On June 30, CreditAccess Grameen shares plunged 6% in the early trade post following large deals on the bourses. Around one crore shares, or a 6.5% stake, worth Rs 1,277 crore, changed hands on the exchanges.

As per media reports, the promoter CreditAccess India BV planned to sell up to a 5.8% stake worth Rs 1,107 crore in the microfinance firm.
The base price for the block deal was Rs 1,230 per share. According to the company’s shareholding data, Dutch firm CreditAccess India BV held a 73.68% stake in CreditAccess Grameen.

At 9:31 am, CreditAccess Grameen shares were trading 5.4% lower at Rs 1,254.5 on the NSE.
CreditAccess Grameen shares zoomed over 12% in the past 10 sessions. The company signed a $200-million external commercial borrowing (ECB) contract. This deal signifies the first social ECB loan in the country’s microfinance industry and the fourth originating from India.

The Bengaluru-headquartered NGO-turned-microlender is the major micro-financer in its loan book, with AUM amounting to Rs 16,540 crore as of September.

The company also revealed its plan to have Rs 500 billion worth of assets, reflecting a 20-25% CAGR (Compounded Annual Growth Rate) over the next four-five years, from Rs 200 billion in March.