#CreditAccess Grameen IPO

[banknomics]

CreditAccess Grameen Limited NCD IPO 2023

CreditAccess Grameen Limited, headquartered in Bengaluru, stands as a prominent Indian micro-finance institution. According to MFIN India, this company holds the distinction of being India’s largest NBFC-MFI concerning the gross loan portfolio as of March 2023.

The foundation of the company’s success lies in its customer-centric approach, a diverse array of product offerings, and a finely tuned product delivery and collection framework. This synergy has led to the achievement of commendable customer retention rates and minimal credit costs.

A core aspect of CreditAccess Grameen Limited’s operations revolves around catering to the needs of customers residing in rural pockets of India. These regions are often underserved by the formal banking sector, thereby presenting an untapped potential for providing micro-loans.

As of June 30, 2023, the company has established its presence across 353 districts in 14 states (namely Karnataka, Maharashtra, Madhya Pradesh, Tamil Nadu, Kerala, Odisha, Chhattisgarh, Goa, Bihar, Jharkhand, Gujarat, Rajasthan, Uttar Pradesh, and West Bengal) and one union territory (Puducherry) in India. This expansive network comprises 1,826 branches and a dedicated workforce of 17,391 employees. Notably, the company caters to an active consolidated customer base of 44.2 lakhs, as of June 30, 2023.

[releasesoon]

CreditAccess Grameen lists at a discount on the bourses; opens at Rs 385 against issue price of Rs 422

CreditAccess Grameen lists at a discount on the bourses; opens at Rs 385 against issue price of Rs 422

[ad_1]

New Delhi: Shares of microfinance firm CreditAccess Grameen on Thursday made a weak debut on the bourses, falling over eight percent from the issue price of Rs 422.

The stock got listed at Rs 385 apiece on BSE, which is a 8.7 percent discount from its issue price.

Representational image. Reuters.

Similarly on NSE, the scrip opened at Rs 390, a plunge of 7.6…

[madhavip1978]

CreditAccess Grameen IPO – Should you Subscribe?

CreditAccess Grameen IPO – Should you Subscribe?

CreditAccess Grameen IPO – Should you Subscribe?

Bangalore based CreditAccess Grameen IPO would open for subscription on 8th August, 2018. Credit Access Grameen Limited (formerly known as Grameen Koota Financial Services) is 3rd Largest Micro Financial Institution (MFI) in India. Company revenues grew by 56% CAGR in the last 5 years. It earned profits of 14% for FY2018. There are strong views…

[petnews2day]

Creditaccess Grameen to go into guaranteed financing section; NCD released

New Post has been published on https://petnews2day.com/pet-industry-news/pet-financial-news/creditaccess-grameen-to-go-into-guaranteed-financing-section-ncd-released/?utm_source=TR&utm_medium=Tumblr+%230&utm_campaign=social

Creditaccess Grameen to go into guaranteed financing section; NCD released

Microfinancier Creditaccess Grameen, which has actually been just providing collateral-free loans to ladies, is going into the guaranteed financing side with house, automobile and gold loans in addition to SME financing, a leading business authorities. The Bengaluru-headquartered NGO-turned microlender, which went public in 2018 with a 400 crore-IPO, is the biggest microfinancer in regards to […]

See full article at https://petnews2day.com/pet-industry-news/pet-financial-news/creditaccess-grameen-to-go-into-guaranteed-financing-section-ncd-released/?utm_source=TR&utm_medium=Tumblr+%230&utm_campaign=social #PetFinancialNews

[captainmaya12]

MFI’s Re-evaluate IPO Plans, After Desultory Reaction To Spandana IPO

Micro- Finance institutions(MFIs), is early trusting that the opportune time will dispatch their underlying open offering(IPO's). Luckily, "this space was made by Spandana Sphoothy which is deficient in Execution", said MFI's.

