Latest news with #UGROCapital
Time of India
a day ago
- Business
- Time of India
UGRO Capital fixes Rs 162 per share for Rs 400-cr rights issue
UGRO Capital , a data-tech driven MSME financing NBFC, on Monday said it has fixed a price of Rs 162 per share for its Rs 400-crore rights issue. The announcement comes after the company's Securities Allotment & Transfer Committee approved the final terms of its rights issue. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perché le docce walk-in sono una scelta ideale per gli anziani Vasche da bagno | Ricerca annunci Scopri di più Undo Under the approved terms, UGRO Capital will offer new equity shares totalling up to Rs 400 crore at a price of Rs 162 per share, according to a statement issued by the company. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. This pro-rata offering ensures that all existing public shareholders have a fair opportunity to maintain their stake and guard against dilution as the company continues to expand its balance sheet and deepen its data-tech advantage in serving India's underserved MSMEs, it added. The company has fixed June 5 as the record date for eligibility. The issue will remain open from June 13 to June 20, with a possible extension of up to 30 days. As of now, UGRO Capital has 9.32 crore equity shares outstanding. Live Events UGRO Capital said the rights issue builds on the company's recent performance, which saw assets under management growing to Rs 12,003 crore and profit before tax more than double to Rs 203 crore in FY2024-25, while maintaining a healthy capital adequacy ratio . "At UGRO Capital , we are consistently adding Rs 3,000 crore in AUM year-on-year. Given the strong growth momentum and steady portfolio quality we are witnessing, this capital raise would ensure that our growth trajectory remains unhindered... Our growing AUM and profitability, coupled with a strengthened capital adequacy ratio post this infusion, position UGRO to scale its credit delivery and support the financial needs of small businesses across India," Shachindra Nath, Founder & Managing Director of UGRO Capital, said. The company said commitments totalling over Rs 250 crore, including Rs 150 crore from IFU (Investment Fund for Developing Countries, Denmark), and Rs 34 crore from the promoter, promoter-group and employees, are already in place in the rights issue. On May 20, UGRO Capital announced a Rs 915 crore preferential compulsory convertible debentures (CCD) issuance and a concurrent proposal to offer up to Rs 400 crore on a rights basis to existing public shareholders. PTI
Economic Times
a day ago
- Business
- Economic Times
UGRO Capital fixes Rs 162 per share for Rs 400-cr rights issue
UGRO Capital, a data-tech driven MSME financing NBFC, on Monday said it has fixed a price of Rs 162 per share for its Rs 400-crore rights issue. ADVERTISEMENT The announcement comes after the company's Securities Allotment & Transfer Committee approved the final terms of its rights issue. Under the approved terms, UGRO Capital will offer new equity shares totalling up to Rs 400 crore at a price of Rs 162 per share, according to a statement issued by the company. This pro-rata offering ensures that all existing public shareholders have a fair opportunity to maintain their stake and guard against dilution as the company continues to expand its balance sheet and deepen its data-tech advantage in serving India's underserved MSMEs, it added. The company has fixed June 5 as the record date for eligibility. The issue will remain open from June 13 to June 20, with a possible extension of up to 30 days. As of now, UGRO Capital has 9.32 crore equity shares outstanding. UGRO Capital said the rights issue builds on the company's recent performance, which saw assets under management growing to Rs 12,003 crore and profit before tax more than double to Rs 203 crore in FY2024-25, while maintaining a healthy capital adequacy ratio. ADVERTISEMENT "At UGRO Capital, we are consistently adding Rs 3,000 crore in AUM year-on-year. Given the strong growth momentum and steady portfolio quality we are witnessing, this capital raise would ensure that our growth trajectory remains unhindered... Our growing AUM and profitability, coupled with a strengthened capital adequacy ratio post this infusion, position UGRO to scale its credit delivery and support the financial needs of small businesses across India," Shachindra Nath, Founder & Managing Director of UGRO Capital, said. The company said commitments totalling over Rs 250 crore, including Rs 150 crore from IFU (Investment Fund for Developing Countries, Denmark), and Rs 34 crore from the promoter, promoter-group and employees, are already in place in the rights issue. On May 20, UGRO Capital announced a Rs 915 crore preferential compulsory convertible debentures (CCD) issuance and a concurrent proposal to offer up to Rs 400 crore on a rights basis to existing public shareholders. PTI
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Business Standard
3 days ago
- Business
