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History of Cholamandalam DBS Finance Ltd.

YEAR EVENTS 1978 - The Comp. promoted by Murugappa Group was incorporated on 17th August at Chennai as a Public Limited Company. The Company leads with Hire purchase & leasing services for acquiring industrial equipments, computers & consumer durables.

1980 - 1,00,000 shares taken up by promoters, directors, etc. 1,50,000 shares offered at par to the public in February 1980.

1982 - 2,49,300 Rights shares allotted at par [prop. 1:1s].

1985 - 4,99,300 Rights shares issued at par in prop. 1:1.

1986 - The Comp. offered 6,00,000 Rights equity shares of Rs 10 each linked to 4,00,000 - 15% secured redeemable non-convertible debentures of Rs 100 each in the proportion 30 equity shares and 20 debentures: 50 equity shares held. The debentures are redeemable at a premium of Rs 5 per debenture on the seventh year from the date of allotment of debentures.

1990 - 8,00,000 bonus shares issued in prop. 1:2. 16,00,000 Rights equity shares issued to holders prior to bonus issue [prem. Rs 3 per share; prop. 1:1s]. Additional 2,32,035 shares allotted to retain oversubscription. Another 8,00,000 shares offered [prem. Rs 3 per shares] to employees [only 15,400 shares taken ups].

1991 - The Comp. augmented its product range by introducing automobile finance under its Credit Cars Scheme.

- 265 No. of equity shares allotted [prem. Rs 3 per shares].

1992 - The subsidiary Companies Cholamandalam Software limited was amalgamated with Cholamandalam Factoring limited & Cholamandalam Housing Finance limited & Cholamandalam Lease & Hire Purchase limited ceased to be the subsidiaries of Company.

1993 - During February-March, the Comp. offered 42,47,700 No. of Rights equity shares of Rs 10 each for cash at a premium of Rs 20 per share in the proportion 1:1 [all were taken ups].

- Another 2,12,385 No. of equity shares of Rs 10 each were offered at a premium of Rs 20 per share to the employees' on an equitable basis [only 4,400 shares taken ups].

- The Comp. has augmented its product range by introducing 'Gold Nest-Child Education Fixed Deposit Scheme'.

1994 - The Comp. made an issue of Commercial Paper to the extent of Rs.12 crores which was rated by CRISIL as P1+, the highest rating for issue of Commercial Paper.

- The Comp. has already set up a Merchant Banking Division during the year under review which is expected to contribute significantly to the product range & profits for future.

- The Comp. undertook to diversify into related financial services like Mutual Funds, securities trading & risk management through subsidiaries/joint venture companies.

1995 - During January, the Comp. offered 42,49,900 No. of equity shares of Rs 10 each at a premium of Rs 45 per share in the proportion 1:2 [all were taken ups].

- The Comp. also issued through prospectus 42,49,900 No. of equity shares of Rs 10 each at a premium of Rs 90 per share of which 8,49,900 shares & 8,49,900 shares to banks & financial institutions. Of the balance, 8,49,900 shares were reserved for allotment on a preferential basis to NRIs [all were taken ups]. Remaining 17,00,200 shares were issued to the public [all were taken ups].

1996 - The Comp. signed a MOU with Guardia Royal Exchange Insurance Group, U.K. for risk management services.

- Cholamadalam Factoring Ltd., Cholamandalam Securities limited & Cholamandalam Hazard Management limited are subsidiaries of the Company.

- Cholamandalam Hazard Management Limited [CHMLs], a Joint Venture with M/s. Hazard Management Limited of U.K., has commenced operations to provide advisory services in the area of industrial risk management.

1997 - The Company Joint Venture with Cazenove Fund Management Limited of U.K., Cholamandalam Cazenove AMC Limited launched its maiden mutual fund scheme in February.

- The Comp. has signed a Memorandum of Understanding with Guardian Royal Exchange Insurance Group. U.K. for risk management services.

- The maiden mutual fund was launched.

1998 - The Company, the financial services arm of Rs.2,600 crore Murugappa group & the UK-based Guardian Royal Exchange plc have signed up a joint venture agreement to undertake risk management consultancy.

