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CreditAccess Grameen Limited IPO (CreditAccess Grameen IPO) Detail

Aug 8, 2018 - Aug 10, 2018

Incorporated in 1991, Bengaluru based CreditAccess Grameen Limited is a company engaged in providing micro-loans to women in Rural Areas in India. According to CRISIL Research,as of March 31, 2017, the company is third largest NBFC-MFI in gross loan portfolio in the country.

The company primarily focuses on providing income generating loans to women with low annual household income in Rural Areas. It also provides other types of loans for family welfare, home improvement and emergency funds.

The loans are provided primarily under the joint liability group ("JLG") model. Income generation loans comprise 87.02% the total JLG loan portfolio.

Presently the company covers 132 districts in the eight states (Chhattisgarh, Goa, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Odisha, Tamil Nadu,) and Puducherry. It has a network of 516 branches and 4,544 loan officers.

The Gross AUM was ₹49,746.61 million as of March 31, 2018.

The loan disbursements were ₹33,488.46 million, ₹34,026.29 million and ₹60,817.22 million, the financial years ended March 31, 2016, 2017 and 2018 respectively.

The net interest income was ₹2,487.04 million, ₹3,852.04 million and ₹5,109.85 million for the fiscal years ended March 31, 2016, 2017 and 2018 respectively.

Strengths of the Company-

1. Promoted by CreditAccess Asia N.V., a multinational company specializing in MSE financing.
2. Strong financial performance with Gross AUM growth at a CAGR of 57.45% from Rs 8,095.22 million in March 31, 2014 to Rs 49,746.61
million in March 31, 2018.
3. Deep penetration in the rural market with 1.85 million active Customers out of the total Customer base of 2.19 million. The company's 422 out of 516 branches are categorized as rural branches.
4. Well-diversified operations with no single district contributing more than 5% of Gross AUM
5. Strong operational efficiency with the lowest operating expense ratio amongst the top-eight NBFC-MFIs and SFBs for 2017, according to CRISIL

Company Promoters:

The promoter of the company is CreditAccess Asia N.V. ("CAA"). It holds 126,985,513 Equity Shares, equivalent to 98.88% of the pre-Offer issued, subscribed and paid-up equity share capital and will continue to hold a majority of the post-Offer paid-up Equity Share capital of the Company.

Netherlands based CAA is a company engaged in providing financial services to micro, small businesses, and self-employed people. CAA has investments in microfinance institutions in several emerging countries including India, Vietnam, Indonesia and the Philippines.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Millions)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 52,183.48 35,640.72 28,079.76 17,268.09 10,580.80
Total Revenue 8,752.05 7,092.61 4,667.19 2,814.28 1,478.29
Profit After Tax 1,246.41 802.98 832.41 487.32 166.26

Objects of the Issue:

The Offer comprises of the Fresh Issue and the Offer for Sale.
The Company will not receive any proceeds from the
Offer for Sale.
The net Proceeds from the Fresh Issue will be utilized towards augmenting the capital base to meet future
capital requirements of the company which are
expected to arise out of growth in the Company's assets, primarily the Company's loans and advances and other investments.

Issue Detail:

  »»  Issue Open: Aug 8, 2018 - Aug 10, 2018
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 26,805,394 Equity Shares of Rs 10 aggregating up to Rs 1,131.19 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 418 - Rs 422 Per Equity Share
  »»  Market Lot: 35 Shares
  »»  Minimum Order Quantity: 35 Shares
  »»  Listing At: BSE, NSE

CreditAccess Grameen IPO Reviews / Recommendations:

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SMC Global - Subscribe

 

CreditAccess Grameen IPO Subscription Status / Live Bidding Status

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CreditAccess Grameen IPO Prospectus

CreditAccess Grameen IPO Rating

931
3.9
Rating:Rated 3.9 stars

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CreditAccess Grameen IPO News Alerts

  1. Friday, August 17, 2018 12:00:00 AM
    CreditAccess Grameen IPO Allotment Status
  2. Friday, August 10, 2018 12:00:00 AM
    CreditAccess Grameen IPO Closes on Aug 10, 2018
  3. Wednesday, August 8, 2018 12:00:00 AM
    CreditAccess Grameen IPO Opens on Aug 8, 2018

Company Contact Information

CreditAccess Grameen Limited
New No. 49 (Old No. 725) , 46th Cross, 8th Block
Jayanagar, Next to Rajalakshmi Kalyan Mantap,
Bangalore 560 071,
Phone: +91 80 2263 7300
Fax: +91 80 2664 3433
Email: csinvestors@grameenkoota.org
Website: http://www.grameenkoota.org/

CreditAccess Grameen IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: cgl.ipo@karvy.com
Website: http://karisma.karvy.com

