|
Trident has availed loans from 22 institutions consisting of Banks (Public Sector, Private Sector and foreign Banks), Development Financial Institutions like SIDBI and other financial institutions. The Company was doing very well till the AP Government promulgated an Ordinance in October, 2010, severely restricting the microfinance business in the state. More than 80% of the outstanding portfolio of the Company is situated in AP. Hence, its operations were affected severely.
The Company, along with other MFIs in the state sought a Debt Restructuring Package under CDR mechanism which was sanctioned in June, 2011. The lenders had converted 25% of the outstanding debt (as on 31.03.2011) into equity and another 25% into preference shares. Accordingly the share holding pattern of the Company underwent a change. The major institutional shareholders as on date are as under:
S.No |
Name of Share Holder |
1 |
SAGE Seva Society |
2 |
Trident Employees Benefit Trust |
|
