CreditAccess Grameen Limited IPO - Should you subscribe?
CAGL's Background: CreditAccess Grameen Ltd is Bangalore based NBFC - MFI, i.e. Non-Banking Finance Corporation - Micro Finance Institution which is predominantly engaged in the micro financing business. This company's major business (more than 80%) comes from Rural part of India. The company's focus is on targeting the large chunk of customers who have no access to banks or limited access for borrowings. The company's focused target customer is women having annual household income of Rs. 1,60,000 or less in Urban Areas and Rs. 1,00,000 or less annual household income in Rural Areas. The company has followed a strategy of continuous district - based expansion across regions and as of March 31, 2018, it covers 132 districts in the eight states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Goa and Kerala) and one union territory (Ponducherry) in India through 516 branches and 4544 loan officers. CAGL's Promo