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The NCDs will be issued at face value of Rs 1,000. The issue opened on 7 April 2022 and it will close on 6 May 2022. The NCDs are proposed to be listed on BSE and National Stock Exchange of India.
The NCDs are available in three series and payment of coupon/dividend will be payable on quarterly basis in Series I (18 months) and on monthly basis in Series II (27 months) and Series III (36 months). Coupon for NCDs ranges from 10% to 10.40% per annum.
The NCDs offered under the issue have been rated “ACUITE A+" (Outlook: Stable) by Acuite Ratings and Research.
The company proposes to utilize at least 75% of the total estimated net proceed for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company; and upto 25% of the total estimated net proceed towards general corporate purposes.
Ugro Capital is a non-deposit taking systemically important NBFC registered with the RBI and the equity shares of the company are listed on NSE and BSE. Its provides financing to the MSME sector.
The company's net profit declined 46% to Rs 3.39 crore on 118% jump in total income to Rs 85.26 crore in Q3 FY22 over Q3 FY21.
Shares of Ugro Capital fell 1.96% to Rs 177.80 on Thursday.
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