CreditAccess Grameen gains on inking historic syndicated social loan facility of up to $200 million
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CreditAccess Grameen is currently trading at Rs. 1343.00, up by 17.85 points or 1.35% from its previous closing of Rs. 1325.15 on the BSE.
The scrip opened at Rs. 1325.15 and has touched a high and low of Rs. 1376.95 and Rs. 1325.15 respectively. So far 6336 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1397.65 on 23-Jun-2023 and a 52 week low of Rs. 834.10 on 31-Jan-2023.
Last one week high and low of the scrip stood at Rs. 1397.65 and Rs. 1260.85 respectively. The current market cap of the company is Rs. 21288.33 crore.
The promoters holding in the company stood at 73.68%, while Institutions and Non-Institutions held 21.95% and 4.37% respectively.
CreditAccess Grameen has signed a historic syndicated social loan facility of up to $200 million, qualifying as ECB under the automatic route of the RBI. The company has received $160 million in commitments to date, along with a green-shoe option to raise an additional $40 million, exercisable over 120 days from the date of signing of the facility agreement. The Company has currently drawn $100 million, and the remaining commitments shall be drawn over the coming months.
This marks the first social ECB loan in the Indian microfinance industry and the fourth from India. The social loan shall abide by CA Grameen’s Social Loan Framework which aligns with the Social Loan Principles 2023, stipulating the use of proceeds, social development goals and governance, according to the Loan Market Association. Sustainalytics has provided a second-party opinion on CA Grameen’s Social Loan Framework, considering it credible and impactful.
CreditAccess Grameen is a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India.