 The Hyderabad-based MFI's Rs 1,200-crore Initial public offering, which shut on August 7, was bought in simply 1.05 occasions. The principle purpose behind this presentation was uneven markets just as the absence of excitement from retail speculators, who bought into just 10 % of the portion saved for them. In the Up and coming scarcely any quarters, in any event two other MFI's, Muthooth Microfine and Arohan had arranged IPO's. So now they chose to hang tight for greater lucidity. Muthoot Microfine will intend to reveal the Initial public offering relying upon the market execution of the up and coming two months.

 As of now, it got endorsement warning from the SEBI (Protections and Trade Leading body Of India) for the Initial public offering, and the permit is substantial for one year. Indeed, prior to an Initial public offering arranged around January – February, however because of some lamentable state of the capital market, it delayed.

 "We will go to the Initial public offering in the following two months at whatever point the market circumstance improves", said Sayeed. Arohan has been mulling over an Initial public offering since a year ago, yet starting at now, it's hoping to augment capital through elective sources.

 The group is exceptionally amped up for documenting an application for an Initial public offering by Q4 this year. At present, we are inside doing a rejig of advertiser's holding which is set to increment from almost 33% to 38% in front of the Initial public offering. The returns will assist us with venturing into new geologies. The market isn't light now, and in a perfect world one needs to sit tight for greater dependability before going for an Initial public offering," said Manoj Kumar Nambiar, overseeing executive, Arohan. Presently, MFIs develop in size, past Rs 3,000 crore regarding credit extraordinary, many have been looking to go for an Initial public offering.

 A year ago, Credit Access Grameen got recorded on the trades. Aside from this, the Silk Creditcare System is the other recorded microfinance organization after IndusInd Bank procured Bharat Budgetary Consideration in June. After Bharat Money related, CreditAccess Grameen is the biggest MFI, trailed by Silk and Arohan, as indicated by information accessible with Microfinance Organization System (MFIN).

[tradeniveshinvestmentadvisor]

Stocks In The News | Trade Nivesh

Trade Nivesh

Maruti Suzuki, Tata Motors, Cipla, Indoco Remedies, Welspun Corp, Embassy Office

IOL Chemicals | Inox Leisure | Titan Company | GAIL | BHEL | Cyient and SRF are stocks which are in the news today.

Here are stocks that are in the news today:

Listing: Embassy Office Parks REIT (IPO)

Auto sales: Maruti Suzuki, Ashok Leyland, Escorts, Eicher Motors, etc in focus.

Dr Reddy's Labs: German drug regulator cleared Duvvada formulations unit.

Welspun Corp: Company announced value unlocking of approximately Rs 940 crore through the divestment of its plate and coil mill division (PCMD) and its 43 MW power division.

Cipla: USFDA issued 8 GMP observations and 10 observations pertaining to the PAI for a novel technology product slated for approval beyond 2024 while inspecting Kurkumbh plant.

Shriram Transport board meeting on April 30, to consider raising of funds

Vikas WSP: Company received sanction for 80 percent principle outstanding amount of Rs 97.75 crore of both these banks being Rs 78.20 crore to be paid by ACRE and 20 percent amount Rs 19.55 crore to be paid by the promoters aggregating to Rs 97.75 crore in all. Punjab National Bank account has already been operating as standard w.e.f. April 2017.

Kolte-Patil Developers: Board declared interim dividend of Rs 1.40 per share for the financial year 2018-19.

Havells India started commercial production of air conditioners at its Ghiloth plant

Edelweiss Financial Services: Company appoints Dr Ashima Goyal and Anita George as independent directors.

CreditAccess Grameen: Company completed a securitization of Rs 93.83 crore. With this transaction, it completed seven securitization and four Direct Assignment transactions totaling to Rs 1,667.05 crore in FY19.

Titan Company: Company increased its shareholding in subsidiary Carat Lane Trading Private Limited from 66.39 percent to 69.47 percent.

Jubilant Foodworks' director Ramni Nirula resigns

Wipro - NCLT approved the scheme of amalgamation for the merger of wholly owned subsidiaries

Inox Leisure: Company commenced commercial operations of a multiplex cinema theatre taken on Leave and License basis, in Chennai. The said multiplex cinema theatre has 8 screens and 1,820 seats.

