CreditAccess eyes secured loans segment
- CreditAccess Grameen plans to raise up to ₹500 crore through a public issue of secured, redeemable, non-convertible debentures of the face value of ₹1,000 each
Mumbai: Microlender CreditAccess Grameen plans to foray into secured lending segments like mortgages, gold loans and two-wheeler loans, in an attempt to diversify its product base, Udaya Kumar Hebbar, managing director and chief executive said on Wednesday.
“We do secured loans but it is very small. Maybe, in five years, we may be doing ₹5,000-6,000 crore of non-microfinance loans and a majority of this will be secured loans,” said Hebbar.
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