Unnati Microfinance proposes 25% right shares; Book close for AGM on 6 Chaitra

102nd BoD meeting of Unnati Microfinance has proposed an issuance of 25% right shares to its share holders.

The company has also announced 6th Chaitra as book closure date for its 3rd AGM . The 3rd AGM will be held on 21st Chaitra, 2074. Shareholders having the shares at the time of bookclose will be eligible to participate in the upcoming AGM.

The right shares worth Rs 1.375 crores (i.e. 25% of 5.50 crores) will be issued by the company. The decision is however subject to approval from regulatory body and AGM.  Unnati Microfinance currently has a paid up capital of Rs 5.50 crores. It had recently floated an IPO of Rs 1.65 crores. Unnati's Paid-up capital will escalate to Rs 6.875 crores after the right issue.  

Unnati had earned a decent net profit of Rs 1.16 crores in the 2nd quarter of fy 2074/75.