CreditAccess Grameen Limited NCD – Tranche II NCD 2023

CreditAccess Grameen Limited NCD opens for subscription from 24 August 2023. the company aims for a base issue size of ₹1000 Crores.

About the company

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, 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 focuses 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 has 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.

Objectives of the Issue

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

CreditAccess Grameen Limited NCD Details

Issue OpenAug 24, 2023 – Sep 6, 2023
Security NameCreditAccess Grameen Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)₹ 1,000.00 Crores
Issue Size (Shelf)₹ 1,500.00 Crores
Issue Price₹ 1000 per NCD
Face Value₹ 1000 for each NCD
Minimum Lot Size10 NCD
Market Lot1 NCD
Listing AtBSE, NSE
Credit RatingIND AA-/Stable
Tenor24, 33, and 60 months
SeriesSeries I to VIII
Payment FrequencyMonthly and Cumulative
Basis of AllotmentFirst Come First Serve Basis
Debenture Trustee/sCatalyst Trusteeship Limited

Options and Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8
Frequency of Interest PaymentMonthlyCumulativeMonthlyCumulativeMonthlyCumulativeMonthlyCumulative
Tenor24 Months24 Months33 Months33 Months50 Months50 Months60 Months60 Months
Coupon (% per Annum)9.10%NA9.25%NA9.40%NA9.70%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.)₹ 1,000.00₹ 1,198.82₹ 1,000.00₹ 1,288.12₹ 1,000.00₹ 1,477.11₹ 1,000.00₹ 1,621.19

NCD Rating

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.

Company Financials

Period Ended31 Mar 202131 Mar 202231 Mar 2023
Profit After Tax131.40353.07826.06
(Amount in ₹ Crore)

NCD Allocation Ratio

Category NCD’s Allocated

Company Promoters

  • CreditAccess India N.V.

NCD Lead Manager

  • A.K. Capital Services Limited

NCD Registrar

Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.

Phone: 04067162222, 04079611000

Company Contact Details

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

Final Thoughts

Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in CreditAccess Grameen Limited NCD is purely your personal choice. make a good study and analysis before you make the investment.

Happy Investing

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