Chola picks four banks for $56-m share sale
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Cholamandalam Investment and Finance has picked four banks, including Citigroup, for a share sale to institutional investors to raise up to $56 million, two sources with direct knowledge of the matter said.
The Chennai-based NBFC plans to launch the share sale within a few weeks, depending on market conditions, said the sources, who declined to be named as they were not authorised to speak to the media. JM Financial Services, Kotak Mahindra Capital, a division of Kotak Mahindra Bank, and Axis Capital, a unit of Axis Bank are the brokers handling the transaction, the sources said. Officials at Cholamandalam, JM Financial, Kotak, Axis and Citi were not available for comment.
In December, Cholamandalam said its board had approved raising up to $55.87 million in capital through private placements.
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow