CreditAccess Grameen rose 2.45% to Rs 706.25 on BSE after the company's board of directors approved a proposal for fund raising by way of issue of equity shares of Rs 1,000 crore.
The microfinance company on Thursday announced that the company's board has approved issue of equity through permissible mode including private offerings, follow on public offering, preferential issue and/or qualified institutions placement (QIP), or any combination thereof up to an amount not exceeding Rs 1000 crore.
The company reported 24.9% drop in consolidated net profit to Rs 72 crore on 64.6% rise in total income to Rs 619.87 crore in Q1 June 2020 over Q1 June 2019.
CreditAccess Grameen is a microfinance institution focused on providing micro-loans to women customers predominantly in rural areas across India. The company is now operating in 230 districts in the 13 states and one union territory in the country through 929 branches.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app