J&K Bank transferred 4.11 crore shares of PNB MetLife India Insurance Company to Oman India Joint Investment Fund II for a total consideration of Rs 185 crore

Cyient: Cyient Insights LLC, USA, a step down subsidiary of the company through Cyient Insights Private Limited, has been dissolved.

IOL Chemicals: Board allotted 6,82,000 equity shares of Rs 10 each at a premium of Rs 195 per share to promoter Towels Enterprises Limited.

Apollo Pipes: Virendra Singh Verma resigned from the post of CEO of the company.

Vijay Kelkar resigned from the directorship of the Lupin effective March 28, 2019.

Gujarat Gas: India Ratings and Research revised company's outlook to positive from stable while affirming its long-term issuer rating at AA.

Moody's assigns (P)Baa3 rating to IndusInd Bank's Medium Tcrm Notes (MTN) Program

Tata Motors: Company sold its shareholding in TAL Manufacturing Solutions to TASL at an enterprise value of Rs 625 crore for the aerospace business and acquired non aerospace business from TAL at a value of Rs 10 lakh.

Karnex Microsystems: Board approved further investment in Avant-Garde Infosystems Inc., USA a 100% wholly owned subsidiary.

Zenith Fibres: Board approved buyback of upto 5.5 lakh equity shares at a price of Rs 55 per share, aggregating to Rs 3.025 crore.

Lakshmi Vilas Bank revised MCLR w.e.f. April 1

Garden Reach Shipbuilders & Engineers: Company delivered its 100th Warship, a Landing Craft Utility (LCU), L-56, to the Indian Navy.

GAIL, BHEL: Companies signed MoU for development of solar based power project.

Mishra Dhatu Nigam: Company handed over bullet proof vehicles to Central Armed Police Force at Midhani.

Muthoot Capital Services: Company completed a securitisation transaction of Rs 38.86 crore. With this transaction, the company has so far raised total funds of Rs 783.30 crore through securitization / direct assignment transactions during the FY19.

CONCOR inaugurates its first distribution logistics center at Ennore, Chennai

Mahindra & Mahindra: MSPE URJA SRL with registered seat in Rovereto, Trentino, Italy, is incorporated in Rome, Italy as a wholly owned subsidiary of Mahindra Susten Private Limited, which is a wholly owned subsidiary of Mahindra Holdings Limited, which is a wholly owned subsidiary of the company.

SRF: Gujarat Pollution Control Board had issued directions under Water (Prevention and Control of Pollution) Act to the company to close the operations of its industrial plant at Dahej, Gujarat.

Blue Coast Hotels: Company announced acquisition of 8.5 crore equity shares from IFCI Limited in subsidiary Silver Resort Hotel India.

Rushil Decor has received a closure intimation from Gujarat Pollution Control Board (GPCB) to stop the Manufacturing process of one of the Laminate Sheet manufacturing units

Reliance Capital: ICRA revised its rating to A2 (on rating watch with negative implications) for the short-term debt programme of the company.

Astec Lifesciences: ICRA upgraded / re-affirmed credit ratings for Rs 455 crore line of credit (LOC) and Rs 100 crore commercial paper programme of the company.

Darjeeling Ropeway Company: Company bagged sub-contract for construction of 24 shades for district police offices/units at Ahmedabad and Surat City worth of Rs 2.52 crore, and sub-contract for repair and maintenance of 73 boats used by State Disaster Recovery Force, Emergency Response Centre, Municipal Corporation and Gujarat District collectively. The total contract amount is Rs 71.9 lakh.

Mishra Dhatu Nigam - Handing over of Bullet Proof Vehicles to Central Armed Police Force at MIDHANI

Crompton Greaves Consumer Electricals: CRISIL revised the credit rating of non-convertible debentures of company.

JK Tyre: Board alloted 1,94,17,400 equity shares to the constituents of the promoter group of the company on preferential basis.

Phillips Carbon Black: ICRA re-affirmed the long-term rating for the captioned Line of Credit (LOC) at AA-. The outlook on the long-term rating is revised from stable to positive.

Galaxy Surfactants: Board declared interim dividend of Rs 5 per share for the financial year 2018-19.

