U GRO Capital appoints Smita Aggarwal as additional independent director

U GRO Capital, a MSME lending fintech platform, on Monday announced the appointment of Smita Aggarwal as additional independent director of the company. 

She has three decades of experience in finance as a banker, lender, regulator and an investor. She is also a member of the Board of Directors of IIFL Asset Management Company and guest faculty at the Stern School of Business, New York University.

“We are delighted to welcome Ms. Smita Aggarwal to U GRO Capital’s board as an independent director. U GRO have been focusing on Impact & ESG extensively, she has done extensive work around digital financial inclusion space and we are confident that her addition to the Board would sharpen U GRO’s focus in these areas,” said Shachindra Nath, executive chairman and managing director of U GRO Capital.

"This is an exciting time for U GRO Capital, as it is rapidly approaching its Vision 2025 growth targets and surpassing significant milestones in doing so, which also becomes a source of excitement to me," said Smita Aggarwal,

U GRO Capital’s AUM had risen to Rs 2,589 crore and its branch network stood at 82 and it has recorded the highest monthly disbursements at Rs 414 crore in December 2021. The customer base recently crossed the 16,500 mark.

The company has raised Rs 2,500 crore of equity and debt capital from marquee private equity investors, family offices, banks and other financial institution over last 3 years.

On Monday, the company's scrip on NSE closed nearly 1% higher at Rs 172.