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CreditAccess Grameen IPO Review / Comments

avatar
376. IPOANALYSIS  Aug 19, 2018 14:39 I Like It. 2 | Report Abuse Reply
IPO Guru IPO Guru (1500+ Posts, 1100+ Likes)
Fair value of stock is not more than 375 rs. Do not buy unless it falls below 375
avatar
376.2. CHD  Aug 19, 2018 20:00 I Like It. 2 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
...fair value ...ye kis chiriya ka naam hai , bhai ...?
It all depends upon the market ....any one individual cannot decide its value ...fai or unfair ...!
avatar
376.3. IPOANALYSIS  Aug 20, 2018 00:09 I Like It. 1 | Report Abuse
IPO Guru IPO Guru (1500+ Posts, 1100+ Likes)
If you apply in any NBFC remember to check their P/B value . If you check most of them are ruling around 2 except bharat financial which is too large. This one has priced at 2.7 P/B
it does not deserve anythiing abive 2 to 2.4. GFair value of stock is not more than 375

I think you people applied for listing gains. Let us see how much profit you make on listing day after brokerage. Lol
avatar
375. IPOANALYSIS  Aug 19, 2018 14:43 I Like It. 1 | Report Abuse Reply
IPO Guru IPO Guru (1500+ Posts, 1100+ Likes)
If business is in Kerala and that too in rural areas. Kerala is heavily devasted. There is going to be huge NPA in coming time. Also anyway it was an expensive stock. It's fair value is not more than 375 rs. One should not even buy if it falls below 350 for now
avatar
375.1. M K Singh  Aug 19, 2018 16:23 I Like It. 2 | Report Abuse
Don't worry. It has zero business in kerala.Once listed, it will go up and up only. Its fair value is around 475. I will advise you to buy it even at 475.
avatar
375.2. IPOANALYSIS  Aug 19, 2018 23:43 I Like It. 1 | Report Abuse
IPO Guru IPO Guru (1500+ Posts, 1100+ Likes)
Lol. Many people will be in queue to sell.ut even at 5 rs upside. No-one and even the company itself would have never come at price of 475
avatar
374. AnkurGoel  Aug 19, 2018 23:28 I Like It. 1 | Report Abuse Reply
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Future of IPOs worth $6.3 billion in limbo due to unpredictable market conditions
31 Companies have adopted 'Wait & Watch' policy due to negative sentiments
avatar
373. AnkurGoel  Aug 18, 2018 22:54 I Like It. 1 | Report Abuse Reply
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Grey market price exists in those IPOs where allotment chance are less. Since everybody who applied got the allotment except fpi or dii. So it depends on fpi and dii, if those are still interested to buy credit access on listing day.
avatar
373.3. AnkurGoel  Aug 19, 2018 22:16 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
@MK Singh, I think you missed the point. I said it depends on fii or dii to push the price up on listing day if they are interested to buy it.
avatar
373.4. AnkurGoel  Aug 19, 2018 22:17 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
@chd, you are right. Market does not work on any formula. That is why I also applied two lots and tried my luck.
avatar
371. prakash kundur  Aug 19, 2018 20:14 I Like It. | Report Abuse Reply

IPO FROM MAZGAON DOCKS

Mumbai-based warship maker Mazagon Dock Ltd has received regulatory nod to float an initial public offering (IPO).

The Securities and Exchange Board of India (SEBI) issued final observations to Mazagon Dock's IPO on 10 August, according to the website of the capital markets regulator.

Mazagon Dock is the 38th company to receive SEBI approval for an IPO in 2018. As many as 46 companies had received clearance for IPOs in 2017, according to SEBI's website.

The company had filed its draft proposal on 28 March. The IPO size is estimated at Rs 1,500 crore, people in the know had told VCCircle previously.

The government will sell 22.41 million shares, excluding shares reserved for employees, to the public. This will result in a stake dilution of a little more than 10%. The government will get three years from the date of listing to trim its stake to 75% or below as part of SEBI's minimum public float norms.

The company will not receive any proceeds from the offer. The money will go in the government's kitty.

Yes Securities (India), Axis Capital, Edelweiss Financial Services, IDFC Bank and JM Financial are the merchant bankers managing Mazagon Dock's IPO.

Mazagon Dock operated as a small dry dock in Mazagaon village in Mumbai to service the ships of the British East India Company in 1774. The dock was subsequently developed into a ship repair yard and later a ship building yard over the course of two centuries.

The company was incorporated as a private firm in 1934, and was acquired by the government in 1960 to expand its warship development programme.

The company constructs and repairs warships and submarines for use by the Indian Navy and other vessels for commercial clients. It has a maximum shipbuilding and submarine capacity of 40,000 dead weight tonnage (DWT).

