Shares of non-banking financial company-micro finance institution (NBFC-MFI) CreditAccess Grameen zoomed over 12% to Rs 1,560 in Monday’s trade on BSE after the firm reported a 98% year-on-year (YoY) jump in net profit at Rs 347 crore on the back of strong business growth. The net profit was Rs 175 crore in the year-ago quarter. … Read more
Bengaluru-based CreditAccess Grameen‘s redeemable Non-Convertible Debentures (NCD) tranche II will open for subscription on Thursday, August 24. The coupon rate is up to 9.70% p.a. with effective yield up to 10.13% p.a., the company said in its filing to the exchanges. The issue ends on September 6, 2023. The base size of the NCD issue … Read more
India’s largest NBFC-MFI CreditAccess Grameen is for the first time planning to tap the retail bond market to raise up to Rs 1,500 crore as it looks to diversify its funding source and reduce the on bank borrowing. The retail bonds – likely to be for three- to five-years tenure – may bear interest rates … Read more