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 the third largest NBFC-MFI in the 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% of the total JLG loan portfolio.
Presently the company covers 132 districts in 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, for 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. Deep penetration in the rural market with 1.85 million active Customers out of the total Customer
base of 2.19 million.
3. Strong operational efficiency with the lowest operating expense ratio amongst the top-eight NBFC-MFIs and SFBs for 2017, according to CRISIL
Objects of the Issue
1. The Offer comprises the Fresh Issue and the Offer for Sale.
2. The Company will not receive any proceeds from the Offer for Sale.
3. The net Proceeds from the Fresh Issue will be utilized towards augmenting the capital base to meet future capital requirements of the company which are expected to arise out of growth in the Company’s assets, primarily the Company’s loans and advances and other investments.
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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