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Cholamandalam Investment and Finance Company

Cholamandalam Investment and Finance Company Limited (CIFCL) is an Indian non-banking financial company and investment service provider, headquartered in Chennai. Established in 1978, it is a part of the Murugappa Group.

As of 2024, the company has 1,387 branches across the country and more than 54,000 employees, with the majority being in smaller towns.

History

In 2005, DBS Bank acquired a 37.5% stake in Cholamandalam Investment and Finance Company, with the Murugappa Group lowering its stake to 37.5%. The company was subsequently renamed as Cholamandalam DBS Finance. In 2010, DBS Bank sold its entire stake back to Murugappa Group and exited the joint venture.

References