Suryalata Spinning Mills: Company successfully installed and completed trailes on 22,000 spindles at Kalwakurthy Unit. Consequent to this capacity expansion, the total capacity of spindles of the company has been increased from 93,000 to 1,15,000.

Virinchi: Company announced operational readiness of additional 50 beds of Banjara Hills facility in Hyderabad taking the operational capacity to 400 beds.

Gayatri Highways' subsidiary terminated its concession agreement with National Highways Authority of India (NHAI) on the basis of Force Majeure (Political event)

Indian Bank: Department of Financial Services, Ministry of Finance has issued notification for amalgamation of Pallavan Grama Bank (sponsored by Indian Bank) and Pandyan Grama Bank (sponsored by Indian Overseas Bank) in Tamil Nadu into a single regional rural bank which shall be called as Tamil Nadu Grama Bank with its head office at Salem under the sponsorship of Indian Bank.

SRF in process to close the operations of its industrial plant at Dahej

IOL Chemicals: Company made the pre-payment of term loan of Rs 20.05 crore due to banks in addition to regular payment schedule.

HEG: Company announced completion of extinguishment/destruction of a total of 13,63,636 equity shares of company after buyback.

Havells India: Company started commercial production of air conditioners at its Ghiloth plant.

Williamson Magor & Company: Company announced acquisition of 20,11,500 equity shares of Rs 10 each of Williamson Financial Services.

Rushil Decor: Gujarat Pollution Control Board (GPCB) issued notice to stop manufacturing process of one of the laminate sheet manufacturing units.

JM Financial: Company entered into a sale and purchase agreement for acquiring equity shares of JM Financial Asset Reconstruction Company Limited , a subsidiary of the company. With the acquisition, the company's shareholding in JMFARC has increased to 59.25 percent from 57.07 percent.

GMR Infra - Cancellation of 4 series Optionally Convertible Debenture (OCDs) by company on March 28

Inox Leisure: Company commenced the commercial operations of a Multiplex Cinema Theatre operated on lease basis in Bhubaneswar. The said multiplex cinema theatre has 3 screens and 609 seats.

Ugar Sugar Works: Company is already holding 48.20 percent stake in Ugar Theatre Pvt Ltd and now again has purchased up to 99 percent stake in Ugar Theatre Pvt Ltd.

Amber Enterprises: Company extended the timeline to complete the acquisition of balance stake of 51 percent in Ever Electronics by June 30, 2019 in one or more tranches.

JSW Energy: Board after careful evaluation decided not to pursue electric vehicle business and maintain capital cushion for growth opportunities in power and other related businesses.

Jubilant Life Sciences: Company and IFC Mutually agree for settlement of zero coupon convertible loan.

Indoco Remedies: USFDA cleared the sterile manufacturing facility of finished dosages, located at Goa (Plant II).

CyberTech Systems and Software: Overseas direct investment of $0.2 million is made in subsidiary Spatialitics LLC, Delaware, USA.

Grasim Industries: Company acquired Soktas India for Rs 135 crore.

MCX India: Board approved the appointment of PS Reddy as MD & CEO of the company.

Vadilal Industries: Company said the agenda to re-appoint Rajesh Gandhi and Devanshu Gandhi as Managing Directors of the company was not passed unanimously. It was further resolved to appoint a professional Managing Director/Chief Executive Officer/Manager for the company. Rajesh Gandhi and Devanshu Gandhi will continue to work for the company as a director of the company without any remuneration.

Lyka Labs: Company entered into One Time Settlement agreement with the Bank of Maharashtra and arranged to make an upfront payment of Rs 11 crore as settlement amount and Rs 6.49 lakh as processing fees to the bank.

Sadbhav Infrastructure Project: Company acquired further 6 percent (3,000) equity shares of subsidiary Maharashtra Border Check Post Network Limited (MBCPNL), held by SREI.

Container Corporation of India: First distribution logistics centre at Ennore, Chennai was inaugurated on March 30.

Dynamic Industries: Company has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary in Neo Farbe Private Limited.

