The simultaneous offer for sale and fresh offer from Credit Access Grameen Limited was subscribed. The company had tapped the capital markets with its simultaneous offer for sale and fresh issue. The issue consisted of a fresh issue of Rs 630 crs and an offer for sale of 1.18 cr shares in a price band of Rs 418 to 422. The company would be raising Rs 1,131.18 crs at the top end of the band.

Earlier the company had allotted 80,41,617 shares to 20 anchor investors comprising of 23 entities. The top allocation was made to Neuberger Berman Emerging Markets Equity Fund who was allotted 10,66,345 equity shares or 13.26% of the equity.

The issue was subscribed 5.52 times by QIB’s, 0.98 times by HNI’s and 0.88 times by Retail. There were 1.65 lakh applications. The response was muted, and it probably had to do with the fact that this issue came after the blockbuster HDFC AMC issue and could not match that hype.

Listing would tell us more about the company and how QIB’s view it.

Details of the subscription are given below: –