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Tuesday, Sep 28, 2004

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Chola Finance plans to raise Rs 200 crore

Our Bureau

Chennai , Sept. 27

CHOLAMANDALAM Investment and Finance Company Ltd proposes to raise Rs 200 crore through an issue of non-convertible debentures. ICRA has assigned a rating of `MAAA+' (indicating high safety).

Cholamandalam's Managing Director, Mr M. Anandan, told Business Line today that the move was part of the ongoing fund raising efforts. He said that the NCDs could carry an interest rate of around 6 per cent.

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