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 noninstitutional investors was 98 percent and retail investors witnessed a subscription of 88 percent.

Stocks of credit access Grameen will be listed on August 23, Thursday, according to a listing ceremony invitation by the company.

The IPO comprised a 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.

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