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CreditAccess Grameen Limited NCD (CreditAccess Grameen NCD 2022) Detail

Nov 14, 2022 - Nov 17, 2022
CreditAccess Grameen Limited Logo

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.

CreditAccess Grameen NCD 2022 Detail

Issue Open Nov 14, 2022 - Nov 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 TrustiesCATALYST TRUSTEESHIP LIMITED

NCD Allocation Ratio

Category ? NCD's Allocated
Institutional 25%
Non-Institutional 35%
HNI 15%
Retail 25%

NCD's Offered by Category

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

NCD Rating

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.

Company Promoters

The company's promoter is CreditAccess India N.V.

Company Financials

CreditAccess Grameen Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet Worth
31-Mar-2012590.211705.48335.492720.34
31-Mar-2115060.232466.07131.43645.54
31-Mar-2217394.752750.13357.14017.53
Amount in ₹ Crore

Objects of the Issue

The following are the details of the objects of the Tranche I Issue and the amount proposed to be financed from Net Proceeds:

  • For onward lending, financing and repayment of interest and principal of existing borrowings of the Company.
  • General Corporate Purposes.

CreditAccess Grameen NCD 2022 Prospectus

CreditAccess Grameen NCD 2022 Subscription Status

The CreditAccess Grameen NCD 2022 was subscribed 3.02 times on Nov 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)
Retail3.15x
HNI2.69x
Non-Institutional2.02x
Institutional4.48x
Total3.02x

Check Day by Day Bidding Details

CreditAccess Grameen NCD 2022 Rating

32
4.2
Rating:Rated 4.2 stars
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CreditAccess Grameen NCD 2022 Reviews

Company Contact Information

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/

CreditAccess Grameen NCD 2022 Registrar

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://karisma.kfintech.com/

CreditAccess Grameen NCD 2022 Lead Manager(s)


6 Comments

6. Vimal Garodia   I Like It. |Report Abuse|  Link|Nov 26, 2022 6:14:16 PMReply
I did not get the allotment but the money is still blocked. SBI ASBA. Sent an email to registrar, let us see what happens.
Anybody else having same problem?
5. Abhinav   I Like It. |Report Abuse|  Link|Nov 16, 2022 2:00:58 PMReply
I can see that the subscription status says x times. Aren't the bond IPOs on first come first serve basis? Can you please explain?
5.1. IPOKnight   I Like It. |Report Abuse|  Link|Nov 16, 2022 6:51:12 PM
There is issue size and shelf size which means the issuer can raise money upto shelf size and subscription shown is based on base issue size only. So till its full subscribed upto shelf portion the allotment will be on first cum first serve basis.
4. himanshu   I Like It. 1|Report Abuse|  Link|Nov 15, 2022 7:46:10 AMReply
Please take care of your money.... Mr Dilip Davda is the same person who had also recommended SREI NCD subscription....That company has defaulted and investor's money has vanished.. If you assume that these are knowledgeable and experienced people for following their recommendation,, your money is going in someone's pocket...Check last 10 years financials of Credit Grameen....You will know it....The companies pay for these recommendations....
4.1. S RAMESH   I Like It. |Report Abuse|  Link|Nov 15, 2022 3:36:22 PM
Thank a lot
4.2. HT   I Like It. |Report Abuse|  Link|Nov 16, 2022 9:44:49 AM
Why don't you start recommending then? Something that is 100% accurate all the time
3. KARTHIKEYAN T   I Like It. |Report Abuse|  Link|Nov 15, 2022 8:36:18 PMReply
Dear Admin
Kindly note that last date for subscription is 17th November 2022 4.59pm.
Not 17th December 2022
Kindly check and rectify.
Thanks
3.1. Team Chittorgarh.com   I Like It. |Report Abuse|  Link|Nov 15, 2022 8:42:40 PM
Fixed. Apologies for the typo.
2. SBB   I Like It. |Report Abuse|  Link|Nov 14, 2022 10:28:54 AMReply
Thank you for the valuable information. I tried to apply through HDFC securities as well as HDFC bank ASBA facility but it appears that HDFC have decided not to list CAGL NCD. What could be the reason and what is alternative to apply?
1. Santosh Pareek   I Like It. |Report Abuse|  Link|Nov 9, 2022 12:01:07 PMReply
The company focuses primarily on customers in rural India who lack access to the formal banking sector and represent an untapped opportunity for offering micro-loans. Products are based on a deep understanding of our customers' requirements (particularly those from rural areas) developed over time, as well as the flexibility of our products (in terms of functionality).