[.]| Listing at BSE, NSE | Thu, Aug 24, 2023 - Fri, Sep 1, 2023
CreditAccess Grameen Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹1,500.00 Cr with a base issue size of ₹1,000.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
CreditAccess Grameen Ltd. NCD issue opens on Aug 24, 2023 and closes on Sep 1, 2023. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 9.10% per annum to 9.70% per annum, depending on the series and tenure selected.
The NCD has been rated: .
A.K.Capital Services Ltd. is the Lead Manager to the issue, Catalyst Trusteeship Ltd. is the Debenture Trustee, and Kfin Technologies Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Thu, Aug 24, 2023
Close Date
Fri, Sep 1, 2023
Issue Size (Overall)
[.]
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 |
| 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 company's promoter is CreditAccess India N.V.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 25.00% | 10,00,000 |
| Non-Institutional | 30.00% | 12,00,000 |
| HNI | 20.00% | 8,00,000 |
| Retail | 25.00% | 10,00,000 |
| Total | 100.00% | 40,00,000 |
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 regarding the gross loan portfolio as of March 2023.
The company's customer-centric business model, a wide range of product offerings, and 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 June 30, 2023, the company have a presence in 353 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 1,826 branches and 17,391 employees, serving active consolidated customer base 44.2 lakhs, as of June 30, 2023.
The following are the details of the objects of the Tranche II Issue and the amount proposed to be financed from Net Proceeds:
[Dilip Davda] This leading company in the NBFC - MFI (Micro Finance Industry) segment with continued growth has fared well and is poised for bright prospects ahead. This debt issue with a lucrative coupon rate and AA-/Stable rating may be considered by investors looking for a regular steady income for the medium to long term. Read detail review...
The CreditAccess Grameen Tranche II NCD 2023 was subscribed 2.53 times on Sep 01, 2023 17:00. The NCD subscribed 2.63 times in Retail, 2.20 times in HNI, 2.69 times in Non-Institutional, and 2.50 times in Institutional category.
CreditAccess Grameen Ltd.
New No. 49 (Old No. 725), 46th Cross, 8th Block,
Jayanagar, Rajalakshmi Kalyana Mantap
Bengaluru 560 071, Karnataka
Bengaluru, Karnataka, 560071
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem CreditAccess Grameen Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
