Thursday, 9 August 2018

Important facts about CreditAccess Grameen IPO

Microfinance firm Credit Access Grameen was subscribed 25% on Wednesday. On the first day of the share sale, investors bid for about 47 lakh shares of the 1.88cr shares on offer.

The Bengaluru-based company had placed the price band at Rs418-422 per equity share.

The issue consists of a fresh issue of shares worth up to Rs630cr and offer of sale of Rs501cr.

The enterprise mainly provides micro-loans to women in rural India. It boasts of a network of 516 branches across 132 districts in eight states, with Karnataka and Maharashtra contributing ~86% to its loan book.

Meanwhile, the company is promoted by Credit Access Asia NV, which is a multinational founded in 2006. Based out of Amstelveen in Netherlands, with additional branches in Indonesia and the Philippines, apart from India, the company offers financial services to individuals and small businesses.


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