Cholamandalam Investment and Finance Company said that the nomination and remuneration committee has approved an allotment of 49,191 equity shares of Rs 10 each to the option grantees who have exercised their options.

The stock had underperformed the market over the past one month till Jul. 08, 2014, falling 10.35% compared with the Sensex's 0.73% rise. It underperformed the market in past one quarter, declining 6.78% as against 14.49% rise in the Sensex.

Shares of the company declined Rs 20.25, or 4.69%, to settle at Rs 411.95 at the BSE (Wednesday).