Ugro Capital today announced its second capital raise since inception. UGRO Capital's Board of Directors have approved a preferential allotment of Rs 240 crore to IFU (Investeringsfonden for Udviklingslande) through its Danish Sustainable Development Goals Investment Fund K/S. The equity fund raise is subject to customary closing conditions, including regulatory and shareholder approvals.

UGRO Capital is simultaneously raising up to Rs 101 crore from long term shareholders like insurance companies, AIF, and other financial institutions through a Qualified Institutions Placement (QIP) of up to Rs 101 crore.