CreditAccess Grameen IPO – Review, Allotment Status, Price, Date & more

CreditAccess Grameen IPO is one of the latest IPO in the country. This IPO was drafted on Feb, 8th 2018. In this Article, we will do a detailed Credit Access Grameen IPO IPO Review along with in-depth analysis of their IPO object, IPO allotment status, Company overview, Company financials, Price band, Issue Details, Issue Date & more.


CreditAccess Grameen IPO Review & Ratings

CreditAccess Grameen IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.1/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.8/10
Competitive Edge8.0/10
Financial Statements8.4/10
Popularity Index7.8/10
Promoters Reputation7.9/10
Retail Appetite7.7/10
Top Brokers Review7.7/10
Overall Ratings7.9/10
Star Ratings★★★★☆

Summary of Credit Access Grameen IPO or Grameen Koota IPO

Creditaccess grameen ipoThe Credit Access Grameen Limited popularly known as Grameen Koota is a microfinance firm that is headquartered in Bengaluru. The firm has filed draft papers with SEBI for raising an Initial Public Offering of 1500 Crores. The firm had planned to go public last September.

There are about fresh shares of 900 crores that are being raised. The other shares are sold by the investors of the firm and the promoters of the company. This is in order to develop the company. The firm holds the second place in the list of largest microfinance firms in India.

When the Bharti Finance joins with Induslnd Bank for a Planned Merger that is set to happen soon, this particular IPO raising from Credit Access Grameen would prove to be very helpful for the firm. The IPO would boost their capital assets and is much needed in order to meet the rising demands in the near future.

The stocks would be listed on both NSE as well as BSE. ICICI Securities Limited, Credit Suisse Securities (India) Private Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited are the Lead Managers or Underwriters of the IPO of the company.


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Credit Access Grameen IPO or Grameen Koota IPO Date

The IPO date has not been released yet.

Credit Access Grameen IPO or Grameen Koota IPO Subscription

 Subscription
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The IPO issue data has not been announced yet. Once the IPO date has been issued, the subscription details will be updated regularly.

Credit Access Grameen IPO Allotment Status

Since the issue date has not been fixed yet, the Allotment Status is not out. The Allotment status will be announced about 3-4 weeks of the IPO issue date.

Credit Access Grameen Limited IPO Price Band

The price band of the IPO will be known only after the offer price of the IPO issues is known. One can know about the price band of the IPO in about a week.

The face value of the equity shares released by the company is Rs 10 each. The offer price is calculated [.] times the face value at the Floor Price. The Offer Price can also be calculated [.] times the face value of the Cap price of the Price band.

Credit Access Grameen or Grameen Kota IPO Issue Size

As per the market news & draft red herring prospectus, Credit Access Grameen Limited IPO issue size is of INR 1500 crores.

Credit Access Grameen Limited IPO Equity Shares Offerings

The equity shares will be listed after the issues get approval from the SEBI.


Credit Access Grameen Limited – Company Overview

The Credit Access Grameen Limited is a microfinance company that is situated in the IT city of Bengaluru. The company is aimed at providing financial aid to the poor households from the rural parts of the country. Women are given special preference while granting financial help. The company is registered with the Reserve Bank of India.

Key members of the Company

  • Udaya Kumar Hebbar (MD & CEO)
  • Anal Kumar Jain (Independent Director)
  • R. Prabha (Independent Director)
  • George Joseph (Independent Director)

Competitive Strengths of the Company

  • Customer-centric business model resulting in high customer retention
  • Deep penetration in Rural Areas characterized by low competition and built through contiguous district based expansion
  • Robust customer selection and risk management policies resulting in healthy asset quality
  • Strong track record of financial performance and operating efficiency
  • Stable management team with extensive domain experience
  • Diversified sources of borrowings and effective asset-liability management

Strategies of the Company

  • Continued focus on the customers from Rural Areas
  • Expansion of branch network
  • Leverage existing capabilities and strengths to diversify product and service offerings
  • Focus on optimizing operating costs and improving operational efficiencies

CreditAccess Grameen Limited – Financial Statement

Have a look at the Financial Stability of the company before you invest in it.

Assets of the Company

Assets (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Non-Current Asset7,1368,3303,5642,0971,356
Current Asset28,50519,74913,7048,4844,079
Total Asset35,64128,08017,26810,5815,435

Revenue and PAT of the Company

Revenue & Profits (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Total Revenue7093466728141478892
Profit after Tax (PAT)80383248716679

Earnings per Equity Share

Earning per Equity Share (in INR)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Basic10.0111.419.154.183.02
Diluted9.8811.239.014.183.02

CreditAccess Grameen Limited has seen massive growth in their PAT in last 5 years. This IPO can become a winner for Investors as the company is looking on a very good growth spree. Must buy this IPO.


Credit Access Grameen Limited – Promoter

CAA (Credit Access Asia) is the Promoter of the Company. The promoter holds the majority of the equity shares of the firm.

