New Delhi: Non-banking financial company CreditAccess Grameen on Wednesday announced raising Rs 100 crore by issuing bonds on a private placement basis. “The stakeholders’ relationship committee, today, has approved allotment of 1,000 Non-Convertible Debentures (NCDs) each having a face value of Rs 10 lakh aggregating up to Rs 100 crore on private placement,” it said in a regulatory filing.

Besides, the board has also approved unaudited special purpose interim condensed standalone & consolidated financial results of the company and its subsidiaries for the four months period ended July 31.

The consolidated net profit was at Rs 121.24 crore in four months to July, while on standalone basis, the company earned Rs 109.39 crore as profit.

The company’s total income from operations for period ended July 31, 2020, stood at Rs 817.88 crore on consolidated basis and Rs 672.09 crore on standalone basis.

CreditAccess said these figures are only an extract of the condensed information for the said period, which have been prepared for a specific purpose.

Hence the comparable figures are not available for the said period.

The independent auditors’ report by Deloitte Haskins & Sells said the condensed financial information has been prepared by the company’s management solely in connection with the “proposed offering of the equity shares of the company”.

Further, the auditor said it is not a complete set of financial statements of the company and is not intended to give a true and fair view of the financial position of the company as of July 31, 2020, and of its financial performance (including other comprehensive income).

CreditAccess shares closed at Rs 703.90 apiece on BSE, up 2.55 per cent from the previous close.

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