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NCD Status: Closed [24th Aug 2023 to 1st Sep 2023]
Creditaccess Grameen Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 1000.00 Cr and Shelf issue size of worth Rs 1500.00 Cr. The subscription is opening from 24 Aug 2023 to 06 Sep 2023. The company issues series I to VIII at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs 1000. The NCD tenor is 24, 33 and 60 months with a coupon rate ranging from 9.10% to 10.13% per annum.
Check more about the Creditaccess Grameen Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 24th Aug 2023 |
| NCD Closing Date: | 1st Sep 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹1000.00Cr |
| Issue Size (Shelf): | ₹1500.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE, NSE |
| Tenor: | 24, 33 and 60 months |
| Rating: | IND AA-/Stable |
| Series: | Series I to VIII |
| Payment Frequency: | Monthly and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 24th Aug 2023 |
| NCD Issue Close | 1st Sep 2023 |
| BSE Code: | 3121 |
| BSE Script Symbol: | CAGL02 |
| NSE Code: | CAGL02 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 1000000 | 25% |
| Non-Institutional | 1200000 | 30% |
| HNI | 800000 | 20% |
| Retail | 1000000 | 25% |
CreditAccess Grameen Limited was incorporated in Kolkata on June 12, 1991 as Sanni Collection Private Limited and is a leading Indian microfinance institution headquartered in Bengaluru that focuses on providing microcredit on a joint liability basis primarily to women clients in rural India. According to MFIN India, it is the largest NBFC-MFI in India in terms of gross loan portfolio.
The company offers a wide range of microloans to meet the critical needs of its clients throughout their life cycle, including income generation, healthcare, emergencies, education, festivities, home improvement, water and sanitation. The company also offers its clients solutions other than loans, such as insurance and Aadhar-backed cash withdrawals.
They offer microfinance loans mainly under the "joint liability" “model. The company also offers individual personal loans to clients who meet certain criteria, mainly related to their credit history, income, and business situation. They offer business loans (to expand an existing business, meet working capital needs, start a new business, or purchase inventory or machinery), loans for new two-wheelers, loans for home renovations, and loans for gold. They also offer larger business loans to clients who have demonstrated a high entrepreneurial capacity, in their capacity as individuals against collateral (residential or commercial real estate).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 15,155.12 | 17,481.95 | 21,858.10 |
| Revenue | 2,466.07 | 2,750.13 | 3,550.79 |
| Profit After Tax | 131.40 | 353.07 | 826.06 |
| Net Worth | |||
| Reserves and Surplus | |||
| Total Borrowing |
The following are the details of the objects of the Tranche II Issue and the amount proposed to be financed from Net Proceeds:
CreditAccess Grameen Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 33 Months | 33 Months | 50 Months | 50 Months | 60 Months | 60 Months |
| Coupon (% per Annum) | 9.10% | NA | 9.25% | NA | 9.40% | NA | 9.70% | NA |
| Effective Yield (% per Annum) | 9.48% | 9.48% | 9.64% | 9.64% | 9.81% | 9.81% | 10.13% | 10.13% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,198.82 | Rs 1,000.00 | Rs 1,288.12 | Rs 1,000.00 | Rs 1,477.11 | Rs 1,000.00 | Rs 1,621.19 |
The company's promoter is CreditAccess India N.V.
The NCDs proposed to be issued under the Issue have been rated IND AA-/Stable for an amount of Rs 1500 Crores by India Ratings & Research Private Limited.
Last Updated on 2023-09-04T06:33:01+00:00
