Fundraising Details
CreditAccess Grameen Limited has successfully raised INR 300 crore through private placement of non-convertible debentures (NCDs) in September 2026. The issuance was fully subscribed and bilaterally placed with Barclays Bank PLC, a qualified institutional buyer.
NCD Structure
The NCDs were issued in two tranches:
- INR 100 crore with 24-month tenure carrying fixed rate coupon of 9.15% per annum
- INR 200 crore with 36-month tenure carrying fixed rate coupon of 9.25% per annum
Both tranches feature annual coupon payments with bullet principal repayment at maturity. The NCDs are senior, secured, rated, and listed instruments.
Funding Purpose
The proceeds will fund the growth of the company's lifecycle credit suite for low-middle income households across rural and semi-urban India. The company continues to utilize the private placement NCD route for funding its expansion.
Management Commentary
Mr. Nilesh Dalvi, Chief Financial Officer, commented that the bilateral placement with a leading global financial institution represents a strong endorsement of the company's credit profile, asset quality, and governance standards. He highlighted that the bullet structure is particularly advantageous from an ALM perspective as the principal remains fully outstanding until maturity rather than amortizing progressively, providing longer effective funding benefit and strengthening the ALM profile.
The company remains focused on enhancing funding efficiency and building a robust funding architecture aligned with growth ambitions through 2028.
Company Background
CreditAccess Grameen is India's leading rural focused inclusive financing platform headquartered in Bengaluru. The company provides lifecycle credit suite including group loans, individual business loans, secured business loans, affordable housing loans, and two-wheeler financing. The company operates across 457 districts in 16 states and one union territory (Puducherry) through 2,276 branches.