Scanpoint Geomatics: Company in consortium with Team Computers Private Limited (lead bidder) received a contract for setting up of enterprise Geoportal for National Atlas and Thematic Mapping Organisation (NATMO), Kolkata. The aggregate value of project for SGL is Rs 2.08 crore.

The company received a contract of enterprise and City GIS Solution for Agra Smart City through Master System Integrator (MSI) - Bharat Electronics and Lookman Electroplast Industries Limited, and for Lucknow Smart City through MSI Fluent Grid Limited and Bharat Electronics. The aggregate value of the said projects for SGL is Rs 9.33 crore.

Navkar Corporation: Board approved appointment of Captain Dinesh Gautama as whole time director of the company with immediate effect. Dinesh Gautama is also serving as Chief Executive Officer.

Sayaji Industries: Board has authorised Priyam B Mehta, Varun P Mehta and Vishal P Mehta individually and jointly to enter into a Joint Venture Agreement with Societe Developpement Produits Afrique - SDPA, France, the holding company of Alland and Robert for manufacturing of gum arabic/ gum acacia, gum ghatti and gum blends. The joint venture will be a 50:50.

Rico Auto Industries: Company alongwith its step down subsidiary, Rasa Autocom Limited has completed the acquisition of 2,11,20,000 equity shares of Magna Rico Powertrain Private Limited from Magna Powertrain GMBH at the rate of Rs 4.05 per share for a total consideration of Rs 8.56 crore.

Jindal Drilling: Company has acquired an offshore jack up drilling rig from Discovery Drilling Pte Ltd, Singapore, a joint venture of the company. The rig would be soon deployed under contract with Oil and Natural Gas Corporation (ONGC) already awarded to the company.

[bearishmitch]

ECM Weekly (25 August 2018) - Latitude, Hua Medicine, China Kepei, Canaan, Afterpay, Meituan, QTT

Aequitas Research puts out a weekly update on the deals that have been covered by Smartkarma Insight Providers recently, along with updates for upcoming IPOs.

It was a holiday shortened week in Singapore, so Toh Zhen Zhou decided to take some time off to get his open water certification at the Liberty Wreck in Bali. While the site itself is not a bad dive, getting in and out of the water from a rock filled beach while carrying a tank full of oxygen is not something to look forward to at 6 am in the morning! Hopefully, he will get back in one piece to resume his weekly coverage from next week onwards. 

While he was away, in placement land Afterpay Touch (APT AU) raise around US$100m in its placement (notably launched before the IPO of Latitude Financial Services (1272471D AU), its aged peer), which was priced at the top end. The stock closed its first day of trading 15% above its deal price. It was already trading at rich valuations, we wouldn't stick around unless one it taking a very very long view. GLP J-REIT (3281 JP) meanwhile priced its placement at JPY107,130/share and like most J-REIT offerings its trading comfortably above that price, it was 7% higher as of Friday. 

In terms of listing, Creditaccess Grameen (CREDAG IN) was the only listing this week and after its tepid subscription numbers it made a not so surprising debut below its IPO price. It is now trading 4% below its IPO price and has only traded around half of its offering, thus it might have some more downside left before things settle down.

While August has been a rather relaxed month, things are showing signs of heating up with the recent spate of US filing, NIO Inc (NIO US), Qutoutiao Inc (QTT US) and a few more will all go live next month. At the same time, Meituan Dianping (MEITUAN CH) is said to have won approval for its US$4bn IPO, needless to say it will one of the most awaited listing in Hong Kong this year along with Sichuan Haidilao Catering (0172918D HK). Hope you enjoy the rest of August before we head into what looks to be a busy year end.

Accuracy Rate:

Our overall accuracy rate is 71.3% for IPOs and 63.5% for Placements (performance measurement criteria is explained at the end of the note).

New IPO filings this week

Mabpharm (HK, US$200m)

Tinaqi Lithium (HK, US$1bn)

Ascentage (HK, US$400m)

AsiaInfo (HK, US$400m)

New Century (HK, US$200m)

AGS Transact (India, US$150m)

Bector Specialities Food (India, US$120m)

Below is a snippet of our IPO tool showing upcoming events for the next week. The IPO tool is designed to provide readers with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc) for all the deals that we have worked on. You can access the tool here or through the tools menu.

