Hot Stock: This microfinance company raises Rs 9,89,58,00,000 via public issue; scrip jumps over 4 per cent!
The stock gave multibagger returns of 115 per cent in 2 years and over 280 per cent in 5 years.
CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) has successfully raised Rs 9,89,58,00,000 public issue of secured, redeemable Non-Convertible Debentures (NCDs). The NCDs are listed on both the National Stock Exchange of India Ltd (NSE) and the Bombay Stock Exchange (BSE). The NCD Tranche II Issue had a base issue size of Rs 400 crore with an option to retain oversubscription up to Rs 600 crore aggregating up to Rs 1,000 crore, which is within the shelf limit of Rs 1,500 crore.
The NCD Tranche II Issue, which opened for subscription on August 24, 2023, was oversubscribed by 2.53 times. The company received bids worth Rs 1,012 crore, of which Rs 9,89,58,00,000 was allocated to valid applications. The issue was subscribed 2.47 times the base issue size of Rs 400 crore, with the institutional, non-institutional, HNI, and retail categories being subscribed 2.50x, 2.68x, 2.14x, and 2.46x, respectively. The issue offered monthly and cumulative interest options with an effective yield ranging from 9.48 per cent to 10.13 per cent per annum.
Commenting on the successful issue, Mr Udaya Kumar Hebbar, Managing Director, CreditAccess Grameen Ltd said, “We are pleased to witness another successful raising of domestic funds through the public NCD route. This demonstrates the confidence of various investors in our unique business model, aiming to advance the financial inclusion agenda across rural India. The issue aligns with our liability strategy which focuses on diversification in funding sources and higher share of longer tenure funds, leading to positive ALM mismatch and stronger liquidity position.”
On Monday, shares of CreditAccess Grameen Ltd surged 4.23 per cent to an intraday high of Rs 1,492.2 per share from its previous closing of Rs 1,431.60. The stock’s 52-week high is Rs 1,502.3 and its 52-week low is Rs 834.1. The company has a market cap of Rs 22,900 crore and has delivered good profit growth of 31.2 per cent CAGR over the last 5 years.
The stock gave multibagger returns of 115 per cent in 2 years and over 280 per cent in 5 years. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched mid-cap stocks for smart investing. If this interests you, do download the service details here.
Related articles
-
145 per cent returns: This multibagger micro-cap company bags new order worth Rs 280 crore from The Tinplate Company of India Ltd!
-
Stock in Focus: This small-cap civil construction company has secured an order worth Rs 556.58 crore
-
Multibagger from its 52-week low: This small-cap company secures multiple orders!
-
Spurt in Volume Stock: This small-cap company has declared a special dividend; know the record date!
-
Keep an eye on this stock, which was locked in the upper circuit on December 07
-
52-week high alert: This multibagger Semiconductor Software company got approval for DLI application for the development of a smart energy meter IC from Government of India
-
Multibagger penny stock at Rs 42 with 1,800 per cent returns: This micro-cap company imports new high-tech machinery worth Rs 1 crore to boost production and enter new markets
-
Adani Group-backed aerospace & defence company signs landmark cooperation agreement with EDGE Group
-
From Rs 0.23 to Rs 2.27 per share in just 3 years & Stock Split from Rs 10 to 1 done last year: Multibagger penny stock gains over 4 per cent on July 11; do you own it?
-
Low PE, high ROE & high ROCE stock at Rs 123 zooms over 5 per cent in just 1 day – Company from IT-Software Industry; PAT jumps over 100 per cent!
-
Multibagger penny stock at Rs 50 & FIIs bought 6 per cent stake: Board allocates 1,18,13,340 equity shares to promoters on conversion of warrants!
-
Debt-free drone company signs MoU with Chennai’s Zuppa Geo Navigation Technologies Pvt Ltd; details inside!
-
Multibagger solar product and EV chargers manufacturing stock at Rs 85 - Company signs MoU with 3ECO; details inside!
-
BNP Paribas bought 9,86,663 shares & Promoters bought over 5 per cent stake of this stock under Rs 65; Company into expansion as it acquired IT-Cube for Rs 84 crore
-
Multibagger penny stock under Rs 60 & FIIs increase stake: This FMCG company reports a 49 per cent jump in net profit of Rs 95.92 crore
-
2:1 bonus share, 2:1 stock split & 2,480 per cent multibagger returns: This electric vehicle (EV) loan provider company allots 7,65,000 shares upon conversion of warrants
-
Heavy Buying Alert: Education services stock soars over 10 per cent; Company likely to report strong earnings; details inside!
-
Rs 4,700 crore order book & FIIs increase stake: Heavy buying in this multibagger railway telecom stock; Bags order from Central Warehousing Corporation 3 days ago!
-
Heavy Buying Alert: Small-cap gems & jewellery stock was locked in 10 per cent upper circuit on May 14
-
1:1 bonus share and promoter & FIIs increase stake: This steel tube manufacturer company has achieved the highest ever revenue of Rs 2,040.23 crore!