CreditAccess Grameen Ltd. Board has approved issuance of Rs 3,000 crore Non-convertible debentures (NCD) on private placement basis. The Investment Committee will decide the particulars of the fund raising activity on October 15, 2020.
The Bengaluru based finance company stated in its BSE regulatory filing. “Pursuant to Regulation 29 and Regulation 50 of the Listing Regulations and further to our communication dated August 01, 2020, where-in the Board of Directors had inter-alia approved issuance and allotment of Securities, which includes NCDs, CPs or other marketable instruments to the aggregate amount of INR 3,000 Crore and authorised the “Executive, Borrowings and Investment Committee” of the board of directors to consider the particular terms of such Issue, we wish to inform you that the meeting of the Executive, Borrowings and Investment Committee of the Company will be held on Thursday, October 15, 2020, to consider the terms of issue of non-convertible debentures to be issued by the Company to various prospective investors on a private placement basis in one or more tranches/issues within the overall limit approved by the Board of Directors.”
The company was previously known as Grameen Koota Financial Services Pvt. Ltd.
