Bengaluru-based Credit Access Grameen NCD will start from 14th Dec 2022, It is one of India’s top microfinance organisations. According to MFIN India, as of March 2022, the company had the highest NBFC-MFI gross loan portfolio in India. High customer retention rates and low credit costs have been made possible by the company’s customer-centric business model, a wide range of product offers, and well-designed product delivery and collection systems.
The company focuses primarily on customers in rural India, where there is a latent possibility to provide microloans because these customers are mostly excluded from the official banking system.
Credit Access Grameen NCD : 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 |
Credit Access Grameen NCD: Allocation Details
| Category | NCD’s Allocated |
| Institutional | 25% |
| Non-Institutional | 35% |
| HNI | 15% |
| Retail | 25% |
Credit Access Grameen NCD: Industry Overview
As of 31 March 2022, 12 Banks held the largest portion of the microcredit portfolio, accounting for 40.0% of the whole microcredit market with a total loan outstanding of Rs 1,14,051 Cr. With a loan balance of Rs 1,00,407 Cr and a share of 35.2% in the overall industry portfolio, NBFC-MFIs are the second-largest providers of microcredit. SFBs currently owe Rs. 48,314 Cr. in total loans, accounting for 16.9% of the outstanding balance. Other MFIs make up 1.0% of the total, whereas NBFCs represent 6.9% more. The five broad categories of microlenders are represented in the table below, along with their key portfolio and outreach numbers.
As of March 31, 2022, the industry has 11.3 billion loan accounts serving 5.8 billion distinct borrowers. The regional distribution is seen in the pie chart below, with approximately 64% of the portfolio concentrated in the East & Northeast and South areas.
Check Rustomjee IPO GMP, Issue Size, Issue Details
Credit Access Grameen NCD :National Footprints
As of September 30, 2022, the company had 1,684 branches and 16,018 employees, serving an active combined customer base of 132 of 38.0 lakhs across 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.
Credit Access Grameen NCD: Strengths
- Customer-centric business model resulting in high customer retention.
- Deep penetration in Rural areas built through calibrated, contiguous district-based expansion.
- Robust customer selection and risk management policies resulting in healthy asset quality.
Credit Access Grameen NCD:Weaknesses
- Operations are majorly concentrated in Karnataka, Maharashtra and Tamil Nadu. Any adverse developments in these states could have an adverse effect on its business, results of operations, financial condition and cash flows.
- Microfinance loans are unsecured and are susceptible to various operational and credit risks which may result in increased levels of NPAs.
- An increase in its portfolio of non-performing assets.
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)
- A.K. Capital Services Limited
