The IPO of CreditAccess Grameen Limited opens on August 8th and closes on August 10th. The company is offering shares in the price band of Rs 418 to Rs 422.
About CreditAccess Grameen Limited
CreditAccess Grameen Limited is a microfinance institution providing a wide range of financial services to the rural poor and low-income households, particularly women. CAGL is the third
largest NBFC MFI in India in terms of gross loan portfolio as of March 31, 2017.
Purpose of the issue
The company intends to use the proceeds of the issue to augment its capital base.
Shareholding pattern
| Shareholders | Pre-issue | Post-issue |
|---|---|---|
| Promoters | 98.90% | 80.30% |
| Public | 1.10% | 19.70% |
| Total | 100 | 100 |
Issue details
The issue consists of a fresh offer aggregating up to Rs 630 crores and offer for sale (OFS) of 11,876,485 shares.
IPO schedule
Issue opens - August 8th
Issue close - August 10th
Face value - Rs 10
Issue size - Rs 1131crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 35 shares
Basis of allotment - August 16
Refunds - August 20
Credit of shares - August 21
Listing - August 23
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