In an exchange filing on Sunday, Ugro Capital said, “The meeting of the Investment and Borrowing Committee of the board of directors is scheduled to be held on Saturday, 11 December 2021 to consider and approve raising of funds by way of issuance of Non-Convertible Debentures on private placement basis.”

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 has raised about Rs 2500 crore of equity & debt capital from marquee private equity investors, family offices, banks and other financial Institution over last 3 years.

Net profit of Ugro Capital declined 80.33% to Rs 3.38 crore on 80.07% rise in total income to Rs 62.70 crore in Q2 FY22 over Q2 FY21.

Shares of Ugro Capital were trading 1.22% higher at Rs 198.80 on BSE.