CreditAccess Grameen Koota Limited IPO is opening for grab from 08 August 2018 to 10 August 2018 in the price band of Rs. 418-422 offering Fresh Issue of up To 14,928,910 Equity Shares Aggregating Up To ₹ 630 Cr and OFS of 11,876,485 Equity Shares by Promoters Creditaccess Asia N.V. aggregating Up To ₹ 501 Cr.
They are a leading Indian microfinance institution headquartered in Bangalore, focused on providing microloans to women customers predominantly in Rural Areas in India who largely lack access to the formal banking sector and present a latent opportunity for offering microloans.According to CRISIL Research, they were the third largest NBFC-MFI in India in terms of the gross loan portfolio as of March 31, 2017.
They cover 112 districts in the five states of Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh and Madhya Pradesh in India through 440 Branches and 3,783 loan officers.
The shares are offered at P/B of 3x which is a little bit on the higher side.
The peers as per DRHP are Bharat Financial Inclusion, Satin Creditcare Network, Au Small Finance Bank, Ujjivan Financial Services, Equitas Holdings, Shriram Transport Finance Co., Mahindra & Mahindra Financial Services
The Gross NPA ending 31st March 2018 stands at 1.95% with a loan book of 4025 Cr and NIM at 12.65%.