Chola to raise Rs 5,000 crore through QIP

Chennai: NBFC Cholamandalam Investment and Finance Company (Chola), the financial services arm of Murugappa Group, will raise Rs 5,000 crore through Qualified Institutions Placement (QIP).Its board gave the nod for fundraise, the company said in a regulatory filing on Wednesday. The board approved the issue of equity shares and/or eligible securities convertible into equity shares by way of a QIP for an aggregate amount not exceeding Rs 5,000 crore in one or more tranches, it said.Meanwhile, Chola posted a 41% growth in profit after (PAT) at Rs 1,630 crore for the quarter ended Sept 30, 2026, against Rs 1,155 crore in the same quarter last year. The aggregate disbursements in Q2 FY27 was at Rs 35,872 crore, which rose by 47% YoY over Rs 24,442 crore during the year ago quarter. The disbursement in the gold loans portfolio was at Rs 1,960 crore in Q2 FY27 with Assets under Management (AUM) under the category at Rs 3,446 crore as of Sept 30, 2026. The gold loans portfolio continued to scale steadily, the company said in a statement.You use AI every day. Now get your AI Quotient. Take the AIQ test.