 Hey, I want to invite you to join Stocktwits. It’s the largest global community of active traders. You’ll get access to the real-time market insights, news, discussion and much more! You can sign up using my unique link below 
 


 has invited you to join Stocktwits

The NCDs are listed on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE). It is rated IND AA-Stable by India Ratings and Research Private Limited.The NCD Tranche II issue had a base issue size of Rs 400 crore with an option to retain oversubscription up to Rs 600 crore aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 1,500 crore. The company said that, “The NCD Tranche II Issue opened for subscription on 24 August 2023, and had an early closure on 1 September 2023. The Tranche II Issue received a subscription of about Rs 1,012 crore (2.53x of the base issue size) as per the consolidated bid details on the stock exchange platforms.”The micro finance institution exercised the option to retain oversubscription and allocated 98,95,794 NCDs of the face value of Rs 1,000 each to valid applications aggregating to Rs 989.58 crore.Udaya Kumar Hebbar, managing director of CreditAccess Grameen said, “We are pleased to witness another successful raising of domestic funds through the public NCD route. This demonstrates the confidence of various investors in our unique business model, aiming to advance the financial inclusion agenda across rural India. The issue aligns with our liability strategy which focuses on diversification in funding sources and higher share of longer tenure funds, leading to positive ALM mismatch and stronger liquidity position.” Bengaluru-based CreditAccess Grameen is a microfinance institution, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating in 352 districts in 14 states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and West Bengal) and one union territory (Puducherry) in India through 1,786 branches.The companys net profit surged 151.5% to Rs 348.46 crore on 53.9% jump in total income to Rs 1,170.72 crore in Q1 FY24 over Q1 FY23.

CreditAccess gains on raising Rs 989 cr via NCDs

CreditAccess Grameen has successfully raised Rs 989.58 crore hrough public issue of secured, redeemable Non-Convertible Debentures(NCDs). The NCDs are listed on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE). The NCD Tranche II Issue had a base issue size of Rs 400 crore with an option to retain oversubscription up to Rs 600 crore aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 1,500 crore. The NCDs are rated IND AA-Stable by India Ratings and Research.The NCD Tranche II Issue opened for subscription on Thursday, August 24, 2023, and had an early closure on 01 September 2023. The Tranche II Issue received a subscription of about Rs 1,012 crore (2.53x of the Base Issue size) as per the consolidated bid details on the stock exchange platforms. The Company exercised the option to retain oversubscription and allocated 98,95,794 NCDs of the face value of Rs 1,000 each to valid applications aggregating to Rs 989.58 crore. 

CreditAccess Grameen raises Rs 989.58 cr via public issue of NCDs 

 CreditAccess Grameen has allotted 98,95,794 secured, rated, listed, redeemable, non-convertible debentures of face value of Rs 1000 each for cash at par, aggregating to Rs 989.58 crore on public issue basis. 

 CreditAccess Grameen allots NCDs aggregating Rs 989.58 cr 

The issue will open on August 24, 2023 and closes on September 6, 2023.

CreditAccess Grameen shares gain on board nod to raise up to Rs 1,000 crore

The company said that the public issuance of debentures is within the shelf limit of Rs 1,500 crore.The secured rated, listed, redeemable NCDs have a face value of Rs 1,000 each. The issue will open on 24 August 2023 and will close on 6 September 2023.These debentures are proposed to be listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).Bengaluru-based CreditAccess Grameen is a microfinance institution, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating in 352 districts in 14 states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and West Bengal) and one union territory (Puducherry) in India through 1,786 branches.The companys net profit surged 151.5% to Rs 348.46 crore on 53.9% jump in total income to Rs 1,170.72 crore in Q1 FY24 over Q1 FY23.The scrip slipped 2.48% to end at Rs 1,369.05 on Friday, 18 August 2023.

CreditAccess' board OKs NCD issue of Rs 1,000 cr

Geojit recommended accumulate rating on CreditAccess Grameen with a target price of Rs 1615 in its research report dated August 14, 2023.

Accumulate CreditAccess Grameen; target of Rs 1615: Geojit

JM Financial is bullish on CreditAccess Grameen has recommended buy rating on the stock with a target price of Rs 1550 in its research report dated July 23, 2023.

Buy CreditAccess Grameen; target of Rs 1550: JM Financial

Emkay Global Financial is bullish on CreditAccess Grameen has recommended buy rating on the stock with a target price of Rs 1800 in its research report dated July 23, 2023.

Buy CreditAccess Grameen; target of Rs 1800: Emkay Global Financial

Motilal Oswal is bullish on CreditAccess Grameen recommended buy rating on the stock with a target price of Rs 1660 in its research report dated July 23, 2023.

Buy CreditAccess Grameen; target of Rs 1660: Motilal Oswal

ICICI Securities is bullish on CreditAccess Grameen recommended buy rating on the stock with a target price of Rs 1550 in its research report dated July 24, 2023.

Buy CreditAccess Grameen; target of Rs 1550: ICICI Securities

CreditAccess Grameen Ltd. engages in the provision of micro finance services. It offers life insurance, emergency loans, family welfare loans, home improvement loans, retail finance, Jagruti program, and workshops. The company was founded by Vinatha Madhusudhan Reddy in May 1999 and is headquartered in Bangalore, India.

Watchers	18
52-Wk Low	834.10
52-Wk High	1,502.00

Market Cap	205.48B
Volume (M)	281,553.00
52-Wk High	1,502.00
52-Wk Low	834.10

CREDITACC.NSE CreditAccess Grameen Ltd.

About

Feed

News

Fundamentals