Arohan Financial Services Limited | Annual Report 2022-23

| 148 Annual Report | 2022-2023 Financial Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March 2023 (Contd.) (All amounts in ` lakhs unless otherwise stated) Note 23: Share capital (Contd.) (d) Shareholding of promoters Shares held by promoters at the end of the year (e) Details of shareholders holding more than 5% shares Particulars As at 31 March 2023 As at 31 March 2022 Number % Number % Equity shares of ` 10 each Aavishkaar Venture Management Services Private Limited 2,40,95,182 19.88% 2,47,63,774 20.61% Aavishkaar Goodwell India Microfinance Development Company II Limited 1,85,39,529 15.30% 1,85,39,529 15.43% Tano India Private Equity Fund II 1,66,87,029 13.77% 1,69,14,279 14.07% Intellectual Capital Advisory Services Private Limited 1,64,72,146 13.59% 1,64,72,146 13.71% Maj Invest Financial Inclusion Fund II 1,54,01,267 12.71% 1,54,01,267 12.82% TR Capital III Mauritius 97,18,722 8.02% 97,18,722 8.09% Promoter name As at 31 March 2023 As at 31 March 2022 % change during the year No. of shares % of total shares No. of shares % of total shares 1. Aavishkaar Venture Management Services Private Limited 2,40,95,182 19.88% 2,47,63,774 20.61% (0.72%) 2. Intellectual Capital Advisory Services Private Limited 1,64,72,146 13.59% 1,64,72,146 13.71% (0.11%) (B) Compulsorily convertible preference shares Particulars As at 31 March 2023 As at 31 March 2022 Number Amount Number Amount Issued, subscribed and fully paid up compulsorily convertible preference shares Compulsorily convertible preference shares of ` 10 each At the beginning of the year - - - - Additions during the year (**) 2,92,11,177 2,921.12 - - Balance at the end of the year 2,92,11,177 2,921.12 - - (**) Additions made in compulsorily convertible preference shares during the year As at 31 March 2023 As at 31 March 2022 Number Amount Number Amount Teachers Insurance and Annuity Association of America (TIAA) (#) 1,85,00,412 1,850.04 - - Nederlandse Financierings-Maatschappij Voor Ontwik- kelingslanden N.V. (FMO) (#) 1,07,10,765 1,071.08 Total additions during the year 2,92,11,177 2,921.12 - - Note: Subsequent to the reporting date the Company have further allotted 77,89,648 compulsorily convertible preference shares of ` 10/- each to Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) at a price of ` 85/- (including securities premium of ` 75/- per share) aggregating to ` 6,621.20 Lakhs. (#) The Company proposes a dividend @ 0.001% on compulsory convertible preference shares which is recommended by the Board of Directors for approval by the Shareholders in the ensuring Annual General meeting.