MUMBAI: Microfinance firm
CreditAccess Grameen plans to launch its up to Rs 1,500 crore initial public offering (IPO) in early August.
The IPO consists of fresh issuance of shares through which the microlender plans to raise Rs 900 crore and an offer for sale by the promoter - CreditAccess Asia.
"We have received final approval from
Sebi for the IPO and we plan to hit the market in early August," a company spokesperson said.
CreditAccess Asia owns 99 per cent stake in the microfinance company.
ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital Company are the book running lead managers to the offer.