Non-banking finance company Cholamandalam Investment and Finance Company Ltd on Tuesday said that it's Nomination & Remuneration Committee has approved the allotment of 40,286 equity shares to those option grantees who have exercised their options.
These equity shares are having face value of Rs 10 each.
In a filing to the Bombay Stock Exchange, the company informed, "The Nomination & Remuneration Committee has approved an allotment of 40,286 equity shares of Rs 10 each to the option grantees who have exercised their options."
The company provides various financial services in India. It offers loans for the purchase of new and used commercial vehicles, tractors, construction equipment, cars, MUVs, etc., secured long term loans against properties, business loans for small and medium enterprises, corporate mortgage loans etc.
Meanwhile, shares of the company were trading at Rs 607.15 apiece, up 0.42 per cent, from previous close on BSE at 11:57 hours.