Axis Bank is planning to buy CreditAccess Grameen, which is one of India’s largest microfinance companies. The main owner of the company, CreditAccess India BV from the Netherlands, wants to sell its share in the business. They have been planning to exit for the last 2–3 years because the investment fund that put money into the company is coming to an end. So now, they are looking for a buyer to sell their stake and move out.
Axis Bank has already made an offer to buy the promoter’s big share (66.28%) in the company. If this deal goes through, Axis Bank may later buy the remaining shares as well. This would make CreditAccess Grameen fully owned by Axis Bank and it would become a subsidiary (a company controlled) by Axis Bank.
