CreditAccess Grameen Limited to make further investment in Madura Micro Finance Ltd

CreditAccess Grameen Limited has announced further investment by the Company in Madura Micro Finance Limited (MMFL), a Material Subsidiary, up to an aggregate sum of Rs.250 Crores (Rupees Two Hundred and Fifty Crores Only). The Board of Directors at their meeting held today, i.e., on December 21, 2021, have considered and approved further investment in MMFL in the form of Subordinate Debt or Perpetual Debt Instruments (PDIs) or both, up to Rs. 250 Crore, in tranches, in order to support capital adequacy requirement of MMFL, subject to applicable Laws, Rules & Regulations.

Shares of CREDITACCESS GRAMEEN LIMITED was last trading in BSE at Rs. 623.05 as compared to the previous close of Rs. 615.95. The total number of shares traded during the day was 3525 in over 658 trades.

The stock hit an intraday high of Rs. 650.65 and intraday low of 602.05. The net turnover during the day was Rs. 2224072.00.

Source : Equity Bulls

Keywords

CREDITACCESSGRAMEEN INE741K01010 MaduraMicroFinance Investment