Cholamandalam Investment & Finance Co. Ltd. is the financial services arm of Murugappa Group., which commenced its operations in 1978, initially concentrating on asset finance through leasing and hire purchase to corporate and then to retail customers. The company has a base of over 100000 investors and over 500 corporate clients plus a large and growing number of vehicle finance customers.
ICRA has given it the highest rating MAAA. The company is into vehicle finance (Cholamandalam Vehicle Finance), mutual funds (Cholamandalam Mutual Fund), stock broking (Cholamandalam Securities) and financial advisory (Cholamandalam Distribution).
The Murugappa Group has an astounding range of operations - Abrasives, Building, Materials, Engineering, Farm Inputs, Food Processing, Financial Services, Marketing Services, Plantations and Sugar, Bio-products & Chemicals. Some of the flagship companies of the Murugappa Group are Tube Investments of India (BSA, Hercules), TI Diamond Chain (Rombo Chain), EID Parry(Parryware), Parrys Confectionery , Parry Agro, Coromandel Fertilizers, Carborundum Universal, Wendt India and Cholamandalam Investment and Finance company, TI Cycles (BSA, Hercules).
Cholamandalam General Insurance Company Limited
Cholamandalam General Insurance Company Limited is promoted by Chennai based Murugappa Group. The company is capitalised at Rs.105 crore with 75% being held by Tube investment, a Murugappa group company. While Cholamandalam Investment and Finance Company Ltd holds 15 per cent equity, the rest is held by other privately held Murugappa companies with 5 per cent stake each. The company is planning to garner a premium income of Rs.100 crore in the first year of its operation, and expects to break even by the fourth year of its operation with a premium income of Rs.500 crore. The general insurer plans to be in 30 cities in 18 months and would offer its customers about 50 products.
Contact Address
Cholamandalam General Insurance Company Limited,
TIAM House. V Floor, 72, Rajai Salai,
Chennai - 600 001.
Ph: 044-716 6000
URL: www.cholainsurance.com
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