Ugro Capital announced that its investment and borrowing committee of the board has allotted 300 units of commercial paper (CP), aggregating to Rs 15 crore.
The commercial paper having face value of Rs 5 lakh allotted on 10 March 2023 will be mature on 7 March 2024. The said instrument has an interest rate of 9.65% per annum. The tenure of the CP is 363 days.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 287% to Rs 13.12 crore on 122.6% jump in total income to Rs 189.59 crore in Q3 FY23 over Q3 FY22.
The scrip was down 1.60% to settle at Rs 156.65 on Friday, 10 March 2023.
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