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The company said that the public issuance of debentures is within the shelf limit of Rs 1,500 crore.
The secured rated, listed, redeemable NCDs have a face value of Rs 1,000 each. The issue will open on 24 August 2023 and will close on 6 September 2023.
These debentures are proposed to be listed on National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).
Bengaluru-based CreditAccess Grameen is a microfinance institution, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating in 352 districts in 14 states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and West Bengal) and one union territory (Puducherry) in India through 1,786 branches.
The company's net profit surged 151.5% to Rs 348.46 crore on 53.9% jump in total income to Rs 1,170.72 crore in Q1 FY24 over Q1 FY23.
The scrip slipped 2.48% to end at Rs 1,369.05 on Friday, 18 August 2023.
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