Cholamandalam Investment and Finance Company Limited (CIFCL) is a Chennai based Indian non-banking financial company and investment service provider founded in 1978 under the Murugappa Group. History Cholamandalam Investment and Finance Company Limited (known as "Chola") is an Indian non-banking financial company incorporated in 1978.
In 2005, DBS Bank acquired a 37.5% stake in Cholamandalam Investment and Finance Company, with the Murugappa Group lowering its stake to 37.5%. The company was subsequently renamed as Cholamandalam DBS Finance. In 2010, DBS Bank sold its entire stake back to Murugappa Group and exited the joint venture.
In January 2020, Cholamandalam raised ₹400 crore through the issuance of 10-year subordinated Rupee-denominated Masala binds to the Uk's CDC Group.
Operations As of 2026, the company has 1,820 branches across 26 states and 7 Union Territories in India, SERVING 4.47 million customers. Backed by a workforce exceeding 71,000 employees and over 2.54 lakh crore in asset under management (AUM).
References