Asha Laghubitta proposes 100% right shares; SGM endorses to jack up paid-up capital to Rs 14 crore

Asha Laghubitta has convened its Special General Meeting (SGM) through which the microfinance institution has decided to jack up its existing authorized capital of Rs 10 crore to Rs 20 crore. The SGM has also endorsed the decision to issue 100% right shares to its existing shareholders to increase its paid up capital of Rs 7 crore to Rs 14 crore. Issuing the statement, the microfinance has informed that its customer base has reached more than 28.5 thousand with its credit portfolio of Rs 1.01 arba and deposit collection figure of Rs 18.02 crore. The institution is providing microcredit facilities to needy population in 23 districts through 35 branches, as per the statement.