News on Upcoming IPOs

Tencent-backed Chinese content aggregator Qutoutiao files for U.S. IPO to raise up to $300m

Qiming, Sequoia-backed mobile internet firm CooTek eyes $100m in US IPO

Earth Water plans to raise Rs 650-850 crore via IPO 

CITIC, Temasek-backed Chinese telecom software firm AsiaInfo files for HK IPO

AGS Transact Tech files for Rs 1,000 crore IPO 

Osotspa plans to start pre-marketing US$600m IPO next week

Smartkarma Community's this week Analysis on Upcoming IPO 

Meituan Dianping – Alibaba Investing Billions to Reach 50% Market Share

Qutoutiao 趣头条 (QTT) – A Spendthrift Who Pays News Readers Generously

Foodnamoo In source https://www.smartkarma.com/insights/ecm-weekly-25-august-2018-latitude-hua-medicine-china-kepei-canaan-afterpay-meituan-qtt?utm_medium=feed&utm_source=RSS

[globalexpressnews]

CreditAccess Grameen IPO Subscribed 25% On Day 1

CreditAccess Grameen IPO Subscribed 25% On Day 1

CreditAccess Grameen’s IPO or initial public offering received moderate response from investors on Day 1. The IPO of CreditAccess Grameen, a Bengaluru-based microfinance institution, is estimated at Rs 1,100 crore. At the end of the first day of issue, 47,83,205 bids were received as against the total issue size of 1,88,29,684, data available with stock exchange NSE till 5:00 pm showed. That…

[smartmeindia-blog]

CreditAccess Grameen IPO subscribed 2.17 times

CreditAccess Grameen IPO subscribed 2.17 times

The CreditAccess Grameen IPO was subscribed 2.17 times on Friday, the final day of the share sale, with investors bidding for 4.10 crore shares of the 1.88 crore on offer. Qualified institutional buyers bid for 5.52 times the shares offered to them, high networth individuals for 0.97 timesand retail investors bid for 0.79 times of the shares offered.

On Tuesday, the company allotted Rs 339.36…

[applyipo]

CreditAccess Grameen IPO Final Day Subscription Figures

CreditAccess Grameen IPO Final Day Subscription Figures

CreditAccess Grameen IPO Final Day Subscription Figures (CAGL IPO Subscription Figures):

CreditAccess Grameen Ltd IPO (CAGL IPO) subscription has closed on 10th August 2018. CreditAccess Grameen IPO final day subscription figures does looks very much average considering the size of the issue. In fact CreditAccess Grameen IPO has got subscribed by just 2.22 times on final day.

After Second Day…

[eqtmonline03-blog]

Indian Indices Trade Marginally Higher; Healthcare Stocks Witness Buying

Share markets in India are presently trading marginally higher. Sectoral indices are trading on a positive note with stocks in the capital goods sector and healthcare sector witnessing maximum buying interest.

The BSE Sensex is trading up by 53 points (up 0.1%), while the NSE Nifty is trading up by 4 points (up 0.04%). The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading down by 0.2%.

The rupee is trading at 70.10 to the US$.

In the news from finance space, HDFC Asset Management Company share price is witnessing buying interest today as the mutual fund house reported a 25% year-on-year (YoY) rise in net profits for the quarter ended June 2018.

The company had recently concluded its IPO and had received stellar response for the same.

HDFC AMC is the asset management arm of Housing Development Finance Corporation (HDFC Ltd). Promoted by HDFC in 1999, Standard Life Investments (SLI) acquired 26% stake in HDFC AMC in 2001, and now the company operates as a joint venture between HDFC and SLI.

Through organic growth and acquisitions, such as Zurich India and Morgan Stanley MF, the firm has grown to one of the top two AMCs in India. It has around Rs 2.9 trillion of assets under management (AUM), commanding a significant 13.7% market share in the industry. It is also ranked the most profitable AMC in the country since FY13.

