Bharat Financial Inclusion shareholders nod for bond issue

The shareholders of Bharat Financial Inclusion has approved a proposal to raise funds via non-convertible debentures or other securities.
The company would raise money through these bonds within overall borrowing limit of Rs 12,500 crore, Bharat Financial Inclusion, formerly SKS Microfinance, said in a BSE filing today.
The resolution to approve issue and allotment of Non- Convertible Debentures and other debt securities on private placement basis was approved by the shareholders in annual general meeting held today, the company said.
The shareholders also approved the proposal to enhance employee stock options pool by 27,50,000 stock options and amendments in the SKS Microfinance Employee Stock Employee Option Plan 2011.

It was proposed to increase the maximum number of stock options that may be issued under the ESOP Plan 2011 from 13,50,000 stock options to 41,00,000 stock options by addition of 27,50,000 stock options to the ESOP Pool, the filing said.
The proposal to change of the company's employee stock option plan name from SKS Microfinance Employees Stock Option Plan 2011 to Bharat Financial Inclusion Employee Stock Option Plan 2011 also got shareholders' approval.