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IPO

BondsIndia

AA-

Opening Date

14 Nov 2022

Closing Date

2 Dec 2022

Yield

Upto 10.46%

Tenure

Upto 60 Months

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Time to close

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Company Details
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Home   /   IPO   /   CREDITACCESS GRAMEEN LIMITED

IPO

CREDITACCESS GRAMEEN LIMITED

Ongoing IPO

CREDITACCESS GRAMEEN LIMITED

Opening Date
14 Nov 2022

BondsIndia

AA-

Closing Date
02 Dec 2022

bondsindia

Time to close

Yield
Upto 10.46%

Tenure
Upto 60 Months

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IPO Details

IPO Details

Issue Size (Including Green Shoe Option) 500.00 crores
Face Value ₹1000
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 08 Dec 2022
Listing Date (Tentative) 12 Dec 2022
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III
IV*
V
VI
Frequency of Interest payment
Monthly
Cumulative
Monthly
Cumulative
Monthly
Cumulative
Minimum Application
10000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD)
1000
In multiples of thereafter ()
10000 (1 NCD)
Tenure (Months)
24
Months
24
Months
36
Months
36
Months
60
Months
60
Months
Coupon (% per annum) for NCD Holders in all categories
9.45%
NA
9.60%
NA
10.00%
NA
Effective Yield (% per annum) for NCD Holders in all categories
9.83%
9.83%
10.02%
10.02%
10.46%
10.46%
Mode of Interest Payment
Not Applicable
Redemption Amount ( / NCD) on Maturity for NCD Holders in all categories)
1,000
1,206.57
1,000
1,332.07
1000
1,644.91

How to invest in the Creditaccess Grameen Limited IPO?

Application process on BondsIndia platform is simple and seamless.

•Click on the details of the company on the home page

•Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank and Demat details

•Then, confirm the quantity and price and select payment method.

•That’s all folks , bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.

Why choose BondsIndia?

BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.

BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Creditaccess Grameen Limited IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
Creditaccess Grameen Limited ?

Application process on BondsIndia platform is simple and seamless.

  • Click on the details of the company on the home page
  • Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank, and Demat details
  • Then, confirm the quantity and price and select a payment method.
  • That’s all folks, bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.

AUM

16,539.11 Crs

GNPA

2.57%

NPA

2.36%

  • CreditAccess Grameen Limited is a leading Indian micro-finance institution headquartered in Bengaluru, focused on providing joint liability group loans and micro-loans primarily to women customers predominantly in rural areas in India. According to MicroFinance Institutions Network, India, CA Grameen was the largest NBFC- MFI in India in terms of the gross loan portfolio as of March 2022.
  • As of September 30, 2022, CA Grameen had presence in 333 districts in the 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 through 1,684 branches and 16,018 employees, serving an active consolidated customer base of 38.0 lakhs, as of September 30, 2022.
  • CA Grameen offers a diverse suite of lending products that cater to the critical needs of the customers throughout their life cycle and includes income generation, health care, education, festival celebration, home improvement, water, and sanitation. CA Grameen focuses predominantly on customers in rural areas in India, who largely lack access to the formal banking sector and present a latent opportunity for offering micro-loans.
  • Customer-centric business model resulting in high customer retention
    CA Grameen has a high Active Customer Retention Rate of 84% as of March 31, 2022, on a standalone basis. During the past three financial years, their focus has been on retaining the existing borrowers, whilst consciously adding new borrowers with a deep rural focus. The company follows a multi-pronged approach to customer engagement, which comprises the following key elements: Product offerings across the entire customer life-cycle, Tailor-made product offerings providing flexibility to customers, Focus on customer engagement, Regular feedback and timely grievance resolution. The Company has recently been certified with Gold Level under the new client protection certification methodology developed by Cerise and SPTF (Social Performance Task Force) in June 2022.
  • Deep penetration in Rural areas built through calibrated, contiguous district based expansion
    CA Grameen 2019 management believes that their deep penetration in rural areas, built through a contiguous district-based expansion strategy provides them with significant scale and diversification advantages. CA Grameen 2019 contiguous expansion provides significant scale and diversification advantages including familiarity of the loan officers with demographics of nearby districts enables effective customer evaluation and better servicing.
  • Robust customer selection and risk management policies resulting in healthy asset quality CA Grameen 2019 management follows robust customer selection and risk management policies, which have resulted in healthy asset quality and lower credit costs. The company follows a systematic methodology in the selection of new geographies where they open branches, which takes into account factors such as the historic PAR% of the proposed district, competition in the new geographies, potential for micro-lending and socio-economic risk evaluation (for e.g., the risk of communal riots or natural disasters). CA Grameen effective credit risk management is reflected in their portfolio quality indicators such as robust repayment rates, stable PAR and low rates of GNPA backed by adequate provisioning cover.
  • Strong track record of financial performance and operating efficiency CA Grameen 2019 Gross AUM (consolidated) was Rs. 16,539.11 crore as of September 30, 2022. Disbursements across their financing products for the half year ended September 30, 2022 (consolidated) was Rs 6,520.60 crore and their net interest income (representing interest income plus income from direct assignment of outstanding loans reduced by finance costs) for half year ended September 30, 2022 (consolidated) was Rs 977.70 crore. CA Grameen 2019 Profit after tax for the half year ended September 30, 2022 (consolidated) and the financial years ended March 31, 2022 (consolidated), 2021 (consolidated) and 2020 (consolidated) was 209315.71 crore, 209357.10 crore, 209131.40 crore and 209335.49 crore, respectively.
  • Professional management team with extensive domain experience CA Grameen is a professionally managed company, and their senior management team has an established track record in the financial services industry. The company has strengthened its top management team by creating positions of Deputy CEO & Chief Business Officer, Chief Risk Officer, Chief Technology Officer, Chief Audit Officer and Chief Information Security Officer in addition to their MD & CEO and CFO. The companyu2019s MD & CEO, Udaya Kumar Hebbar, has over 31 years of experience in the banking industry.
  • Concentration Poses Key Risk to Credit Costs
    While the concentration in Karnataka (36%) has reduced, it still is high (even considering MMFL) as a top state compared to other large MFIs. This is of significance, given the idiosyncratic and systemic risks that the sector faces, and the importance of concentration in Ind-Ra 2019 stress tests. Notably, at a districtlevel, the concentration has reduced with the share of the top 10 districts in terms of AUM declined to 21% at end-March 2022 (FYE19: 32%), with no single district accounting for more than 4% of the portfolio. Moreover, with implementation of risk-based pricing strategy, Ind-Ra expects geographical and product diversification is to gain pace.
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