1. Company Information
i. 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.
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
"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.
iii. The NCDs are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”). For the purpose of the Issue, NSE shall be the Designated Stock Exchange.
PUBLIC ISSUE OF SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF ₹1,000 EACH, (“NCDs” OR “DEBENTURES”), FOR AN AMOUNT UPTO ₹250 CRORE (“BASE ISSUE SIZE”) WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO ₹250 CRORES, AGGREGATING UP TO ₹ 500 CRORES ("TRANCHE I ISSUE”) WHICH IS WITHIN THE SHELF LIMIT OF ₹1,500 CRORES (“SHELF LIMIT”) AND IS BEING OFFERED BY WAY OF THE TRANCHE I PROSPECTUS CONTAINING INTER ALIA THE TERMS AND CONDITIONS OF TRANCHE I ISSUE ( “TRANCHE I PROSPECTUS”), WHICH SHOULD BE READ TOGETHER WITH THE SHELF PROSPECTUS DATED NOVEMBER 4, 2022 (THE “SHELF PROSPECTUS” AND COLLECTIVELY WITH THE TRANCHE I PROSPECTUS, THE “PROSPECTUS”)