CreditAccess Grameen
| Company type | Public Ltd. Co. |
|---|---|
| NSE: CREDITACC, BSE: 541770 | |
| Industry | Finance |
| Founded | 1999 |
| Headquarters | , |
Area served | India |
Key people | |
| Services | Financial services |
| Website | www |
CreditAccess Grameen Limited(CA Grameen), headquartered in Bengaluru, is India's largest microfinance institution/NBFC-MFI which serves customers predominantly in rural areas.[3][4][5]
The company is engaged in providing microfinance services to Women from low-income households who are enrolled as members and organized in Joint Liability Groups.[6][7]
CreditAccess Grameen Limited is a listed company in National Stock Exchange (NSE: CREDITACC) and Bombay Stock Exchange (BSE: 541770).[8][9]
History
CreditAccess Grameen (CA Grameen) is leading the charge, which was established in 1999 by Vinatha M. Reddy, who was inspired by the book “Give Us Credit” by Alex Counts, President & CEO of Grameen Foundation, U.S.A. Reddy, who was then running an NGO — "T Muniswammapa Trust", was inspired by what she read and managed to obtain a USD 35,000 grant from the Grameen Foundation to create a replica in India. As a result, Grameen Koota was born, and as the concept grew in popularity, the company was renamed Grameen Financial Services Private Limited in October 2007. Since then, the former owners have made way for a slew of new promoters, including CreditAccess India B.V., a Dutch-based Asia-focused microfinance major that has invested INRRs. 968 crore in CA Grameen since 2009. Though Reddy is no longer involved, her original idea lives on through Udaya Kumar Hebbar, who joined as CEO in 2010, but has acquired a larger role as MD and CEO since 2016.[10]
In 2018, was listed on National Stock Exchange and Bombay Stock Exchange with INR 1,131 crore-IPO.[11]
In Sep 2019, Citigroup partnered with CA Grameen to finance 75,000 Women Entrepreneurs in India.[12]
CreditAccess Grameen acquired Madura Micro Finance at the deal of INR 876 Cr in November 2019.[13]
CA Grameen also invested INR 150 Cr. in Madura Micro Finance in December 2021.[14]
- ^ "Northern Arc Capital facilitates $20 million ECB loan for CreditAccess Grameen". Thehindubusinessline.com. 13 April 2023.
- ^ Ghosh, Shayan (27 November 2022). "Microfinance lenders go for secured loans to diversify risk". mint.
- ^ "Lending To The Bottom Of The Pyramid". Forbes India.
- ^ "CreditAccess Grameen unveils NCD issue". The Hindu. 9 November 2022.
- ^ "Improving reach, stable asset quality to drive performance of CreditAccess Grameen". The Economic Times.
- ^ "creditaccess grameen hits record high; jumps 12percent in three days". Capitalmarket.com.
- ^ "Smallcap stars shine bright! AstraZeneca Pharma, Kirloskar Industries and 4 others surge to new 52-week highs". The Economic Times. 23 June 2023.
- ^ "CreditAccess Grameen Ltd Share Price Live on NSE/BSE | CreditAccess Grameen Ltd Stock Price, Latest News, Analysis & Update - ICICI Direct". ICICIdirect.
- ^ "CreditAccess Gr Share Price, CreditAccess Gr Stock Price, CreditAccess Grameen Ltd. Stock Price, Share Price, Live BSE/NSE, CreditAccess Grameen Ltd. Bids Offers. Buy/Sell CreditAccess Grameen Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". Moneycontrol.com.
- ^ "CA Grameen: A Resilient Ecosystem". Fortuneindia.com. 3 March 2023.
- ^ "CreditAccess Grameen's Rs 1,131-cr IPO to open on August 8, price band at Rs 418-422". Moneycontrol. 1 August 2018.
- ^ "Inclusive Finance in India: Citi Partnering with CreditAccess Grameen to Finance 75,000 Women Entrepreneurs". Citigroup.com.
- ^ "CreditAccess Grameen to acquire Madura Micro Finance for ₹876 cr". Thehindubusinessline.com. 27 November 2019.
- ^ Ray, Atmadip (21 December 2021). "CreditAccess Grameen to infuse Rs 250 crore in subsidiary Madura Micro Finance". The Economic Times.