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CreditAccess Grameen | QIP

SBICAP garnered 2nd Highest Procurement of New Investor Demand

2020

About

  • CreditAccess Grameen (CREDAG) is one of India’s leading & the largest microfinance institution

Key Highlights and Value Add by SBICAP – Investec

  • Leveraging on the strong understanding & research-driven differentiated insights on financial inclusion space, SBICAP spearheaded the marketing efforts
  • SBICAP played a key role in enriching and further expanding the institutional shareholding base by getting marquee long-only FIIs while delivering optimal pricing for the issue
  • The deal construct was challenging and unique wherein 100% weightage was assigned for procuring new investors
  • In a 4-bank syndicate, SBICAP successfully delivered by procuring 2nd highest of the new investors’ demand – ~33% ex. Hedge Funds and ~26% incl. Hedge Funds.
  • SBICAP got 2 out of total 4 new long-only FIIs that participated in the issue
  • The deal was successfully closed within a tight 4-week timeline from the kick-off

Offering Summary

QIP Size INR 800 Cr
SEBI Floor Price INR 707.69
QIP Price INR 707
Launch Date 5th October, 2020

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