Business description – CreditAccess Grameen is a leading micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India.
CreditAccess Grameen IPO: Here’s All You Need To Know
According to CRISIL Research, it was the third largest NBFC-MFI in India in terms of gross loan portfolio as of March 31, 2017. Its range of lending products addresses the critical needs of customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.
The company focuses predominantly on customers in rural areas in India, who largely lack access to the formal banking sector and present a latent opportunity for offering micro-loans.
Its products are built on a deep understanding of the requirements of its customers and the flexibility of its products (in terms of ticket sizes, end-uses and repayment options). Its focus customer segment is women having an annual household income of INR160,000 or less in Urban Areas and INR100,000 or less in Rural Areas. It provides loans primarily under the joint liability group (JLG) model.
The company’s primary focus is to provide income generation loans to its customers, which comprised 86.81% of its total JLG loan portfolio, as of September 30, 2017. CreditAccess Grameen also provides other categories of loans such as family welfare loans, home improvement loans and emergency loans to existing customers. In 2016, it introduced individual retail finance loans for customers who had been its customers for at least three years and fulfil certain other eligibility criteria linked primarily to their credit history, income and business position.
Promoters of CreditAccess Grameen – CreditAccess Asia NV
|CreditAccess Grameen IPO details|
|Subscription Dates||8 – 10 August 2018|
|Price Band||INR418 – 422 per share|
|Fresh issue||INR630 crore|
|Offer For Sale||11,876,485 shares (INR496.44 – 501.19 crore)|
|Total IPO size||INR1,126.44 – 1,131.19 crore|
|Minimum bid (lot size)||35 shares|
|Face Value||INR10 per share|
|Listing On||NSE, BSE|
Objects of the issue
- Augmenting its capital base
|CreditAccess Grameen’s financial performance (in INR crore)|
|Profit after tax||7.9||16.6||48.7||83.2||80.3||124.6|
|Net margin (%)||8.9||11.2||17.3||17.8||11.3||14.2|
More about CreditAccess Grameen
CreditAccess Grameen Contact Details
CreditAccess Grameen Limited
49 (Old No. 725)
46th Cross, 8th Block, Jayanagar
Bangalore 560 071
Phone: +91 80 2263 7300
Fax: +91 80 2664 3433
Registrar of CreditAccess Grameen IPO
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Valuation of CreditAccess Gramin (FY2018)
Earnings Per Share (EPS): INR12.11
Price/Earnings (P/E) ratio: 34.51 – 34.84
Return on Net Worth (RONW): 8.73%
Net Asset Value (NAV): INR111.12 per share
CreditAccess Grameen IPO Subscription Details
|Category||Shares offered||Subscription (no.|
of times, at 7pm)
|Day 1||Day 2||Day 3|
CreditAccess Grameen IPO Allotment Status
CreditAccess Grameen IPO allotment status is now available on Karvy Computershare’s website.
Click on this linkto get allotment status.
Listing Performance of CreditAccess Grameen
IPO Opening Date: 8 August 2018
IPO Closing Date: 10 August 2018
Finalisation of Basis of Allotment: 16 August 2018
Initiation of refunds: 20 August 2018
Transfer of shares to demat accounts: 21 August 2018
Listing Date: 23 August 2018
Listing Price on BSE: INR385 per share (down 8.76% from IPO price)
Closing Price on NSE: INR422.05 per share (up 0.01% from IPO price)