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.