CreditAccess Grameen raises ₹425 crore via private issue of NCDs

Microfinance company CreditAccess Grameen has said that it raised ₹425 crore in June 2026 through private placement of non-convertible debentures (NCDs).

Non convertible debentures remain as debt and are repaid with interest at maturity. CreditAccess’ NCDs are senior, secured, rated, listed, and redeemable.

The issuance comprised of two transactions: ₹325 crore came from a group of investors through a deal arranged by Nuvama, and ₹100 crore came directly from Bajaj Finance.

The ₹325 crore NCDs arranged by Nuvama Fixed Income Advisory were subscribed by Sundaram Finance (₹100 crore), Nuvama Wealth Finance (₹100 crore), Julius Baer Capital (₹75 crore), Royal Sundaram General Insurance (₹25 crore) and Vivriti Fixed Income Fund (₹25 crore).

The issue had launched with a base size of ₹200 crore, but the company was able to raise an additional ₹125 crore through a green-shoe option.

The NCDs were issued with a tenure of two years and a fixed rate coupon of 9.25 per cent per annum, payable quarterly.

The ₹100 crore NCDs bilaterally placed with Bajaj Finance were issued with a tenure of two years and a floating rate coupon of 9.15 per cent per annum, payable monthly.