Mazagon Dock is India's only shipyard to have built destroyers and conventional submarines for the Indian Navy, besides being one of the initial shipyards to manufacture corvettes.

The company operates under two verticals: One is shipbuilding, under which it builds and repairs naval ships, and second is submarine and heavy engineering, which includes building and repairing diesel electric submarines.

Mazagon Dock is currently building four P-15 B destroyers and four P-17A stealth frigates for the Ministry of Defence for use by the Indian Navy. It is also building five Scorpene class submarines under a transfer of technology agreement with Naval Group.

Since 1960, the company has built 795 vessels, including 25 warships, from advanced destroyers to missile boats and three submarines, besides delivering cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing travellers, barges and border outposts for various customers in India as well as abroad. Its order book stood at Rs 52,760.8 crore as on February 2018.

The company reported consolidated net profit of Rs 285.79 crore for the six months ended September 2017 on revenue (from operations) of Rs 1,751.4 crore. For 2016-17, the company's net profit was Rs 595.62 crore on revenue of Rs 3,530.48 crore.
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370. Bullbear  Aug 19, 2018 18:16 I Like It. 2 | Report Abuse Reply
Out of total 516 branches of this co. Only 5 branches in kerala. Maximum 191 branches in karnataka.
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369. Hiteshji  Aug 19, 2018 17:49 I Like It. 1 | Report Abuse Reply
It will list around 430
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368. HSK  Aug 19, 2018 11:53 I Like It. | Report Abuse Reply
Is there any website to know whether to apply in Equity Mutual Fund NFO?
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367. Yashwant kumar yadav  Aug 18, 2018 22:14 I Like It. 3 | Report Abuse Reply
It will be listed above Rs.480 to 520 Dont sell on listing day and touch 650 only 30 day
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367.1. CHD  Aug 19, 2018 11:19 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
...anybody's guess ....a wishful thinking only ....!
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366. santaprasadpanja  Aug 19, 2018 10:42 I Like It. 1 | Report Abuse Reply
Hold not sale
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365. CHD  Aug 18, 2018 20:13 I Like It. 2 | Report Abuse Reply
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
If markets keep booming next week too ....then definitely CAG will not disappoint the allottees .....!
avatar
364. ammubutter  Aug 18, 2018 18:52 I Like It. 1 | Report Abuse Reply
My view..... May be because of the bank holidays and the interest rate to be paid by hni for those holidays..... They might have not applied.... That's y such low subscription...... We ll watch the drama on listing day........ I'm prepared for loss or gain..... Coz earn good profit from Hdfc AMC.....
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363. SABBY  Aug 18, 2018 17:50 I Like It. 1 | Report Abuse Reply
bhai hamare jaipur me to - 5 bata rahen hai app kaunse jaipur ki rate quote kar rahe ho
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363.1. Growmore with Passion  Aug 18, 2018 17:53 I Like It. | Report Abuse
southern part of the india GMP is varies to 5 discount to 5 premium
Dont know southern part of india.
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363.2. Growmore with Passion  Aug 18, 2018 17:54 I Like It. 1 | Report Abuse
correction

western part of the india GMP is varies to 5 discount to 5 premium
Dont know southern part of india.

update if any one have idea
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362. Iponewsupdate  Aug 18, 2018 17:52 I Like It. 2 | Report Abuse Reply
Listing around 440 to 480
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361. Shy maheshwari  Aug 18, 2018 17:02 I Like It. 1 | Report Abuse Reply
CURRENT GMP AT JAIPUR RS. 30 ..
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361.1. CHD  Aug 18, 2018 17:26 I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
only 23rd will tell ....
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360. Dinesh Parekh  Aug 18, 2018 16:29 I Like It. 2 | Report Abuse Reply
THOSE WHO SAYS CAGL GREY MARKET PREMIUM IS MINUS OR 1 OR 2 RUPEES THEN DARE TO SHORT SELL ON LISTING DAY THEN THEY CAN EARN WITHOUT APPLYING THE IPO.!!!
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359. Growmore with Passion  Aug 18, 2018 15:19 I Like It. 2 | Report Abuse Reply
any one can share which price CAG will be listed???????
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359.1. Ritesh Jhunjhunwala  Aug 18, 2018 16:09 I Like It. 3 | Report Abuse
It will be listed above Rs.500...Dont sell on listing day and buy more...It will touch 700 by Diwali...
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358. Avinash khandelwal  Aug 18, 2018 15:50 I Like It. 1 | Report Abuse Reply
Grey ---1 and --2
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357. AVGIPO  Aug 18, 2018 15:49 I Like It. 2 | Report Abuse Reply
Listing likely to be Rs.440 to Rs.480
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