CreditAccess Grameen IPO opens today. Should you subscribe?

The offer comprises 14.9 million shares as a fresh issue and 11.9 million shares as offer for sale (OFS)

Focused on providing micro-loans to women customers mostly in rural India, CreditAccess Grameen Limited (CAGL), according to CRISIL Research, is the third largest NBFC-MFI in the country in terms of gross loan portfolio as of March 31, 2017. It has a network of 516 branches spread across 132 districts in eight states. Karnataka and Maharashtra contribute to around 86% of its overall loan book. As on Mar18, it has a loan book of Rs 50 billion spread across 2.2 million clients.

The company is now tapping the market with its initial public offer that opens today. The offer comprises 14.9