Cholamandalam Investment and Finance Co. , one of India’s biggest shadow lenders, plans to raise as much as 20 billion rupees ($209 million) through the issuance of perpetual bonds, according to people familiar with the matter, the largest such debt sale by a private financier in the country.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-08-25/shadow-lender-cholamandalam-to-sell-largest-india-perpetual-bonds-by-a-non-bank)