CreditAccess Grameen Limited is leading Indian micro-finance institution head office situated at Bangalore, it primarily provides micro-loans to women customers mostly in Rural Areas in India. According to CRISIL Research, it is the third largest NBFC-MFI gross loan provider in India as of 31st March 2017.
Date of Establishment: CreditAccess Grameen Limited was incorporated as Sanni Collection Private Limited on 12th of June 1991, as a private limited company by Registrar of Companies at Bangalore. Subsequently, the company was converted to public limited company renamed to ‘CreditAccess Grameen Limited’ on 12th January 2018 under Companies Act 1956 by Registrar of Companies, Bangalore. Thereafter RBI granted a fresh certificate of registration dated January 19, 2018, bearing registration number B – 02.00252 for registration as an NBFC under Section 45 IA of the Reserve Bank of India Act, 1934.
Promoters of CreditAccess Grameen Limited: CreditAccess Asia N.V. is the sole promoter of CreditAccess Grameen Limited.
Products and Services Offering: CreditAccess Grameen Limited is the leading micro-finance institution which provides micro-loans to women customers primarily in Rural Areas in India. Its wide range of lending products addresses the critical needs of Customers throughout their life cycle. The products offering is further divided into several Categories of Income Generation Products, Family Welfare Products, Home Improvement Products, Emergency Loan Product, Individual Retail Finance Loan Products, Micro Insurance Products and Pension Products loans.
Customer Segments: CreditAccess Grameen Limited has active diversified customer base across the states of Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu and Chhattisgarh.
Objectives of CreditAccess Grameen Limited IPO: The objects of CreditAccess Grameen Limited includes Offer for Sale and Fresh Issue :
- Offer for Sale by existing selling stakeholders.
- Utilise the Net Proceeds from the Fresh Issue towards augmenting its capital base to meet future capital requirements.
- To undertake its existing activities and the activities for which funds are being raised by through the Fresh Issue.
Note Company will not receive any proceeds from the Offer for Sale.
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