Home / BUSINESS / CreditAccess Grameen rises on getting nod to acquire additional stake in Madura Micro Finance

CreditAccess Grameen rises on getting nod to acquire additional stake in Madura Micro Finance

CreditAccess Grameen is currently trading at Rs. 806.25, up by 2.05 points or 0.25% from its previous closing of Rs. 804.20 on the BSE.

The scrip opened at Rs. 810.00 and has touched a high and low of Rs. 829.60 and Rs. 802.50 respectively. So far 4722 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 848.55 on 29-Nov-2019 and a 52 week low of Rs. 350.10 on 11-Feb-2019.

Last one week high and low of the scrip stood at Rs. 837.60 and Rs. 786.00 respectively. The current market cap of the company is Rs. 11650.27 crore.

The promoters holding in the company stood at 80.05%, while Institutions and Non-Institutions held 14.37% and 5.58% respectively.

CreditAccess Grameen has received approval for the acquisition of an additional 13,350 equity shares of MMFL constituting 0.19% of the fully paid up equity share capital of Madura Micro Finance (MMFL).

Pursuant thereto, the aggregate number of equity shares of MMFL that the Company proposes to acquire would be around 54.92 lakh equity shares constituting 76.34% of MMFL’s fully diluted paid-up equity share capital.

CreditAccess Grameen is a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. Its wide range of lending products addresses the critical needs of its customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.

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