- Business Standard
UGRO Capital announces Rs 400 crore rights issue at Rs 162 per share
UGRO Capital on Saturday announced a Rs 400 crore rights issue at Rs 162 per share, the company said in a press release. The board had on May 20 announced a Rs 915 crore of preferential compulsorily convertible debentures (CCD) issuance and a concurrent proposal to offer up to Rs 400 crore on a rights basis to existing public shareholders. Under the approved terms, this pro-rata offering ensures that all existing public shareholders have a fair opportunity to maintain their stake and guard against dilution as the company continues to expand its balance sheet and deepen its DataTech advantage in serving India's underserved micro, small and medium enterprises (MSMEs), the press release said. Shachindra Nath, founder and managing director of UGRO Capital, said, 'We are consistently adding Rs 3,000 crore in AUM (asset under management) year-on-year. This capital raise would ensure that our growth trajectory remains unhindered. Our growing AUM and profitability, coupled with a strengthened capital adequacy ratio post this infusion, position UGRO to scale its credit delivery and support the financial needs of small businesses across India.' The rights issue builds on the company's recent performance, which saw assets under management grow to Rs 12,003 crore and profit before tax more than double to Rs 203 crore in the financial year 2024-25 (FY25), while maintaining a healthy capital adequacy ratio. InCred Capital and SNG & Partners are serving as financial advisor and legal advisor, respectively, for this rights issue as well as for equity capital raise. In addition to preferential allotment, in the proposed rights issue, IFU, the investment fund for developing countries, a Danish impact investor which is an affiliate of Danish government and existing investor of UGRO owning 16.35 per cent, have committed Rs 150 crore, UGRO Capital said. Promoter, promoter group and employees have also reaffirmed their commitment by contributing Rs 34 crore via CCD and rights issue, it added.
Business Standard
7 days ago
- Business
- Business Standard
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 Listen to This Article 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
Entrepreneur
21-05-2025
- Business
- Entrepreneur
UGRO Capital Approves INR 915 Crore Capital Raise via Compulsorily Convertible Debentures
The new CCDs will be issued at a conversion price of INR 185 per share, significantly lower than the INR 264 conversion price set during UGRO's previous capital raise in June 2024, when the company secured INR 258 crore via CCDs and INR 1,007 crore through warrants. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. UGRO Capital, a DataTech-driven NBFC focused on MSME financing, has announced a preferential issue of Compulsorily Convertible Debentures (CCDs) amounting to INR 915 crore, following approval by its Board of Directors. The move is aimed at accelerating the company's growth trajectory and expanding its lending capabilities in the underserved MSME segment. The announcement was made via a press release. The new CCDs will be issued at a conversion price of INR 185 per share, significantly lower than the INR 264 conversion price set during UGRO's previous capital raise in June 2024, when the company secured INR 258 crore via CCDs and INR 1,007 crore through warrants. The latest infusion is expected to lift UGRO Capital's capital adequacy ratio from 19.41 per cent at the close of FY25 to 29.4 per cent, providing a substantial buffer to support its expansion plans. The company's assets under management (AUM) doubled from INR 6,081 crore in FY23 to INR 12,003 crore in FY25. During the same period, profit before tax surged from INR 84 crore to INR 203 crore, while return on assets (ROA) improved from 1.3 per cent to 2.9 per cent (excluding Emerging Market branch expansion impact). Shachindra Nath, managing director of UGRO Capital, said, "UGRO has delivered strong operating performance. I am thankful for all of the existing shareholders and warrant holders for committing a significant amount of capital to UGRO which would ensure that UGRO continues on its growth journey." The preferential allotment has drawn major commitments from institutional investors. Samena Capital and its private equity funds, which already hold a 7.49 per cent stake in UGRO, have committed up to INR 500 crore, positioning them as a leading institutional shareholder. Singapore-based public market investor Aregence has committed INR 168 crore, while several prominent family offices have also participated. To ensure equitable participation for retail investors, UGRO's board has also approved a rights issue of up to INR 400 crore. The terms will be finalized in an upcoming board meeting. IFU, the Danish Government's impact fund and an existing investor with a 16.35 per cent stake, has pledged INR 150 crore toward the rights Issue. Promoters and employees have jointly committed INR 34 crore via both CCDs and the rights Issue.
