Latest news with #KVSrinivasan
Time of India
8 hours ago
- Business
- Time of India
Lender UGRO to buy Profectus in ₹1.4k cr deal
Lender UGRO to buy Profectus in ₹1.4k cr deal MUMBAI: UGRO Capital, a tech-driven non-bank lender focused on MSMEs, will acquire Profectus Capital in a Rs 1,400 crore all-cash transaction. The acquisition, funded through UGRO's recent equity raise, is subject to regulatory approvals and will result in Profectus becoming a wholly owned subsidiary. UGRO Capital was founded in 2017 by Shachindra Nath, a financial services professional with over 26 years of experience. The company uses data analytics and technology to serve small businesses and operates through more than 240 branches. It has built co-lending partnerships with 17 banks and NBFCs, positioning itself as a key player in MSME financing. Profectus Capital, also established in 2017 by K V Srinivasan, specialises in secured lending to small businesses, particularly in the education sector. TNN Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
New Indian Express
17 hours ago
- Business
- New Indian Express
Ugro acquires Profectus Capital in Rs 1,400 crore all-cash deal
MUMBAI: Small businesses focused non-bank lender Ugro Capital has announced the takeover of Profectus Capital for Rs 1,400 crore under which it will acquire 100% of shares of from the promoters of Profectus. Post this all-cash deal, Profectus will become a wholly owned subsidiary of Ugro, the company said in a statement Tuesday. Ugo expects the acquisition to add around Rs 150 crore to its annual profit. The acquisition will also drive Ugro's loan book by 29% helping it diversify the loan portfolio such as school financing, secured loan against property, machinery finance, and supply chain finance. Profectus has a assets under management up to Rs 3,468 crore as of March 2025, with presence across seven states through a 28-branch network and over 800-member team, said Shachindra Nath, founder and managing director of Ugro and KV Srinivasan, chief executive of Profectus.
