CreditAccess Grameen board approves issuance of NCDs aggregating up to Rs100cr

The current market cap of the company is Rs9,633.33cr.

Aug 25, 2021 10:08 IST India Infoline News Service

CreditAccess Grameen
CreditAccess Grameen Ltd has informed to the exchange that the Executive, Borrowings and Investment Committee of the Board of Directorson August 24, 2021, has considered and approved the terms and conditions for issuance of 1000 rated, senior, secured, listed, transferable, redeemable, principal protected market linked Non-Convertible Debentures of face value of Rs10 lakhs each, aggregating up to Rs100cr.

This is proposed to be listed on the Wholesale Debt Market Segment (WDM) of BSE Limited.

The major details regarding allotment are:

Date of allotment August 31, 2021
Tenure 24 months 5 days
Date of Maturity September 05, 2023

If the final fixing level is at 25% or below of the initial fixing level, then interest rate on MLDs is 0.0% else the interest rate on MLDs is 8.90% XIRR (translating to 8.56% papm). The yield is payable to the debenture investors on the final maturity date.

At around 10:18 AM, CreditAccess Grameen wasa trading at Rs619.55 apiece up by Rs0.75 or 0.12% on the BSE.

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