Last Updated : Aug 01, 2018 04:45 PM IST | Source:

CreditAccess Grameen's Rs 1,131-cr IPO to open on August 8, price band at Rs 418-422

Moneycontrol News @moneycontrolcom

CreditAccess Grameen, a leading micro-finance institution headquartered in Bangalore, will open its initial public offer for subscription on August 8 with a price band at Rs 418-422 per share.

The public issue comprises a fresh issue of up to Rs 630 crore and an offer for sale of up to 1,18,76,485 equity shares by the promoter, CreditAccess Asia N V.

The offer will close on August 10. Bids can be made for a minimum lot of 35 equity shares and in multiples of 35 equity shares thereafter.

CreditAccess Grameen focused on providing micro-loans to women customers predominantly in Rural Areas in India.

According to CRISIL Research, it was the third largest NBFC-MFI in India in terms of gross loan portfolio as of March 2017. As of March 2018, it covered 132 districts in the eight states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa) and one union territory (Puducherry) in India through 516 branches and 4,544 loan officers.

Its promoter CreditAccess Asia N V is a multinational company specialising in MSE financing (micro and small enterprise financing), which is backed by institutional investors and has micro-lending experience through its subsidiaries in four countries in Asia.

Equity shares are proposed to be listed on BSE and NSE. ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital Company are book running lead managers to the issue.
First Published on Aug 1, 2018 04:45 pm
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