Inditrade Capital picks 67% stake in Tree Microfinance

Inditrade Capital has made investment in Tree Microfinance, pursuant to which it has been allotted 36,85,000 equity shares at the rate of Rs 10 (constituting 67% of the paid up capital) in Tree Microfinance. Consequently, Tree Microfinance has become a subsidiary of the company.

The company had earlier on April 29, 2016 received board’s approval to invest an amount of up to Rs 4 crore in Tree Microfinance, a company proposing to enter the business of microfinance.

Inditrade Capital (formerly JRG Securities) is one of the foremost brokerage houses, being a member of various exchanges in the capital and commodity markets and the insurance sector.