Interest of Promoters

Interest of Promoters in the promotion of the company

The promoters of the company are interested in the promotion of the company and they are bound to pay the dividends of the equity shares they hold in the market.

Interest of Promoters in the property of the company

The promoters of the company are not interested in any of the properties that are held by the company exactly two years before the drafting of Herring Prospectus. The promoter is also not interested in the acquisition of land, supply of machinery and construction of the building of the company.

Interest of Promoters in the intellectual property of the company

The promoter does not have any interest in the intellectual property of the company.


CreditAccess Grameen IPO Offer Details or Issue Details

Offer of Equity Shares Up to [●] Equity Shares, aggregating up to ₹ [●] million
of which
Fresh IssueUp to [●] Equity Shares, aggregating up to ₹ 9,000 million
Offer for SaleUp to 10,281,317 Equity Shares, aggregating up to ₹ [●] million
The Offer consists of:
A) QIB PortionNot more than [●] Equity Shares
of which:
Anchor Investor PortionNot more than [●] Equity Shares
Net QIB Portion (assuming the Anchor Investor Portion is fully subscribed)[●] Equity Shares
of which:
Mutual Fund Portion[●] Equity Shares
Balance for all QIBs including Mutual Funds[●] Equity Shares
B) Non-Institutional Portion Not less than [●] Equity Shares
C) Retail Portion Not less than[●] Equity Shares
Pre and post-Offer Equity Shares
Equity Shares outstanding prior to the Offer128,213,837 Equity Shares
Equity Shares outstanding after the Offer [●] Equity Shares

According to Draft Red herring Prospectus & Market news, the company is going to issue 1 Crore shares in the market with an IPO issue size of INR 900 Crores


CreditAccess Grameen IPO Issue Object

Following are the various Objective of IPO issue:

  • Company proposes to utilise the Net Proceeds from the Fresh Issue towards augmenting its capital base to meet future capital requirements.
  • Company expects to receive the benefits of listing of the Equity Shares on the Stock Exchanges
  • IPO will help in enhancement of our Company’s brand name and creation of a public market for the Equity Shares in India.
  • The main objects clause as set out in the Memorandum of Association enables the Company to undertake its existing activities and the activities for which funds are being raised by our Company through the Fresh Issue.

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Credit Access Grameen IPO – Basis of Offer Price

The Offer Price will be decided by the existing shareholders of the company after getting the details about the demand for their services in the market. The promoters and the shareholders together decide the offer price of the equity shares that are planned to be listed.

The offering is done after the consultation with BRLMs’. The face value of the equity shares released by the company is Rs 10 each. The offer price is calculated [.] times the face value at the Floor Price. The Offer Price can also be calculated[.] times the face value of the Cap price of the Price band.

Qualitative Factors

The company believes that the following are the core strengths which enable them to establish a household name for themselves in the market.

  • The main goal of customer retention that is done by adopting a customer-centric business model
  • By the building of contiguous district expansion, the deep penetration in the rural areas is characterized according to the competition in law
  • The customer selection that is robust in nature. The management of healthy assets by following the policy of risk management
  • Maintaining a good track record of financial performance and operational efficiency
  • The management team with excellent domain experience
  • The asset-liability management and the possession of a diversified lenders

Quantitative Factors

Some of the quantitative factors which may form the basis for computing the Offer Price are as follows:

  • Basic and Diluted Earnings Per Share (“EPS”)
  • Price/ Earning (“P/ E”) ratio in relation to Price Band of ₹ [●] to ₹ [●] per Equity Share
  • Return on Net Worth (“RoNW”)
  • Minimum Return on Increased Net Worth after Offer needed to maintain Pre-Offer EPS
  • Net Asset Value (“NAV”) per Equity Share
  • Price / Book (P/ B) Ratio
  • Comparison with Listed Industry Peers
  • The Offer Price will be [●] times of the face value of the Equity Shares

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Credit Access Grameen Limited IPO Lead Managers

Lead Managers
ICICI Securities Limited
Credit Suisse Securities (India) Private Limited
IIFL Holdings Limited
Kotak Mahindra Capital Company Limited

Credit Access Grameen IPO Registrar to the Offer

Registrar of the Offer
Karvy Computershare Private Limited

CreditAccess Grameen IPO Review by Top 10 Stock Brokers

Here is the ratings & review by top stock brokers on major 5 parameters:

Top Stock Brokers ReviewCompany Repu-tationCompe-titive EdgeFinan-cial State-mentPopu-larity IndexPromo-ters Repu-tation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

CreditAccess Grameen or Grameen Koota IPO Grey Market Premium

The Credit Access Grameen Limited IPO Grey Market Premium will be announced two weeks before the price of the issue is announced.


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CreditAccess Grameen IPO News

News 1 – BRIEF-India’s CreditAccess Grameen Files For IPO


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