loader
CREDITACCESS GRAMEEN LIMITED NCD
Issue Size (Net)
up to Rs.1000 Crs
Credit Ratings
IND AA-/Stable by India Ratings & Research Private Limited
Issue Opening Date
August 24, 2023
Issue Closing Date
September 06, 2023
Specific Terms for Each Series of NCDs
Series I II III IV V VI VII VIII
Frequency of Interest Payment Monthly Cumulative Monthly Cumulative Monthly Cumulative Monthly Cumulative
Tenor 24 Months 24 Months 33 Months 33 Months 50 Months 50 Months 60 Months 60 Months
Coupon (% per annum) for NCD Holders in all Categories of Investors 9.10% NA 9.25% NA 9.40% NA 9.70% NA
Effective Yield (% per annum) for NCD Holders in all Categories of Investors 9.48% 9.48% 9.64% 9.64% 9.81% 9.81% 10.13% 10.13%
Redemption Amount (Rs. / NCD) on Maturity for NCD Holders in all Categories of Investors Rs. 1000 Rs. 1198.82 Rs. 1,000 Rs. 1288.12 Rs. 1,000 Rs. 1477.11 Rs 1000 Rs 1621.19
Put/Call Option NA
1.Company Information

CreditAccess Grameen Limited (“CA Grameen”) is a leading Indian micro-finance institution headquartered in Bengaluru, focused on providing joint liability group loans and micro-loans primarily to women customers predominantly in rural areas in India. According to MicroFinance Institutions Network, India, CA Grameen was the largest NBFC- MFI in India in terms of the gross loan portfolio as of March 2022.ii. As of September 30, 2022, CA Grameen had presence in 333 districts in the 14 states (Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Kerala, Odisha, Chhattisgarh, Goa, Bihar, Jharkhand, Gujarat, Rajasthan, Uttar Pradesh and West Bengal) and one union territory (Puducherry) in India through 1,684 branches and 16,018 employees, serving an active consolidated customer base of 38.0 lakhs, as of September 30, 2022.iii. CA Grameen’s Gross AUM (consolidated) was Rs. 16,539.11 crore as of September 30, 2022.iv. CA Grameen offers a diverse suite of lending products that cater to the critical needs of the customers throughout their life cycle and includes income generation, health care, education, festival celebration, home improvement, water, and sanitation. CA Grameen focuses predominantly on customers in rural areas in India, who largely lack access to the formal banking sector and present a latent opportunity for offering micro- loans.vii. CA Grameen’s consolidated operations are well-diversified at the district level, with no single district contributing more than 4% to their consolidated Gross AUM as of September 30, 2022. Further, out of a total of 333 districts where the company had branches as of September 30, 2022, around 92% of these districts individually represent less than 1% of the Company’s consolidated Gross AUM.

2. Ratings

The NCDs proposed to be issued under the Issue have been rated IND AA-/Stable for an amount of Rs. 1,500 crores by India Ratings vide their rating letter dated August 04, 2022 and further revalidated vide letter dated September 8, 2022.

3. STRENGTHS

i. Customer-centric business model resulting in high customer retention.

ii. Deep penetration in Rural areas built through calibrated, contiguous district based expansion

iii. Robust customer selection and risk management policies resulting in healthy asset quality

iv. Strong track record of financial performance and operating efficiency

v. Professional management team with extensive domain experience

4.CreditAccess Grameen NCD 2023 Registrar

Kfin Technologies Limited

KFintech, Tower-B, Plot No 31 & 32,

Financial District, Nanakramguda, Gachibowli,

Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000

Email: cagl.ncdipo@kfintech.com

Website:Website: Website: Website:Website: https://kosmic.kfintech.com/ipostatus/

Key operating and financial metrics (on a standalone basis)

Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Net Fixed assets
26.15
18.37
24.19
Current assets
8793.97
8106.64
5958.36
Non-current assets
5974.98
4571.78
4679.11
Total assets
14739.95
14795.1
12696.79
10661.66
Non-Current Liabilities 5 (including maturities of long term borrowings and short term borrowings)
Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Financial Liabilities (borrowings, trade payables, and other financial liabilities)
4901.59
4137.49
3407.42
Provisions
13.7
11.16
8.49
Current Liabilities 4 (including maturities of long-term borrowings)
Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Financial Liabilities (borrowings, trade payables, and other financial liabilities)
5915.9
4895.12
4560.05
Other non-financial liabilities
14.09
11.14
9.69
9.09
Provisions
28.09
11.41
8.52
7.53
Current tax liabilities (net)
1.56
Equity (including other equity)
4332.21
3939.8
3634.81
2669.08
Total equity and liabilities
14739.95
14795.1
12696.79
10661.66
Profit and Loss
Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Total revenue
1293.47
2291.2
2031.14
1684.36
From operations
1292.19
2289.39
2027.79
1683.49
Other income
1.28
1.81
3.35
0.87
Total Expenses
1778.56
1836.85
1233.47
Exceptional Items
-
0
0
0
Profit / (Loss) before tax
385.9
512.64
194.29
450.89
Profit / (Loss) after tax
291.29
382.14
142.39
327.5
Other comprehensive income
3.6
-85.64
32.3
-27.33
Total comprehensive income
294.89
296.5
174.69
300.17
Cash Flow
Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Net cash used in/generated from operating activities
-285.34
-1968.56
-364.32
-2301.95
Net cash used in / generated from investing activities
-297.73
-189.25
-31.67
-635.82
Net cash used in financing activities
-433.12
1684.38
1705.96
2928.66
Add : Opening cash and cash equivalents as at the beginning of the year
1401.16
1874.59
564.62
573.73
Cash and cash equivalents
411.97
1401.16
1874.59
564.62
Additional information
Particulars
September 30, 2022 (Standalone)
Fiscal 2022
Fiscal 2021
Fiscal 2020
Net worth
4276.85
3979.68
3588.8
2655.2
Cash and Cash Equivalents
411.97
1401.16
1874.59
564.62
Assets under Management
-
13731.72
11341.11
9896.49
Off Balance Sheets Assets
1162.25
1101.4
413.15
Total Debts to Total assets
68.29%
70.87%
69.16%
73.37%
Debt Service Coverage Ratios
NA
NA
NA
Interest Income
2124.79
1877.13
1617.19
Interest Expense
788.13
740.07
571.03
Interest service coverage ratio
NA
NA
NA
Provisioning & Write-Offs
449.44
646.9
238.98
Gross Stage 3 (%)
1.73%
3.16%
4.39%
1.51%
Net Stage 3 (%)
0.47%
0.95%
1.40%
0.37%
Tier I Capital Adequacy Ratio (%)
28.24%
25.87%
30.50%
22.30%
Tier II Capital Adequacy Ratio (%)
0.72%
0.67%
1.25%
1.30%
Issuer CreditAccess Grameen Limited
Instrument Dematerialized form
Issue Opens on 24 August, 2023
Issue Closes on 06 September, 2023
Issue Size Public issue by the Company of secured redeemable non-convertible debentures of face value of Rs.1,000 each (“NCDs”) for an amount up to Rs.400 Crs (“Base Issue Size”) with a green shoe option of Rs. Rs.600 Crs aggregating up to Rs.1000 Crs
Issue Price / Face Value 1,000 per NCD
Minimum Application Rs. 10,000 (10 NCD) collectively across all Options
Credit Rating “IND AA-/Stable by India Ratings & Research Private Limited
Registrar Kfin Technologies Limited
Basis of allotment First come First serve
Listing The NCDs are proposed to be listed on BSE within 6 Working Days from the respective Tranche Issue Closing Date.
Allocation Ratio QIB:25%, Corporate:30%, HNI:20% and Retail Individual : 25%
Specific Terms for Each Series of NCDs
Series I II III IV V VI VII VIII
Frequency of Interest Payment Monthly Cumulative Monthly Cumulative Monthly Cumulative Monthly Cumulative
Tenor 24 Months 24 Months 32 Months 33 Months 50 Months 50 Months 60 Months 60 Months
Coupon (% per annum) for NCD Holders in all Categories of Investors 9.10% NA 9.25% NA 9.40 NA 9.70% NA
Effective Yield (% per annum) for NCD Holders in all Categories of Investors 9.48% 9.48% 9.64% 9.64% 9.81% 9.81% 10.13% 10.13%
Redemption Amount (Rs. / NCD) on Maturity for NCD Holders in all Categories of Investors Rs. 1,000 Rs. 1198.82 Rs. 1,000 Rs. 1288.12 Rs. 1,000 Rs. 1477.11 Rs 1000 Rs. 1621.19
Put/Call Option NA
Prospectus File

RR Investors Capital Services Pvt. Ltd AMFI-registered Mutual Fund Distributor

Head Office - 4th floor, Indraprakash Building 21, Barakhamba Road, New Delhi – 110001

callLandline Number
+91 11-4444-1111

Customer Care
+91 9350316010

Security
  • SSL
Follow Us

SEBI Registration No: NSE Cash: INB231219636 | SEBI Registration No: NSE Derivative: INF231219636 | SEBI Registration No: BSE Cash: INB011219632 | SEBI Registration No: MCX-SX: INE261219636 | SEBI Registration No: NSE Currency: INE231219636 | SEBI Registration No: USE: INE271219631 | SEBI Registration No: CDSL: IN-DP-CDSL-3242005 | NCDEX Membership No: 00635 | MCX Membership No: 28850 | NSEL Membership No: 10650 | RBI Registration No: NBFC: N-14.03215 | IRDA Registration Number : CB-066/03 | AMFI Registration No : ARN -0032| SEBI Registration No: Merchant Banker: INM000007508


* Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.


© 2022 RR Investors Capital Services Pvt. Ltd | All Rights Reserved.