Hot Pursuit     07-Jun-23
Ugro Capital board allots NCDs worth Rs 25 cr
Ugro Capital announced that the investment and borrowing committee of its board has allotted 2,500 non-convertible debentures (NCDs) aggregating to Rs 25 crore through private placement basis.
The senior, secured, rated, listed, redeemable, transferable NCDs having face value of Rs 1 lakh each allotted on 6 June 2023 will mature on 6 December 2024. Theses instruments have an interest rate of 10.25% per annum to be paid quarterly.

The company said that the debentures are proposed to be listed on Bombay Stock Exchange (BSE).

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 net profit soared 130.5% to Rs 14.04 crore on 92.4% jump in total income to Rs 217.16 crore in Q4 FY23 over Q4 FY22.

Shares of Ugro Capital declined 0.49% to Rs 231.80 on the BSE.

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