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Axis Bank is evaluating the acquisition of the promoter stake in microfinance lender CreditAccess Grameen and may place a bid, sources told CNBC-TV18.
According to sources, the promoters of CreditAccess Grameen have initiated a process to sell their entire stake in the company. Promoter entity CreditAccess India BV currently holds a 66.28% stake in CreditAccess Grameen.
Sources further indicate that CreditAccess Grameen has likely appointed bankers to run the stake sale process. The company is understood to have mandated one foreign investment bank and one Indian investment bank for the transaction.
The value of the promoter stake is estimated at approximately ₹14,000 crore, and the market capitalisation is approximately ₹22,000 crore.
Axis Bank is among the potential bidders evaluating the opportunity, though no final decision has been taken at this stage, sources added.
CreditAccess Grameen is one of the leading microfinance institutions in the country, with a strong presence across rural and semi-urban markets. The company has a branch network of 2,222 branches and a customer base of around 44 lakh borrowers. As of the latest data, its assets under management (AUM) stand at approximately ₹26,000 crore.
CNBC-TV18 has written to CreditAccess Grameen and Axis Bank seeking comments. Responses are awaited.
Also Read: GCPL shares drop 6% after Q3 results but analysts remain optimistic
According to sources, the promoters of CreditAccess Grameen have initiated a process to sell their entire stake in the company. Promoter entity CreditAccess India BV currently holds a 66.28% stake in CreditAccess Grameen.
Sources further indicate that CreditAccess Grameen has likely appointed bankers to run the stake sale process. The company is understood to have mandated one foreign investment bank and one Indian investment bank for the transaction.
The value of the promoter stake is estimated at approximately ₹14,000 crore, and the market capitalisation is approximately ₹22,000 crore.
Sources further indicate that CreditAccess Grameen has likely appointed bankers to run the stake sale process. The company is understood to have mandated one foreign investment bank and one Indian investment bank for the transaction.
Axis Bank is among the potential bidders evaluating the opportunity, though no final decision has been taken at this stage, sources added.
CreditAccess Grameen is one of the leading microfinance institutions in the country, with a strong presence across rural and semi-urban markets. The company has a branch network of 2,222 branches and a customer base of around 44 lakh borrowers. As of the latest data, its assets under management (AUM) stand at approximately ₹26,000 crore.
CNBC-TV18 has written to CreditAccess Grameen and Axis Bank seeking comments. Responses are awaited.
Also Read: GCPL shares drop 6% after Q3 results but analysts remain optimistic
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