Ugro Capital on Monday announced that the company's Investment and Borrowing Committee approved a fund raising of Rs 50 crore with an option to retain over-subscription up to Rs 50 crore, aggregating up to Rs 100 crore.
The NBFC will raise the funds via three series of different maturities and tenures. The proposed debentures will be listed on BSE and the National Stock Exchange.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 2,500 crore of equity & debt capital from marquee private equity investors, family offices, banks and other financial Institution over last 3 years.
The company reported a 46% declined in net profit to Rs 3.39 crore on a 118% jump in total income to Rs 85.26 crore in Q3 FY22 over Q3 FY21.
Shares of Ugro Capital traded 3.34% higher at Rs 185.5 on BSE.
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