CHOLAFIN

In 1978, it was being promoted by the Murugappa Group was also incorporated on 17th August at Chennai as a Public Limited Company. It also used to lead with Hire purchase and leasing services for acquiring computers, industrial equipment, and consumer durables. In 1991, it also expanded its product range by introducing automobile finance under its Credit Cars Scheme. Also, the subsidiary Companies Cholamandalam Software Ltd. was being amalgamated with the Cholamandalam Factoring Ltd. and Cholamandalam Lease and Hire Purchase Ltd. and Cholamandalam Housing Finance Ltd. discontinued from being the subsidiaries of the Company. Soon, it also augmented its product range by introducing Gold Nest-Child Education Fixed Deposit Scheme and made an issue of the Commercial Paper to the extent of INR 12 crores that were being rated by CRISIL as P1+, which is the highest rating for the issue of Commercial Paper. It also set up a Merchant Banking Division during the year under review that is expected to contribute vitally to the product range and profits for the future. In 1996, it signed an MOU with Guardia Royal Exchange Insurance Group, the U.K. for risk Management services. Also, the subsidiaries of the company are Cholamadalam Factoring Ltd., Cholamandalam Securities Ltd. & Cholamandalam Hazard Management Ltd. CHML or Cholamandalam Hazard Management Limited is a Joint Venture with M/s. Hazard Management Limited of the U.K. that started its operations to provide advisory services in the industrial risk management sector. In 1997, it entered into a joint venture with Cazenove Fund Management Limited of the U.K., Cholamandalam Cazenove AMC Limited began its first mutual fund scheme in February. Also, it has signed a Memorandum of Understanding with the Guardian Royal Exchange Insurance Group, for risk management services. Also, the maiden mutual fund was being introduced. In 1999, it also joined hands with the world's largest insurance company, the 5bn (or assets under management) Axa, S.A.-France, for entering the non-life insurance business in India. In 2000, NAIL or New Ambadi Investments Pvt Ltd also acquired 35,29,959 (or 14.9%) equity shares of the company, and now, its present holding stands at 29,45,113 (or 17.32%). Cholamandalam Distribution Services Ltd. became a wholly-owned subsidiary of the company and effective since September 28 subscribing to a private placement of 15, 00,000. Also, it signed an MoU with HDFC Standard Life Insurance for distributing the latter's products. It also approved an issue of 35, 00,000 cumulative redeemable preference shares of INR 100/- each aggregating to INR 350 million for cash at par on a private placement basis to persons being banks/ bodies/institutions/corporate/mutual funds/ individuals and several other agencies, whether incorporated or not. In 2003, there was an increase in Authorised Capital from INR 700 million to INR 1600 million. Also, the global distribution system provider, Amadeus, tied up with Cholamandalam Finance for offering online travel insurance solutions. The Board approves the issue of 1,26,49,517 Equity Shares of the company of INR 10/- each at a premium of INR 45/- in the ratio of 1 equity share and for every two equity shares held to the existing equity shareholders of the company on a rights basis. It also invoked INR 150-m placing short term bonds. CARSL or Cholamandalam AXA Risk Services Ltd also became a subsidiary of the Company with effect from August 27, 2004. Some of the Milestones:

• 2006:
• Also, the company name was changed from Cholamandalam Investment & Finance Company Ltd. to Cholamandalam DBS Finance Ltd.
• 2010:
• Soon after, the company name was being changed from M/s. Cholamandalam DBS Finance Ltd to M/s. Cholamandalam Investment and Finance Company Ltd.
• It also acquired 347379 equity shares in the M/s. Cholamandalam Factoring Ltd.
• 2012:
• N Srinivasan, Director was appointed as the Vice-Chairman of the Company.
• 2013:
• It organized Sacha Saathi in Auto Nagar.
• 2014:
• Apax Partners acquired about 8% Stake in Cholamandalam Investment.
• 2015:
• The businesses to reduce costs, grow business agility, and delivered an Integrated Customer Experience, as on March 10, 2015.
• 2016:
• The Company expanded its footprints in Karnataka by opening four new branches.
• 2017:
• Also, it teamed up with Mavin for the digital push.
• It also signed an Agreement with JCB.