CreditAccess Grameen Share Price Jumps 3% on Securing $100 Million Social Loan

Market Performance

Shares of CreditAccess Grameen surged over 3% in early trade on Wednesday after the company secured a $100 million multi-currency syndicated social loan.

• The stock reached an intraday high of ₹1,249, representing a 4.38% increase on the NSE.
• Later, it settled at ₹1,235.7, still up 3.27% by 10 AM.

This marks a strong response from investors as the company strengthens its financial position.

Key Development: $100 Million Social Loan Facility

CreditAccess Grameen, a leading microfinance institution, secured a first-of-its-kind multi-currency loan in India's microfinance sector.

• The loan includes Japanese Yen (JPY) and US Dollar (USD) components.
• Funds were raised primarily from banks in South Asia and the Far East.
• The facility qualifies as External Commercial Borrowing (ECB) under RBI's automatic route.

Social Loan Framework Compliance

The loan adheres to CA Grameen's Social Loan Framework, which aligns with:

• Social Loan Principles 2023
• Strict governance on fund usage
• Clear social development goals

Summary

• CreditAccess Grameen's share price rose 3% after securing a $100 million social loan.
• The loan is a first in India's microfinance sector, blending JPY and USD.
• Funds will support social development initiatives under strict governance and oversight.