UGRO Capital to raise up to Rs 915 crore through preferential CCD issue

UGRO Capital's board approves Rs 915 crore capital raise via CCDs; capital adequacy to improve from 19.41% to 29.4%, with rights issue of Rs 400 crore also planned

UGRO Capital on Tuesday said its board has approved raising up to Rs 915 crore through a preferential issue of compulsorily convertible debentures (CCDs).

 

Post the capital raise, UGRO’s capital adequacy is expected to improve to 29.4 per cent from 19.41 per cent at the end of FY25, providing significant headroom for growth.

 

In June 2024, UGRO Capital had raised capital commitments of Rs 258 crore through CCDs and Rs 1,007 crore through warrants, totalling Rs 1,265 crore. These instruments were issued at a conversion price of Rs 264 per share. The new CCDs will be issued at