Shares of CreditAccess Grameen Limited rose 3.12% after the company received Rs. Raised Rs 98,958 crore through public issue of secured, redeemable non-convertible debentures (NCDs). These non-communicable diseases are now listed on NSE and BSE.
The second tranche of NCD is issued with a basic issuance size of Rs. 400 crore with an option to retain over-subscription up to Rs. 600 Crores, saw a response that amounted to Rs. 1,000 crore, well within the shelf limit of Rs. 15 billion rupees. NCD has been rated IND AA-/Stable by India Ratings and Research Private Limited.
The issue was subscribed at approximately Rs. 1,012 crore (2.53 times the underlying issue size), according to consolidated bid details on the stock exchange platform. Accordingly, the company exercised its option to retain over-subscription and allotted 98,95,794 NCDs of face value of Rs 100,000 each. 1,000 rupees, totaling rupees 1,000. 989.58 Crores.
This issuance attracted the attention of various investors. The institutional category was oversubscribed by 2.50 times, the non-institutional category was oversubscribed by 2.68 times, the HNI category was oversubscribed by 2.14 times, and the retail category was oversubscribed by 2.46 times. NCD provides investors with the choice of monthly interest and accumulated interest, with the effective annual interest rate ranging from 9.48% to 10.13%.
The stock rose 3.12% to Rs. It was 1,476 at 11.47 am on BSE.
