CreditAccess Grameen shares to list on Thursday
Shares of microfinance firm CreditAccess Grameen, which has concluded Rs 1,131-crore initial public offer (IPO), will make a debut on stock exchanges on Thursday. The IPO was subscribed more than two times during the August 8-10 offer period.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 5.52 times, while that of non institutional investors was 98 per cent and retail investors witnessed a subscription of 88 per cent.
Stocks of CreditAccess Grameen will be listed on August 23, Thursday, according to a listing ceremony invitation by the company.
The IPO comprised fresh issue of shares worth up to Rs 630 crore besides an offer for sale of up to 1,18,76,485 shares with a price band of Rs 418-422 apiece.
ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital Company managed the issue.