Bookbuilding IPO | ₹1,131 Cr | Listed at BSE, NSE | Wed, Aug 8, 2018 - Fri, Aug 10, 2018
CreditAccess Grameen IPO is a book build issue of ₹1,131.19 crores. The issue is a combination of fresh issue of 1.49 crore shares aggregating to ₹630.00 crores and offer for sale of 1.19 crore shares aggregating to ₹501.19 crores.
CreditAccess Grameen IPO bidding started from Aug 8, 2018 and ended on Aug 10, 2018. The allotment for CreditAccess Grameen IPO was finalized on Aug 16, 2018. The shares got listed on BSE, NSE on Aug 23, 2018.
CreditAccess Grameen IPO price band is set at ₹422 per share. The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,770 (35 shares) (based on upper price). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,06,780, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,04,360.
Credit Suisse Securities (India) Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to CreditAccess Grameen IPO RHP for detailed Information.
IPO Open
Wed, Aug 8, 2018
IPO Close
Fri, Aug 10, 2018
Issue Price
₹422 per share
Market Cap (Pre-IPO)
₹6,049.63 Cr
| IPO Date | 8 to 10 Aug, 2018 |
| Listed on | Thu, Aug 23, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹418 to ₹422 |
| Issue Price | ₹422 per share |
| Lot Size | 35 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,68,05,394 shares (agg. up to ₹1,131 Cr) |
| Fresh Issue | 1,49,28,909 shares (agg. up to ₹630 Cr) |
| Offer for Sale | 1,18,76,485 shares of ₹10 (agg. up to ₹501 Cr) |
| Share Holding Pre Issue | 12,84,27,337 shares |
| Share Holding Post Issue | 14,33,56,246 shares |
| BSE Script Code / NSE Symbol | 541770 / CREDITACC |
| ISIN | INE741K01010 |
CreditAccess Grameen IPO comprises a total issue size of 2,68,05,394 shares. Out of which, 1,34,02,696 (50.00%) are allocated to QIB, 40,20,810 (15.00%) allocated to NII 93,81,888 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 1,34,02,696 | 50.00% | NA |
| − Anchor Investor Shares Offered | 80,41,617 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 53,61,079 | 20.00% | NA |
| NII (HNI) Shares Offered | 40,20,810 | 15.00% | NA |
| Retail Shares Offered | 93,81,888 | 35.00% | 2,68,053 |
| Total Shares Offered | 2,68,05,394 | 100.00% |
Investors can bid for a minimum of 35 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,770 |
| Retail (Max) | 13 | 455 | ₹1,92,010 |
| S-HNI (Min) | 14 | 490 | ₹2,06,780 |
| S-HNI (Max) | 67 | 2,345 | ₹9,89,590 |
| B-HNI (Min) | 68 | 2,380 | ₹10,04,360 |
CreditAccess Grameen IPO raises ₹339.36 crore from anchor investors. CreditAccess Grameen IPO Anchor bid date is August 7, 2018.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 7, 2018 |
| Shares Offered | 80,41,617 |
| Anchor Portion (₹ Cr.) | 339.36 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 15, 2018 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 14, 2018 |
Incorporated in 1991, Bengaluru based CreditAccess Grameen Limited is a company engaged in providing micro-loans to women in Rural Areas in India. According to CRISIL Research,as of March 31, 2017, the company is third largest NBFC-MFI in gross loan portfolio in the country.
The company primarily focuses on providing income generating loans to women with low annual household income in Rural Areas. It also provides other types of loans for family welfare, home improvement and emergency funds.
The loans are provided primarily under the joint liability group ("JLG") model. Income generation loans comprise 87.02% the total JLG loan portfolio.
Presently the company 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 Rs 49,746.61 million as of March 31, 2018.
The loan disbursements were Rs 33,488.46 million, Rs 34,026.29 million and Rs 60,817.22 million, the financial years ended March 31, 2016, 2017 and 2018 respectively.
The net interest income was Rs 2,487.04 million, Rs 3,852.04 million and Rs 5,109.85 million for the fiscal years ended March 31, 2016, 2017 and 2018 respectively.
Strengths of the Company-
1. Promoted by CreditAccess Asia N.V., a multinational company specializing in MSE financing.
2. Strong financial performance with Gross AUM growth at a CAGR of 57.45% from Rs 8,095.22 million in March 31, 2014 to Rs 49,746.61
million in March 31, 2018.
3. Deep penetration in the rural market with 1.85 million active Customers out of the total Customer base of 2.19 million. The company's 422 out of 516 branches are categorized as rural branches.
4. Well-diversified operations with no single district contributing more than 5% of Gross AUM
5. Strong operational efficiency with the lowest operating expense ratio amongst the top-eight NBFC-MFIs and SFBs for 2017, according to CRISIL
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting its capital base to meet future capital requirements | 602.60 |
The CreditAccess Grameen IPO is subscribed 2.22 times on August 10, 2018 6:29:03 PM (Day 3). The public issue subscribed 0.87 times in the retail category, 5.52 times in the QIB category, and 0.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 5.52 | 53,55,555 | 2,95,77,065 |
| NII | 0.98 | 40,42,239 | 39,44,395 |
| Retail | 0.87 | 94,31,890 | 82,11,210 |
| Total | 2.22 | 1,88,29,684 | 4,17,32,670 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to members of the Syndicate (including underwriting commission, brokerage and selling commission), Commission and processing fees for SCSBs, Brokerage and selling commission for Registered Brokers, RTAs and CDPs | 30.87 |
| 2 | Fees payable to Registrar to the Offer | 0.11 |
| 3 | Others: Listing fees, SEBI filing fees, book-building software fees, Printing and stationary expenses, Fees payable to Monitoring Agency, Advertising and marketing for the Offer, Miscellaneous | 18.22 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹422.00 | ₹422.00 |
| Open | ₹385.00 | ₹390.00 |
| Low | ₹385.00 | ₹385.00 |
| High | ₹423.30 | ₹426.90 |
| Last Trade | ₹420.80 | ₹422.05 |
Lead Manager Reports
CreditAccess Grameen IPO is a main-board IPO of 2,68,05,394 equity shares of the face value of ₹10 aggregating up to ₹1,131 Crores. The issue is priced at ₹422 per share. The minimum order quantity is 35.
The IPO opens on Wed, Aug 8, 2018, and closes on Fri, Aug 10, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in CreditAccess Grameen IPO using UPI as a payment gateway. Zerodha customers can apply in CreditAccess Grameen IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in CreditAccess Grameen IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The CreditAccess Grameen IPO opens on Wed, Aug 8, 2018 and closes on Fri, Aug 10, 2018.
CreditAccess Grameen IPO lot size is 35, and the minimum amount required for application is ₹14,770.
You can apply in CreditAccess Grameen IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for CreditAccess Grameen IPO will be done on Thursday, August 16, 2018, and the allotted shares will be credited to your demat account by Tue, Aug 21, 2018. Check the CreditAccess Grameen IPO allotment status.
The CreditAccess Grameen IPO listing date is on Thu, Aug 23, 2018.
