CreditAccess Grameen NCD 2022 will open for subscription from 14 November 2022. the company aims for a base issue size of ₹250 Crores.
CreditAccess Grameen Limited
It 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 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 September 30, 2022, the company has 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.
Objects of the Issue
- For onward lending, financing, and repayment of interest and principal of existing borrowings of the Company.
- General Corporate Purposes.
CreditAccess Grameen NCD 2022 Details
| Issue Open | Nov 14, 2022 – Dec 2, 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 |
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 | Secured | Secured | Secured | Secured | 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 Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 12590.21 | 1705.48 | 335.49 | 2720.34 |
| 31-Mar-21 | 15060.23 | 2466.07 | 131.4 | 3645.54 |
| 31-Mar-22 | 17394.75 | 2750.13 | 357.1 | 4017.53 |
NCD Allocation Ratio
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 |
Company Promoters
- CreditAccess India N.V.
NCD Lead Manager(s)
- A.K. Capital Services Limited
CreditAccess Grameen NCD Registrar
KFin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: ibhl.ncdipo@kfintech.com
Website: https://karisma.kfintech.com/
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/
Final Thoughts
Non Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in CreditAccess Grameen NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
