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CreditAccess Grameen Limited is a leading Indian micro-finance institution headquartered in Bengaluru. According to MFIN India, The company was the largest NBFC- MFI in India in terms of the gross loan portfolio as of March 2022.
The company's customer-centric business model, a wide range of product offerings, as well as well-designed product delivery and collection systems, have enabled the company to achieve high customer retention rates and low credit costs.
The company focus 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.
As of September 30, 2022, the company have a presence in 333 districts in 14 states (Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Kerala, Odisha, Chhattisgarh, Goa, Bihar, Jharkhand, Gujarat, Rajasthan, Uttar Pradesh and West Bengal) and one union territory (Puducherry) in India through 1,684 branches and 16,018 employees, serving active consolidated customer base 132 of 38.0 lakhs, as of September 30, 2022.
| Issue Open | November 14, 2022 - November 17, 2022 |
| Security Name | CreditAccess Grameen Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 250.00 Crores |
| Issue Size (Shelf) | Rs 1,500.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | IND AA-/Stable by India Ratings & Research Private Limited |
| Tenor | 24, 36 and 60 months |
| Series | Series I to VI |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Catalyst Trusteeship Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 25% |
| Non-Institutional | 35% |
| HNI | 15% |
| Retail | 25% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 625,000 |
| Non-Institutional | 875,000 |
| HNI | 375,000 |
| Retail | 625,000 |
| Total NCD's | 2,500,000 |
Coupon Rates
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |||
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | ||
| Nature | Secured | |||||||
| Tenor | 24 months | 24 months | 36 months | 36 months | 60 months | 60 months | ||
| Coupon Rate (Retail) | 9.45% | NA | 9.60% | NA | 10.00% | NA | ||
| Effective Yield (% per Annum) | 9.83% | 9.83% | 10.02% | 10.02% | 10.46% | 10.46% | ||
| Amount on Maturity | Rs 1,000 | Rs 1,206.57 | Rs 1,000 | Rs 1,332.07 | Rs 1,000 | Rs 1,644.91 | ||
The NCDs proposed to be issued under this Tranche I Issue have been rated IND AA-/Stable for an amount of Rs. 1500 Crores by India Ratings & Research Private Limited.
The company's promoter is CreditAccess India N.V.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 12590.21 | 1705.48 | 335.49 | 2720.34 |
| 31-Mar-21 | 15060.23 | 2466.07 | 131.4 | 3645.54 |
| 31-Mar-22 | 17394.75 | 2750.13 | 357.1 | 4017.53 |
| Amount in ₹ Crore | ||||
The following are the details of the objects of the Tranche I Issue and the amount proposed to be financed from Net Proceeds:
The CreditAccess Grameen NCD 2022 was subscribed 3.02 times on November 17, 2022 5:00:00 PM. The NCD subscribed 3.15 times in Retail, 2.69 times in HNI, 2.02 times in Non-Institutional, and 4.48 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 3.15x |
| HNI | 2.69x |
| Non-Institutional | 2.02x |
| Institutional | 4.48x |
| Total | 3.02x |
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CreditAccess Grameen Limited
New No. 49 (Old No. 725), 46th Cross, 8th Block,
Jayanagar, Rajalakshmi Kalyana Mantap
Bengaluru 560 071, Karnataka
Phone: +91 80 2263 7300
Email: csinvestors@cagrameen.in
Website: https://www.creditaccessgrameen.in/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: cagl.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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