CreditAccess Grameen trades higher on getting nod to raise Rs 5,000 crore via debt
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CreditAccess Grameen is currently trading at Rs. 734.15, up by 6.50 points or 0.89% from its previous closing of Rs. 727.65 on the BSE.
The scrip opened at Rs. 739.00 and has touched a high and low of Rs. 749.95 and Rs. 731.00 respectively. So far 4625 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 807.55 on 15-Jun-2021 and a 52 week low of Rs. 495.30 on 01-Dec-2021.
Last one week high and low of the scrip stood at Rs. 771.75 and Rs. 680.00 respectively. The current market cap of the company is Rs. 11442.33 crore.
The promoters holding in the company stood at 73.89%, while Institutions and Non-Institutions held 18.88% and 7.23% respectively.
CreditAccess Grameen has received approval from its board to raise up to Rs 5,000 crore through debt securities. The said amount is proposed to be raised by the issuance of securities, including bonds, debentures, non-convertible debentures (NCDs) and commercial papers of any other marketable instruments in one or more tranches on private placement or any other mode.
Besides, the company's board also gave its approval for the issuance of secured, rupee denominated, non-convertible bonds aggregating up to an amount equal to the Indian rupee equivalent of $7.4 million to WaterCredit Investment Fund 3, LP. These are rupee-denominated bonds, popularly known as masala bonds.
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.
