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To pay additional interest to bond holders for CAR breach period: UGRO
On May 20th, 2025, UGRO has announced a capital raise of more than Rs. 1300 crore which would increase its capital adequacy from current 19.4 percent to 29.4 percent
Anupreksha Jain Mumbai
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UGRO Capital will pay additional interest to bondholders for breaching covenants related to the capital adequacy ratio, the company said in a response to Business Standard.
The non-banking finance company has requested a relaxation of the capital adequacy covenant, for which the trustee has written to bondholders.
'Trustees have called a bondholders' meeting on 23 May 2025 as per the guidelines, and in the said meeting, the company requested a waiver of the condition, keeping in view the likely completion of the fund raise by July 2025,' UGRO said.
'In terms of the trust deed, and as discussed in the
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