75 | Annual Report | 2023-2024 Also, the shareholders of the Company in the Extra Ordinary General Meeting held on March 19, 2024 approved the increase in Authorised Share Capital of the Company from INR 2,25,00,00,000/- (Indian Rupees Two Hundred Twenty Five Crores Only) consisting of 22,50,00,000 (Twenty Two Crore Fifty Lakhs) shares of INR 10/- (Indian Rupees Ten only) each divided into 14,50,00,000 (Fourteen Crores and Fifty Lakhs) Equity shares of INR 10/- (Indian Rupees Ten Only) each and 8,00,00,000 (Eight Crore) Compulsorily Convertible Preference Shares of INR 10/- (Indian Rupees Ten Only) each to INR 2,75,00,00,000/- (Indian Rupees Two Hundred and Seventy Five Crores Only) consisting of 27,50,00,000 (Twenty Seven Crores and Fifty Lakhs) shares of INR 10/- (Indian Rupees Ten Only) each divided into 19,50,00,000 (Nineteen Crores and Fifty Lakhs) Equity shares of INR 10/- (Indian Rupees Ten Only) each and 8,00,00,000 (Eight Crores) Compulsorily Convertible Preference Shares of INR 10/- (Indian Rupees Ten Only) each. Further, the Directors of the Company through resolution by way of circulation passed on March 22, 2024 converted 6,05,30,236 (Six Crores Five Lakhs Thirty Thousand Two Hundred and Thirty Six) Cumulative Compulsorily Convertible Preference Shares into 3,55,35,017 (Three Crores Fifty Five Lakhs Thirty Five Thousand and Seventeen) Equity Shares ranking pari-passu with the existing Equity Shares of the Company and the same was allotted to such shareholders as more particularly mentioned in the table here in below: Sl. No. Allottees No. of CCPS No. of Equity Shares allotted 1 Teachers Insurance and Annuity Association of America – ("TIAA") 1,85,00,412 1,11,10,966 2 Nederlandse FinancieringsMaatschappij Voor Ontwikkelingslanden N.V. ("FMO") 1,07,10,765 63,35,085 3 Nederlandse FinancieringsMaatschappij Voor Ontwikkelingslanden N.V. ("FMO") 77,89,648 46,07,335 4 Danish Sustainable Development Goals Investment Fund K/S, represented by Investment Fund for Developing Countries (“IFU”) 2,35,29,411 1,34,81,631 Total 6,05,30,236 3,55,35,017 During the year under review and with reference to the above transactions, the issued, subscribed and paidup equity share capital of the Company stands at INR 1,57,41,23,200 (Rupees One Hundred and Fifty Seven Crores Forty One Lakhs Twenty Three Thousand and Two Hundred Only) comprising of 15,74,12,320 (Fifteen Crores Seventy Four Lakhs Twelve Thousand Three Hundred And Twenty) Equity Shares of INR 10 (Indian Rupees Ten Only) each. NON CONVERTIBLE DEBENTURES Further during the year, the Company has issued and allotted 20,800 Non-Convertible Debentures having face value of INR 1,00,000 (Indian Rupees One Lakh Only) per debenture aggregating to INR 208,00,00,000 (Indian Rupees Two Hundred and Eight Crores Only) to Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V (FMO) on December 19, 2023 on preferential basis. DIVIDEND The Board of Directors has declared dividend at the rate of 0.001% (zero point zero zero one percent) per annum to the Cumulative Compulsory Convertible Preference Shareholders of the Company during the year under review. Post 31st March, 2024, an amount of INR 6,239 (Indian Rupees Six Thousand Two Hundred and Thirty Nine Only) has been paid to CCPS holders within the timelines specified under the Companies Act, 2013. DIRECTORS, KEY MANAGERIAL PERSONNEL AND SENIOR MANAGEMENT PERSONNEL Directors During the year under review, Mr. Anurag Agrawal (DIN: 02385780) Nominee Director of the Company, who was liable to retire by Rotation in terms of Section 152 of the Companies Act, 2013 and Articles of Association of the Company, was reappointed as the Director of the Company in the 32nd Annual General Meeting held on August 07, 2023. Further, Mr. Paul Gratien Robine (DIN: 07828525) and Mr. Shri Ram Meena (DIN: 08452187) had resigned from their directorship w.e.f May 12, 2023 whereas Mr. Vemuru Chandramouli (DIN: 07019218) and Mr. Aditya Mohan (DIN: 08299455) were appointed as Nominee Director
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