CreditAccess Grameen Limited IPO
CreditAccess Grameen Limited, a Micro finance Institution in India, is coming out with an IPO of more than 1100 crores. It has got its approval from SEBI for listing on both NSE and BSE. The IPO begins on Aug 08 and closes on Aug 10, 2018. The price band for an equity share of face value of Rs. 10 is fixed at Rs. 418 to Rs. 422 per equity share with minimum lot size of 35 shares. The applicants may apply for the issue through ASBA route only.
About CreditAccess Grameen Limited
CreditAccess Grameen, incorporated in 1991, headquartered in Bangalore, Micro finance Institution offering micro loans to women primarily in the rural segment. It provides different varieties of loans meant for starting a business, family welfare requirements, home improvement or loans to cater to emergency situations. The loans given are protected with unique joint liability group model. Most of its existing loans are given for the requirements like home improvement or emergency loans. For other retail loans, the eligibility criteria include the association of the customer with the firm for at least three years apart from credit history, income or business situation.
The Company is primarily operating through 516 branches and 4544 loan officers in 132 districts of 8 states in India. These states are Karnataka, Maharashtra, Tamil Nadu, Odisha, Kerala and Goa along with one union territory Pondicherry. Currently, company is having a customer base of 1.85 million active customers.
The Draft red herring prospectus states following positive outlook for the Company.
- Follow customer centric business model for high customer retention,
- Focus primarily in Rural Areas characterized by low competition and built through contiguous district-based expansion,
- Maintain strong asset quality following robust customer selection and risk management policies,
- Robust performance in financial and operational record,
- Manage a knowledgeable and efficient management and working team,
- Diversified sources of borrowings and effective asset-liability management.
The Objective of the Creditaccess IPO
It is important to note that company will not get entire proceeds of an IPO/Offer for sale.
Only the fresh issue of Rs.630 crores will be issued as a fresh capital for company. Rest of issue will be offer for sale from existing shareholders.
Main Points that you should know before applying for Creditaccess ipo
The Face value of CreditAccess IPO is Rs. 10 per equity share.
The Price Band of CreditAccess IPO is Rs.418 to Rs.422 per equity share.
The Date of CreditAccess IPO is Aug 08, 2018 to Aug 10, 2018
The Minimum Lot for CreditAccess IPO is 35 shares.
The Maximum amount for Retail application in CreditAccess IPO is Rs. 2 lacs
The CreditAccess IPO can be applied through ASBA route.
The CreditAccess will get listed in National Stock Exchange (NSE) and The Stock Exchange, Mumbai (BSE)
The Issue size for CreditAccess IPO is Rs.1126 cr to Rs.1131 cr. It includes the Fresh issue of Rs.630 crs and Offer for sale of 11876485 equity shares.
35% of the issue size in CreditAccess is reserved for retail investors.
Important dates for CreditAccess IPO
Date of Issue Open : Aug 08, 2018
Date of Issue close : Aug 10, 2018
Date of Allotment of equity shares for successful applicants : Aug 16, 2018
Date of unblocking for amount of unsuccessful applicants for CreditAccess IPO : Aug 17, 2018
Date on which CreditAccess IPO shares will be credited in the Demat account : Aug 20, 2018
Date of listing for CreditAccess IPO equity shares in NSE and BSE : Aug 21, 2018
Should you apply for CreditAccess IPO
It is a leading Micro Finance Institution with a very large network and huge customer base increase in last five years.
The unique model for loan disbursal and risk management keep a check on loan defaults.
Financials of last 5 years states a huge jump in profits
| Particulars | For the year/Period ended (Rs. in Million) | ||||
| Financial Year | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 |
| Total Equity & Liabilities | 52,183.48 | 35,640.72 | 28,079.76 | 17,268.09 | 10,580.80 |
| Total Revenue | 8,752.05 | 7,092.61 | 4,667.19 | 2,814.28 | 1,478.29 |
| Total Expenses | 6,823.46 | 5,849.63 | 3,371.76 | 2,065.10 | 1,230.29 |
| Profit After Tax (PAT) | 1,246.41 | 802.98 | 832.41 | 487.32 | 166.26 |
The amount raised in the IPO to the extent of Rs.630 crores will be used for increasing the book size which will further increase the business.
Did you get the Allotment in CreditAccess IPO
If you have applied and wish to check for Allotment status in CreditAccess IPO, you may check the same on registrar website using your Application Number or PAN number or DP client Id.
The link for check your allotment status of CreditAccess IPO is https://corpreg.karvy.com/ipostatus/
Normally the website for registrar gets a huge traffic on the day of allotment so website may be running little slow.
Lead Managers of the Issue
| ICICI Securities Limited ICICI Centre
H.T. Parekh Marg Churchgate, Mumbai 400 020 Maharashtra, India Tel : +91 22 2288 2460 Fax : +91 22 2282 6580 E-mail: cagrameen.ipo@icicisecurities.com Investor grievance E-mail: customercare@icicisecurities.com Website: www.icicisecurities.com Contact Person: Shekhar Asnani/ Anurag Byas SEBI Registration No.: INM000011179 |
Credit Suisse Securities (India) Private Limited Ceejay House,
9th Floor Plot F, Shivsagar Estate Dr. Annie Besant Road Worli, Mumbai 400 018 Maharashtra, India Tel: +91 22 6777 3885 Fax: +91 22 6777 3820 E-mail:list.grameenkootaipo@creditsuisse.com Investor grievance E-mail: list.igcellmerbnkg@credit-suisse.com Website: www.credit-suisse.com Contact Person: Abhay Agarwal SEBI Registration No.: MB/ INM000011161 |
| ) IIFL Holdings Limited 10th Floor,
IIFL Centre Kamala City, Senapati Bapat Marg Lower Parel (West), Mumbai 400 013 Maharashtra, India Tel: +91 22 4646 4600 Fax: +91 22 2493 1073 E-mail: cagr.ipo@iiflcap.com Investor grievance E-mail: ig.ib@iiflcap.com Website: www.iiflcap.com Contact Person: Vishal Bangard/ Pranay Doshi SEBI Registration No.: INM000010940 |
Kotak Mahindra Capital Company Limited
1st Floor, 27 BKC, Plot No. 27 “G” Block, Bandra Kurla Complex Bandra (East), Mumbai 400 051 Maharashtra, India Tel: +91 22 4336 0000 Fax: +91 22 6713 2447 E-mail: cagl.ipo@kotak.com Investor grievance E-mail: kmccredressal@kotak.com Website: www.investmentbank.kotak.com Contact Person: Ganesh Rane SEBI Registration No.: INM000008704 |
In case of any queries or issues related to CreditAccess IPO, you may contact the Registrar to the Issue:-
Karvy Computershare Private Limited
Karvy Selenium, Tower B Plot 31-32,
Gachibowli Financial District,
Nanakramguda Hyderabad 500 032
Tel: +91 40 6716 2222
Fax: +91 40 2343 1551
E-mail: einward.ris@karvy.com
Investor grievance E-mail: cgl.ipo@karvy.com
Website: http:// karisma.karvy.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221
Registered Office of CreditAccess Grameen Limited
New No. 49 (Old No. 725), 46th Cross, 8th Block, Jayanagar,
Next to Rajalakshmi Kalyan Mantap,
Bangalore 560 071, Karnataka, India
Tel: +91 80 2263 7300;
Fax: +91 80 2664 3433
Contact Person: Darshana Kothari,
Company Secretary and Compliance Officer; E-mail: csinvestors@grameenkoota.org;
Website: www.grameenkoota.org
Corporate Identity Number: U51216KA1991PLC053425
