Creditaccess Grameen to raise Rs 11.3bn via IPO

Creditaccess Grameen Ltd.

Creditaccess Grameen is Bengaluru based micro-finance institution focused on micro loans in rural areas predominantly to women customers.

According to CRISIL Research, Company is the third largest NBFC-MFI in India in terms of Gross Loan Portfolio as of FY17.

Company covers 132 districts in the eight states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala and Goa) and one Union territory (Puducherry) in India through 516 branches and 4,544 loan offices.

Customers base increased from 0.5mn in FY14 to 1.85mn in FY18 and customer retention ratio is 90% (FY17)

Gross AUM as on FY18 at Rs49.75bn as against Rs30.75bn in FY17.

Management:

• Udaya Kumar Hebbar, MD & CEO

• BR Diwakar, CFO

IPO Snapshot: 

Dates: 8-Aug-2018 to 10-Aug-2018

Face Value: Rs10/share

Price Band: Rs 418 - Rs 422/share

Discount: NIL

Bid lot: 35 shares and multiples

Mode of Payment: ASBA (Mandatory)

Listing: NSE & BSE

Issue Size: Rs113,119mn

QIB: 50% of the issue

NIB: 15% of the issue

Retail: 35% of the issue

Lead Manager: ICICI Securities, Credit Suisse Securities, IIFL Holdings & Kotak Mahindra Capital

Registrar: Karvy Computershare Pvt. Ltd.

Allotment Status Check: http://karisma.karvy.com