Cholamandalam DBS said its founders including EID Parry, Coromandel Fertiliser Ltd and DBS Bank would subscribe to 10 million convertible shares, to raise Rs 300 crore.
The preference shares will be issued at Rs 100 each at a premium of Rs 200 and shall be convertible into equity within 18 months, the financial services firm said in a statement to the stock exchange.
The firm had said on Oct 24 it will raise an additional Rs 50 lakh.
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