CreditAccess Grameen moves up on getting nod to raise upto Rs 1,000 crore through NCDs
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CreditAccess Grameen is currently trading at Rs. 1376.65, up by 7.60 points or 0.56% from its previous closing of Rs. 1369.05 on the BSE.
The scrip opened at Rs. 1370.05 and has touched a high and low of Rs. 1398.00 and Rs. 1370.05 respectively. So far 1291 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1502.30 on 01-Aug-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. 1442.40 and Rs. 1365.05 respectively. The current market cap of the company is Rs. 21778.91 crore.
The promoters holding in the company stood at 66.77%, while Institutions and Non-Institutions held 21.47% and 11.77% respectively.
CreditAccess Grameen has received approval for the Public Issue of Secured Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each for an amount of Rs 400 crore (Base Issue Size) with a Green Shoe Option of up to Rs 600 crore, amounting to Rs 1,000 crore (Tranche II Issue Limit) (Tranche II Issue) which is within the shelf limit of Rs 1,500 crore (Shelf Limit). The Executive, Borrowings and Investment Committee of the Board of Directors of the Company in its meeting held on August 18, 2023, has considered and approved the same.
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.