Senior management of the firm has been broadly stable with Mr Milind Barve serving as the Managing Director since 2000 and Mr Prashant Jain as Chief Investment Officer since 2004.

To know more about the company, you can read our IPO analysis of HDFC Asset Management Company (AMC) Ltd(requires subscription).

At the time of writing, HDFC AMC share price was trading up by 3.4% on the BSE.

L&T share price is also in focus today as the board of directors today approved the company's first ever proposal of buyback of equity shares.

Speaking of buybacks, the number of buyback offers in 2017-18 were at an all-time high. Never, in the last two decades, had Indian markets seen fifty-nine companies announcing buyback plans.

But what is truly surprising is that unlike in the past, the buybacks this time seem skewed in favour of short term investors rather than long term ones.

At Equitymaster, we believe, as a shareholder in cash rich companies, you should not only be wary of expensive buybacks. But if possible use it to your advantage to rake in some cash.

As per Rahul Shah, co-head of Research, investors should not assume buybacks are always good. Here's an excerpt of what he wrote in one of the editions of The 5 Minute Wrapup:

The reason behind the buyback must be investigated. At the end of the day, an increase in earnings should be more a function of the inherent robustness of the business, as that's what will help it continue to grow at a healthy pace.

The topic also brings us to ask: Do buy-backs offer an arbitrage opportunity for retail investors? Ankit Shah has answered this question in one of the editions of Equitymaster Insider. You can access the issue here (requires subscription).

In the news from initial public offering (IPO) space... Shares of CreditAccess Grameen, which concluded its IPO recently, made a tepid debut on bourses today as the scrip of the company got listed at Rs 385. This represents 8.7% discount to its issue price of Rs 422.

The Rs 11 billion IPO by the microfinance institution ran from August 8 to August 10 and was subscribed over 2 times.

The issue size of this IPO was about 26.8 million shares, which included 11.8 million shares issued by the promoter CreditAccess Asia N.V. and a fresh offer of shares of up to Rs 6.3 billion.

CreditAccess Grameen, a leading microfinance institution in India, is focused on providing micro-loans, especially to the women customers in rural India. The lending products of the company address the financial needs of the customers throughout their lifecycle. This includes income generation, family welfare, home improvements, and loans for emergencies.

The customer segment they mainly focus on is women with an annual household income of Rs 160,000 or less in urban areas and Rs 100,000 or less in rural areas. The company provides loans primarily under the joint liability group (JLG) model.

To know more about the company, you can read our IPO analysis of CreditAccess Grameen Ltd (requires subscription).

Speaking of IPOs, the stock market is gearing up for a burst of IPO activity over the next two months.

Also, according to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$ 3.9 billion in the first half of this year.

Meanwhile, the amount raised by SME IPOs in 2017 stood at Rs 17.9 bn. This is more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132. This is evident from the chart below:

SME IPO Boom in 2017

So how should one approach to IPOs? We believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

Also, to know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

This article was originally published in English at www.equitymaster.com

Read the complete Indian stock market update. For the terms of use, go here.

[ways2capitalreview-blog]

Ways2Capital Reviews : Important Facts About CreditAccess Grameen IPO

Ways2Capital Reviews : Important Facts About CreditAccess Grameen IPO

Microfinance firm CreditAccess Grameen was subscribed 25% on Wednesday. On the first day of the share sale, investors bid for about 47 lakh shares of the 1.88cr shares on offer.

The Bengaluru-based company had placed the price band at Rs418-422 per equity share.

The issue consists of a fresh issue of shares worth up to Rs630cr and offer of sale of Rs501cr.

The enterprise mainly provides…

[casuallysuperbnut]

CreditAccess Grameen IPO Subscribed 25% On Day 1 http://dlvr.it/QfFPrv

[imeraipo-blog]

How to check creditaccess grameen ipo allotment status & listing date. CreditAccess Grameen IPO allotment status will be available at Karvy Computershare’s website. Go through the below steps to get the allotment applicaton status. This IPO is generating a strong demand in Indian market from investors and the issue will be subscribed more than 80 times.