CreditAccess Grameen Limited Allots INR 100 Crore in Senior Secured Debentures via Private Placement
CreditAccess Grameen Limited has approved the allotment of senior, secured, rated, listed, and redeemable non-convertible debentures (NCDs) amounting to INR 100 crore through a private placement. The issuance was finalized by the Company's Executive, Borrowings & Investment Committee during a meeting held on June 12, 2026.The issue comprises 10,000 such debentures, each having a face value of INR 1 lakh. This translates to an aggregate nominal value of INR 100,00,00,000. The company has successfully completed the allotment of these securities.
Debenture Details and Tenure
The issued debentures are senior, secured, rated, listed, redeemable, transferable, and taxable non-convertible instruments denominated in Indian Rupees. They were allotted on a private placement basis.The tenure of the instrument spans 24 months from the date of allotment to maturity. The Date of Allotment is set as June 12, 2026 (Deemed Date of Allotment), and the Final Redemption Date is June 12, 2028.
Financial Structure and Security
The debentures are secured by a first ranking exclusive and continuing charge created in favor of the Debenture Trustee over certain identified book debts/receivables of the Company (the Hypothecated Assets). The value of these assets must be at least 1.10 times the outstanding principal amounts along with accrued interest thereon until redemption.The interest rate offered is pegged to a benchmark calculation, combining the prevailing Three Month Marginal Cost of Funds based lending rate (MCLR) of the State Bank of India or an equivalent benchmark rate determined by the debenture trust deed, and a spread of 90 basis points (bps). The Interest Rate is stated as 9.15% per annum and will be payable monthly.
The Transaction Documents dictate that the principal amount will be paid on the Final Redemption Date, consistent with the pari passu redemption method defined in the documents. Penal charges are stipulated at 2% per annum over the prevailing Interest Rate for any outstanding principal amounts should a payment default occur.
Key details of the debenture issuance are summarized below:
| Particular | Detail |
|---|---|
| Type of Securities | Senior, secured, rated, listed, redeemable, transferable, taxable, non-convertible debentures (NCDs) |
| Total Issue Size | INR 100,00,00,000 (One Hundred Crore) |
| Number of Debentures | 10,000 |
| Face Value per Debenture | INR 1,00,000 |
| Date of Allotment | June 12, 2026 |
| Maturity Date | June 12, 2028 (Tenure: 24 months) |
| Coupon/Interest Rate | Market-linked rate + 90 bps (Stated at 9.15% per annum) |
The debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited.
CREDITACC Stock Price Movement
On Friday, CREDITACCESS GRAMEEN LIMITED shares edged higher, closing at ₹1310.40 after gaining 3.17%. The stock settled with total traded volume amounting to 191,339 shares as investors closed trading for the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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