CreditAccess Grameen has received approval for the acquisition of an additional 13,350 equity shares of MMFL constituting 0.19% of the fully paid up equity share capital of Madura Micro Finance (MMFL).
Pursuant thereto, the aggregate number of equity shares of MMFL that the Company proposes to acquire would be around 54.92 lakh equity shares constituting 76.34% of MMFL’s fully diluted paid-up equity share capital.
CreditAccess Grameen is a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. Its wide range of lending products addresses the critical needs of its customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.
