Creditaccess Grameen NCD oversubscribed 2.7 times on Day 2

The lender has a board mandate of raising up to Rs 1,500 crore through NCDs.The NCD has been subscribed 1.17 times in the retail category Rs 146.52 crore, 2.24 times in the institutional category Rs 280 crore, 1.25 times in the individual category Rs 93.91 crore, and 0.96 times in the corporate category Rs 167.46 crore, the bank said.This issue has tenures of 24 months, 36 months, and 60 months, and offers up to 9.83-10.46 per cent in returns.

Microlender Creditaccess Grameen on Tuesday said its Rs 500-crore public issue of secured, redeemable non-convertible debentures (NCDs) has been oversubscribed 2.66 times on the second day, getting bids for Rs 681 crore.

The issue, which is the first NCD issuance by the lender, is open for subscription from November 14-17. The issue has a base size of Rs 250 crore with an option to retain oversubscription up to Rs 250 crore, aggregating up to Rs 500 crore. The lender has a board mandate of raising up to Rs 1,500 crore through NCDs.

The NCD has been subscribed 1.17 times in the retail category (Rs 146.52 crore), 2.24 times in the institutional category (Rs 280 crore), 1.25 times in the individual category (Rs 93.91 crore), and 0.96 times in the corporate category (Rs 167.46 crore), the bank said.

This issue has tenures of 24 months, 36 months, and 60 months, and offers up to 9.83-10.46 per cent in returns.

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