| 154 Annual Report | 2023-2024 Financials of Directors is subject to the approval of the shareholders in the ensuing general meeting. During the financial year the Company has not proposed/ declared any dividend on equity shares. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. (c) No additional shares were allotted as fully paid-up by way of bonus shares or pursuant to contract without payment being received in cash during the financial year. Further, none of the shares were bought back by the Company during the financial year. (d) Shareholding of promoters Shares held by promoters at the end of the year As at 31 March 2024 As at 31 March 2023 % change during the year Promoter name No. of shares % of total shares No. of shares % of total shares 1. Aavishkaar Venture Management Services Private Limited 2,34,26,590 14.88% 2,40,95,182 19.88% (5.00%) 2. Intellectual Capital Advisory Services Private Limited 1,64,72,146 10.46% 1,64,72,146 13.59% (3.13%) (e) Details of shareholders holding more than 5% shares Particulars As at 31 March 2024 As at 31 March 2023 Number percentage (%) Number percentage (%) Equity shares of `10 each Aavishkaar Venture Management Services Private Limited 2,34,26,590 14.88% 2,40,95,182 19.88% Aavishkaar Goodwell India Microfinance Development Company II Limited 1,85,39,529 11.78% 1,85,39,529 15.30% Tano India Private Equity Fund II 1,66,87,029 10.60% 1,66,87,029 13.77% Intellectual Capital Advisory Services Private Limited 1,64,72,146 10.46% 1,64,72,146 13.59% Maj Invest Financial Inclusion Fund II 1,54,01,267 9.78% 1,54,01,267 12.71% Danish Sustainable Development Goals Investment Fund K/S (IFU) 1,34,81,631 8.56% - - Teachers Insurance And Annuity Association Of America (TIAA) 1,17,79,558 7.48% - - Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) 1,16,11,012 7.38% - - TR Capital III Mauritius 97,18,722 6.17% 97,18,722 8.02% Note 24: Share capital (cont'd) 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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