Shadow Lender Cholamandalam to Sell Largest India Perpetual Bonds by a Non-Bank

Cholamandalam Investment and Finance Co., one of India’s biggest shadow lenders, plans to raise as much as 20 billion rupees ($209 million) through the issuance of perpetual bonds, according to people familiar with the matter, the largest such debt sale by a private financier in the country.

By Divya Patil