The NBFC said that the investment and borrowing committee has approved an issuance of 700 rated, senior, secured, listed, transferable, redeemable, principal protected market linked non-convertible debentures, each having a face value of Rs 10 lakh an aggregate face value of Rs 70 crore including a green shoe option of upto 200 rated, senior, secured, listed, transferable, redeemable, principal protected market linked non-convertible debentures, each having a face value of 10 lakh and an aggregate face value of Rs 20 crore, at premium with an issue price of Rs 10,40,706 per debenture on a private placement basis.

The tentative allotment date for the NCD is 27 September 2022. The tenure of the instrument is 15 months and 27 days from date of allotment. Meanwhile, the maturity date for the NCD is 23 January 2024.

The company said that the debenture will be redeemed at par i.e. Rs 10 lakh being face value of each NCD on the maturity date.

Ugro Capital is an MSME lending fintech platform. It uses the emerging data tripod of GST, banking and bureau coupled with its sectoral analysis to solve the problem of credit for small businesses.

The company reported a 331.8% surge in net profit to Rs 7.34 crore on a 141.4% jump in total income to Rs 123.80 crore in Q1 FY23 over Q1 FY22.

Shares of Ugro Capital were up 0.10% to Rs 196.90 on the BSE.