CreditAccess Grameen Limited IPO (CreditAccess Grameen IPO) Detail
ABOUT THE COMPANY:
CreditAccess Grameen Limited (formerly known as Grameen Koota Financial Services Pvt. Ltd.) was born out of the need for timely and affordable credit to India’s poor and low-income households.
CreditAccess Grameen Limited is a leading micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. According to CRISIL Research, it was the third largest NBFC-MFI in India in terms of gross loan portfolio as of March 31, 2017. Its range of lending products addresses the critical needs of customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.
Company’s focus customer segment is women having an annual household income of Rs.160,000 or less in Urban Areas and Rs.100,000 or less in Rural Areas. Company provide loans primarily under the joint liability group (“JLG”) model.
Company’s primary focus is to provide income generation loans to their Customers, which comprised 87.02% of their total JLG loan portfolio, as of March 31, 2018.
Company also provide other categories of loans such as family welfare loans, home improvement loans and emergency loans to their existing Customers.
CreditAccess Grameen Limited covers 132 districts in the eight states (Chhattisgarh, Goa, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Odisha, Tamil Nadu,) and Puducherry. It has a network of 516 branches and 4,544 loan officers.
The Gross AUM was ₹49,746.61 million as of March 31, 2018.
The loan disbursements were ₹33,488.46 million, ₹34,026.29 million and ₹60,817.22 million, the financial years ended March 31, 2016, 2017 and 2018 respectively.
The net interest income was ₹2,487.04 million, ₹3,852.04 million and ₹5,109.85 million for the fiscal years ended March 31, 2016, 2017 and 2018 respectively.
MARKET COMPETITORS OF CreditAccess Grameen Limited:
Company faces significant competition from unorganized, small participants in the market across all the business segments in addition to other small finance banks, scheduled commercial banks and NBFCs as well as local moneylenders.
Company’s competitors include Bharat Financial Inclusion Ltd., Satin Creditcare Network Ltd., Annapurna Microfinance Pvt. Ltd., Arohan Financial Services Pvt. Ltd., and Spandana Sphoorty Financial Ltd.
Strengths of the Company-
1. Promoted by CreditAccess Asia N.V., a multinational company specializing in MSE financing.
2. Deep penetration in the rural market with 1.85 million active Customers out of the total Customer base of 2.19 million.
3. Strong operational efficiency with the lowest operating expense ratio amongst the top-eight NBFC-MFIs and SFBs for 2017, according to CRISIL.
PROMOTERS OF CreditAccess Grameen Limited :
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.
Netherlands based CAA is a company engaged in providing financial services to micro, small businesses, and self-employed people. CAA has investments in microfinance institutions in several emerging countries including India, Vietnam, Indonesia and the Philippines
- Mr. Udaya Kumar Hebbar (Designation: Managing Director and Chief Executive Officer)
- Mr. Anal Kumar Jain (Designation: Independent Director)
- Mr. R . Prabha (Designation: Independent Director)
Financials of the Company:
|(in Crores)||FY 14||FY 15||FY 16||FY 17||FY 18|
Objects of the Issue:
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.
|Issue Opens on||8th August 2018|
|Issue Closes on:.||10th August 2018|
|Issue Price||Rs.418 – 422|
|Minimum Lot||35 shares|
|Issue Size||Rs.1131 cr|
|Market Cap||Rs.6049 cr|
|Listing at||NSE & BSE|
|Equity Shares Offered (OFS)||1,18,76,485|
|Equity Shares Offered (Fresh)||1,49,28,909|
|Total Equity Shares Offered (OFS + Fresh)||2,68,05,394|
|Equity Shares Prior to the Issue||12,84,27,337|
|Equity Shares after the Issue||14,33,56,246|
|Finalization of Basis of Allotment||on or Before 16th August 2018|
|Initiation of Refunds||on or Before 20th August 2018|
|Credit of Equity Shares:||on or Before 21st August 2018|
|Listing Date:||on or Before 23rd August 201|
Check IPO Allotment Status:
Company Contact Information
New No. 49 (Old No. 725) , 46th Cross, 8th Block
Jayanagar, Next to Rajalakshmi Kalyan Mantap,
Bangalore 560 071,
Phone: +91 80 2263 7300
Fax: +91 80 2664 3433
CreditAccess Grameen IPO Registrar
Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India
CreditAccess Grameen IPO Lead Manager(s):
Credit Suisse Securities (India) Private Limited – Lead Manager
SEBI Registration No.: INM000011161
Credit Suisse Securities (India) Private Limited
9th Floor, Ceejay House,
Dr. Annie Besant Road, Worli,
Mumbai 400 018
Phone: (+91 22) 6777 3777
Fax: (+91 22) 6777 3820
ICICI Securities Limited – Lead Manager
ICICI Centre, H.T. Parekh Marg,
Mumbai 400 020Website: http://www.icicisecurities.com
Phone: (91 22) 2288 2460
Fax: (91 22) 2282 6580
IIFL Holdings Limited – Lead Manager
IIFL is the institutional equities division of India Infoline Ltd. (Bloomberg : IIFL IN), a listed multi-services financial company with a market capitalisation of US$400 million. With a team of 25 research analysts, a full-fledged sales and trading team, and an experienced investment banking team, IIFL is rapidly emerging as one of the premier institutional equities houses in India.
IIFL Holdings Limited
10th Floor, One IBC,
841, Senapati Bapat Marg, Lower Parel,
Mumbai – 400 013, Maharashtra, India
Phone: +91 22 4646 4600
Fax: +91 22 4646 4700
Kotak Mahindra Capital Company Limited – Lead Manager
Investor Grievance Id: firstname.lastname@example.org
Kotak Mahindra Capital Company Limited
Bakhtawar, 1st Floor
229 Nariman Point
Mumbai 400 021
Phone: (91 22) 6634 1100
Fax: (91 22) 2283 7517