153 | Annual Report | 2023-2024 Note 24: Share capital (cont'd) (A) Equity share capital Particulars As at 31 March 2024 As at 31 March 2023 Number Amount Number Amount Issued, subscribed and fully paid up equity shares Equity shares of `10 each At the beginning of the year 12,11,77,303 12,117.73 12,01,77,303 12,017.73 Additions during the year (*) 3,62,35,017 3,623.50 10,00,000 100.00 Balance at the end of the year 15,74,12,320 15,741.23 12,11,77,303 12,117.73 (*) Additions made in equity shares during the year As at 31 March 2024 As at 31 March 2023 Number Amount Number Amount 1. Arohan ESOP Trust 7,00,000 70.00 10,00,000 100.00 2. On account of conversion of compulsorily convertible preference shares into equity shares (#) Teachers Insurance and Annuity Association of America (TIAA) 1,11,10,966 1,111.10 - - Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) 1,09,42,420 1,094.24 - - Danish Sustainable Development Goals Investment Fund K/S (IFU) 1,34,81,631 1,348.16 - - Total additions during the year 3,62,35,017 3,623.50 10,00,000 100.00 (#) The company has filed corporate action for conversion of compulsorily convertible preference shares into equity shares with the depositories on March 29, 2024; which got approved subsequent to the reporting date. (a) Reconciliation of number of equity shares issued to ESOP Trust outstanding at the beginning and at the end of the year Reconciliation of equity share capital As at 31 March 2024 As at 31 March 2023 Number Amount Number Amount Balance at the beginning of the year 42,98,115 1,875.20 33,15,395 341.45 Add: Equity shares issued to ESOP trust (*) 7,00,000 868.00 10,00,000 1,539.40 Less: Equity shares allotted to employees during the year (**) 30,003 9.81 17,280 5.65 Outstanding at the end of the year 49,68,112 2,733.39 42,98,115 1,875.20 (*) During the year ended March 31, 2024, the Company has issued 7,00,000 (March 31, 2023 : 10,00,000) equity shares of 10.00 each under the Arohan ESOP plan 2021 (grant 2023) aggregating to ` 868.00 Lakhs (March 31, 2023 : ` 1,539.40 lakhs) including premium. (**) During the year ended March 31, 2024, Arohan ESOP Trust has transferred 30,000 equity shares at `32.69/- to Mr. Prashant Rai under ESOP 2017 schemes of Arohan Financial Services Limited and 3 equity shares to Mr. Ketan Agrawal at `162.80/- under ESOP 2018 (grant 2019) schemes of Arohan Financial Services Limited (March 31, 2023: 17,280 equity shares at `32.69/- to Mr. Harshvardhan Patnaik under ESOP 2017 schemes of Arohan Financial Services Limited). (b) Terms and rights attached to equity shares: The Company has only one class of equity shares having a par value of `10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees, if any. The dividend proposed by the Board Arohan Financial Services Limited Notes to financial statements for the year ended March 31, 2024 (Contd.) (All amounts in ` lakhs unless otherwise stated)
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