Creditaccess Grameen Ipo
CreditAccess Grameen eyes 15% retail finance share by FY28 amid MFI stress
The lender plans to raise the retail loan share from 6% to 15% by FY28, with a shift to secured lending like housing and business loans amid pressure on microfinance
 "CreditAccess Grameen eyes 15% retail finance share by FY28 amid MFI stress")
CreditAccess Grameen hits all-time high, surges 12% in two days
In July-September quarter, the company reported a healthy net interest income growth of 26 per cent at Rs 251 crore, driven by strong AUM growth of 36 per cent YoY.
 "CreditAccess Grameen hits all-time high, surges 12% in two days")
CreditAccess IPO gets tepid response, garners just 2.2 times subscription
Bengaluru-based CreditAccess Grameen's initial public offering (IPO) got a lukewarm response from investors with the offering garnering just 2.2 times subscription. The institutional investor portion of the IPO was subscribed five times, while the wealthy and retail investor remained unsubscribed. CreditAccess's IPO comprises of fresh equity issuance worth Rs 6.3 billion and secondary share sale worth Rs 5 billion. The price band for the IPO was Rs 418 to Rs 422 per share. At the top-end of the price band, CreditAccess will have post-issue market capitaliation of Rs 60.5 billion. The IPO was priced at nearly three times its 2017-18 book value (post-issue basis) and nearly 35 times its 2017-18 earnings. The IPO closes on Friday. "The near term looks great for Grameen, thanks to huge capital infusion and strong growth. However, the long term needs hard thinking - demonetisation has illustrated that even well run MFIs can lose 5 per cent to 10 per cent of assets in crisis," said Antique .
 "CreditAccess IPO gets tepid response, garners just 2.2 times subscription")
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)
 "CreditAccess Grameen IPO opens today. Should you subscribe?")
