. The company launched retail non-convertible debentures on 10 March 2021 and will gradually increase retail deposits in its liability profile over the next few years. The diversification in liabilities is complimentary to its plan to expand its loan portfolio. The NCD issue has a base issue size of INR5bn ($68.9m) and will open on 16 March.