Creditaccess Grameen Ipo is a company engaged in providing micro-loans to women in Rural Areas in India and construction and is all set to make a debut in the stock market with an issue size of 1131.19 Cr.
Creditaccess Grameen Ipo– Overview
| Issue Date | 8-10 Aug 2018 |
| Creditaccess Grameen Ipo Opening Date | 8 Aug 2018 |
| CREDITACCESS GRAMEEN IPO Face Value | INR 10 per share |
| Creditaccess Grameen Ipo Price | INR 422 per share |
| Creditaccess Grameen Ipo Lot Size | 35 Shares |
| Issue Size | 1131.19 Cr |
| Offer for sale | – |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 5.52 times |
| NII (HNI) Shares | 0.98 times |
| Company Promoters | The promoter of the company is CreditAccess Asia N.V. (“CAA”). It holds 126,985,513 Equity Shares, equivalent to 98.88% of the pre-Offer issued, subscribed and paid-up equity share capital and will continue to hold a majority of the post-Offer paid-up Equity Share capital of the Company. |
Tentative Dates
| Creditaccess Grameen Ipo opening date | 8 Aug 2018 |
| Creditaccess Grameen Ipo closing date | 10 Aug 2018 |
| Basis of Allotment | 16 Aug 2018 |
| Initiation of Refunds | 20 Aug 2018 |
| The credit of Shares to Demat | 21 Aug 2018 |
| Creditaccess Grameen Ipo Listing Date | 23 Aug 2018 |
Company Overview
The company engaged in providing micro-loans to women in Rural Areas in India. According to CRISIL Research as of March 31, 2017, the company is the third largest NBFC-MFI in gross loan portfolio in the country.
The company primarily focuses on providing income generating loans to women with low annual household income in Rural Areas.
The loans are provided primarily under the joint liability group (“JLG”) model. Income generation loans comprise 87.02% the total JLG loan portfolio.
Industry Overview
The GLP of MFIs grew at 51% CAGR from fiscal year 2012-13 to fiscal year 2016-17.CRISIL Research notes that the opportunity to capture market share from unorganized lenders will continue to drive MFI industry growth in the future. MFIs may be able to expand their portfolio by servicing areas that are least penetrated and where unorganized moneylenders are predominantly present.
Creditaccess Grameen Ipo-Objectives
- The Offer comprises of the Fresh Issue and the Offer for Sale.
- The Company will not receive any proceeds from the Offer for Sale.
- The net Proceeds from the Fresh Issue will be utilized towards augmenting the capital base to meet future capital requirements of the company which are expected to arise out of growth in the Company’s assets, primarily the Company’s loans and advances and other investments.
Financial Statements
| Particulars | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 |
| Total Assets | 52,183.48 | 35,640.72 | 28,079.76 |
| Total Revenue | 8,752.05 | 7,092.61 | 4,667.19 |
| Profit After Tax | 1,246.41 | 802.98 | 832.41 |
Creditaccess Grameen Ipo- Strengths
- Promoted by Credit Access Asia N.V., a multinational company specializing in MSE financing.
- Strong financial performance with Gross AUM growth at a CAGR of 57.45% from Rs 8,095.22 million in March 31, 2014 to Rs 49,746.61million in March 31, 2018.
- Deep penetration in the rural market with 1.85 million active Customers out of the total Customer base of 2.19 million. The company’s 422 out of 516 branches are categorized as rural branches.
- Strong operational efficiency with the lowest operating expense ratio amongst the top-eight NBFC-MFIs and SFBs for 2017, according to CRISIL
Company Contact Information
CreditAccess Grameen Limited
New No. 49 (Old No. 725) , 46th Cross, 8th Block
Jayanagar, Next to Rajalakshmi Kalyan Mantap,
Bangalore 560 071,
Phone: +91 80 2263 7300
Email: csinvestors@grameenkoota.org
Website: http://www.grameenkoota.org/
CreditAccess Grameen IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: cgl.ipo@karvy.com
Website: https://karisma.kfintech.com/
Lead Manager(s)
- Credit Suisse Securities (India) Private Limited (Past IPO Performance)
- ICICI Securities Limited (Past IPO Performance)
- IIFL Securities Ltd (Past IPO Performance)
- Kotak Mahindra Capital Company Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