- The Company, part of Murugappa group has opted for a dual rating, & has obtained the best rating from ICRA.

1999 - The Comp. has joined hands with the world largest insurance company, the $655bn [assets under managements] Axa S.A.-France, to enter the non-life insurance business in India.

- Cholamandalam is also in talks with Axa to forge an agreement where the premium incomes received by both insurance ventures will be managed by its 51:49 joint venture Cholamandalam Cazenove AMC Ltd.

2000 - New Ambadi Investments Pvt Ltd [NAILs] has acquired 35,29,959 [14.9 per cents] equity shares of Comp. & consequently its present holding stands at 29,45,113 [17.32 per cents].

- ICRA has assigned an MAAA rating to the Rs. 50 crore medium term debenture programme of company.

- Cholamandalam Distribution Services limited has become a wholly owned subsidiary of Comp. effective September 28 subscribing a private placement of 15,00,000 No. of equity shares of Rs 10 each at par of CDSL.

- Cholamandalam Distribution Services a subsidiary of Cholamandalam Investment & Finance Company, has signed a MoU with HDFC Standard Life Insurance for distributing latter products. 2002

- Cholamandalam Investment and Finance Comp. Ltd has informed that the Board of Directors of Comp. approved the changes in the Board: [1s] Appointment of Mr A Vellayan as an Additional Director of Company. He will be a non-executive Director on the Board.[2s] Appointment of Mr Partho S Datta Director as a Wholetime Director of Comp. w e f April 01, 2002.

-Cholamandalam Investment and Finance Comp. Ltd has informed BSE that the Board has issued secured redeemable non-convertible debentures & short term redeemable non convertible debentures up to an amount of Rs 2000 million each on private placement basis to mutual funds/institutions/banks/bodies corporate/individuals or other agencies.

-Cholamandalam Investment and Finance Comp. Ltd has approved an issue of 35,00,000 cumulative redeemable preference shares of Rs 100/- each aggregating to Rs 350 million for cash at par on a private placement basis to persons being institutions/banks/bodies coporate/mutual funds/individuals & other agencies, whether incorporated or not.

2003 - De-listing of company equity shares from the Coimbatore Stock Exchange Ltd, subject to the approval of shareholders of company.

-Increase in Authorised Capital from Rs 700 million to Rs 1600 million .

-The BoD of Comp. at its meeting held today [December 8, 2003s] has approved the issue of 1,26,49,517 Equity Shares of Comp. of Rs 10/- each at a premium of Rs 45/- in the ratio of 1 equity share for every 2 equity shares held to the existing equity shareholders of Comp. on a rights basis.

-Board approves issue of NCD

-inks securitisation pact with HDFC

-raises Rs 100 cr through debentures issue

- International Finance Corporation [IFCs], Washington extends Rs 100-crore credit line to the company

- The global distribution system provider, Amadeus, has tied up with Cholamandalam Finance to offer online travel insurance solutions

-Board approves the issue of 1,26,49,517 Equity Shares of Comp. of Rs 10/- each at a premium of Rs 45/- in the ratio of 1 equity share for every 2 equity shares held to the existing equity shareholders of Comp. on a rights basis

- invokes Rs 150-m placing short term bonds

-Board approves delisting of its shares from Coimbatore Stock Exchange

2004

-Cholamandalam Investment and Finance Ltd has informed that the equity shares of Comp. has been delisted from Coimbatore Stock Exchange wef March 31, 2004.

- Cholamandalam AXA Risk Services Ltd [CARSLs] has become a subsidiary of Comp. with effect from August 27, 2004

2005

-The Acquirer is making an Open Offer to the public shareholders of Cholamandalam Investment and Finance Comp. Ltd ['Target Company's] to acquire upto 8,189,295 shares, representing in aggregate 20% of issue & fully paid-up equity share capital of Target Comp. assuming that the maximum number of new shares pursuant to the Preferential issue were allotted, at a price of Rs 150 per share ['Offer Price's] payable in cash subject to terms and condition.

2007

-The Comp. has issued rights in the ratio of 3:8 at a premium of Rs. 130/-Per Share.