The price band for the IPO was Rs 418 to Rs 422 per share. At the top end of the price band, CreditAccess will have post-issue market capitalisation of Rs 60.5 billion.
The IPO was priced at nearly three times its 2017-18 book value (post-issue basis) and nearly 35 times its 2017-18 earnings. The IPO closes on Friday.
"The near term looks great for Grameen, thanks to huge capital infusion and strong growth. However, the long term needs hard thinking - demonetisation has illustrated that even well run MFIs can lose 5 per cent to 10 per cent of assets in crisis," Antique Stock Broking had said in a note advising its clients to 'avoid' the IPO.