CreditAccess Grameen
| Company type | Public Ltd. Co. |
|---|---|
| NSE: CREDITACC, BSE: 541770 | |
| Industry | Financial Services |
| Founded | 1999 |
| Headquarters | , |
Number of locations | 1,967 |
Area served | 16 states & 1 union territory |
Key people | |
| Products | Microfinance loan, Gold loan, Two wheeler loan, Loan against property, Affordable housing loan |
| Services | Financial services |
| Revenue |  ₹5,173 crore (US$620 million)[3] (2024) |
| ₹1,446 crore (US$170 million)[3] (2024) | |
| Total assets | ₹28,846 crore (US$3.5 billion)[3] (2024) |
| Total equity | ₹6,570 crore (US$790 million)[3] (2024) |
Number of employees | 19,395[4] (2024) |
| Rating | AA- stable |
| Website | www |
CreditAccess Grameen Limited (CA Grameen) is an Indian microfinance institution, headquartered in Bengaluru, which serves customers predominantly in rural areas.[5][6][7] The company is engaged in providing microfinance services to women from low-income households who are enrolled as members and organized in Joint Liability Groups.[8][9]
CreditAccess Grameen Limited is a listed company in the National Stock Exchange and Bombay Stock Exchange.[10][11]
History
[edit]CreditAccess Grameen (CA Grameen) was established in 1999 by Vinatha M. Reddy, who was inspired by the book “Give Us Credit” by Alex Counts, President & CEO of Grameen Foundation USA. Reddy, who was then running an NGO — "T Muniswammapa Trust", managed to obtain a US$35,000 grant from the Grameen Foundation to create a replica in India. As a result, Grameen Koota was born, and as the concept grew in popularity, the company was renamed Grameen Financial Services Private Limited in October 2007. Since then, the former owners have made way for new promoters, including CreditAccess India B.V., a Dutch-based Asia-focused microfinance major that has invested INR 968 crore in CA Grameen since 2009. Udaya Kumar Hebbar joined as CEO in 2010, and has acquired a larger role as MD and CEO since 2016.[12]
In August 2018, the company was listed on National Stock Exchange and Bombay Stock Exchange with INR 1,131 crore-IPO.[13]
In September 2019, Citigroup partnered with CA Grameen to finance 75,000 Women Entrepreneurs in India.[14]
CreditAccess Grameen acquired Madura Micro Finance at the deal of INR 876 crore in November 2019.[15]
CA Grameen also invested INR 150 crore through subordinated debt in Madura Micro Finance in December 2021.[16]
U.S. International Development Finance Corporation, the US Government's development finance institution signed a loan agreement of US$35 million with CA Grameen in November 2022.[17][18]
In June 2023, CA Grameen signed a syndicated social loan facility of up to US$200 million, the first in the microfinance industry and the fourth in the country.[19]
Ganesh Narayanan was appointed as the CEO with effect from August 1, 2023, while Udaya Kumar Hebbar continues to oversee the firm as MD.[20]
Shareholding
[edit]The promoter continues to hold a majority stake in the company. More than 250 shareholders in the holding company have been supporting with more than adequate growth equity for the past 15 years in the form of patient capital.[21]
| Investor Type | Percentage |
|---|---|
| Promoter Group | 66.58 |
| Mutual Funds, Alternate Investment Funds and Insurance Companies | 15.76 |
| Foreign Portfolio Investors | 11.65 |
| Others | 6.01 |
CA India Foundation
[edit]CreditAccess India Foundation (CA India Foundation) is a Section 8 corporation that was established in 2021. It is a Non-government company that is registered with the Registrar of Companies in Bangalore. CreditAccess Grameen Limited owns 100% of CA India Foundation. The foundation works on areas of social development such as Education, Livelihood, Health, and Rural Public Institution Development. CA Grameen's CSR operations are carried out by the CA India Foundation.[22][12]
References
[edit]- ^ "Northern Arc Capital facilitates $20 million ECB loan for CreditAccess Grameen". Thehindubusinessline.com. 13 April 2023.
- ^ Ghosh, Shayan (27 November 2022). "Microfinance lenders go for secured loans to diversify risk". mint.
- ^ a b c d "CreditAccess Grameen Q2 2023-24 Report" (PDF). BSE India.
- ^ "BSE India Report Credit Access Grameen" (PDF). BSE India.
- ^ "Lending To The Bottom Of The Pyramid". Forbes India.
- ^ "CreditAccess Grameen unveils NCD issue". The Hindu. 9 November 2022.
- ^ "Improving reach, stable asset quality to drive performance of CreditAccess Grameen". The Economic Times.
- ^ "creditaccess grameen hits record high; jumps 12percent in three days". Capitalmarket.com.
- ^ "Smallcap stars shine bright! AstraZeneca Pharma, Kirloskar Industries and 4 others surge to new 52-week highs". The Economic Times. 23 June 2023.
- ^ "CreditAccess Grameen Ltd Share Price Live on NSE/BSE | CreditAccess Grameen Ltd Stock Price, Latest News, Analysis & Update - ICICI Direct". ICICIdirect.
- ^ "CreditAccess Gr Share Price, CreditAccess Gr Stock Price, CreditAccess Grameen Ltd. Stock Price, Share Price, Live BSE/NSE, CreditAccess Grameen Ltd. Bids Offers. Buy/Sell CreditAccess Grameen Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". Moneycontrol.com.
- ^ a b "CA Grameen: A Resilient Ecosystem". Fortuneindia.com. 3 March 2023.
- ^ "CreditAccess Grameen's Rs 1,131-cr IPO to open on August 8, price band at Rs 418-422". Moneycontrol. 1 August 2018.
- ^ "Inclusive Finance in India: Citi Partnering with CreditAccess Grameen to Finance 75,000 Women Entrepreneurs". Citigroup.com.
- ^ "CreditAccess Grameen to acquire Madura Micro Finance for ₹876 cr". Thehindubusinessline.com. 27 November 2019.
- ^ Ray, Atmadip (21 December 2021). "CreditAccess Grameen to infuse Rs 250 crore in subsidiary Madura Micro Finance". The Economic Times.
- ^ "CreditAccess Grameen signs loan agreement with US International Development Finance Corporation". The Economic Times. 19 October 2022.
- ^ "CreditAccess Grameen shares rise after raising $35 million from US International DFC". cnbctv18.com. 19 October 2022.
- ^ Ray, Atmadip (27 June 2023). "CreditAccess Grameen signs a $200 million external commercial borrowing deal". The Economic Times.
- ^ "CreditAccess Grameen appoints Ganesh Narayanan as CEO". Thehindubusinessline.com. 25 July 2023.
- ^ "CreditAccess Grameen Annual Report BSE" (PDF). BSEIndia.
- ^ "Free internet-based learning centre inaugurated for children in city". The Hindu. 30 January 2023.