UGRO Capital's Successful Rs 1,265 Crore Equity Raise Amid Market Fluctuations
UGRO Capital, an NBFC focused on MSME lending, announced the successful completion of its equity capital raise totaling Rs 1,265 crore. The company faced market uncertainty but secured the funds with strong investor commitment, including a significant contribution from Samena Capital.
- Country:
- India
UGRO Capital, a notable non-banking financial company (NBFC) specializing in MSME lending, has triumphantly concluded its equity capital raise and allotted Compulsory Convertible Debentures (CCD) and warrants totaling Rs 1,265 crore.
This significant financial maneuver received board approval on May 2, 2024, amidst fluctuating market conditions driven by electoral uncertainties. UGRO Capital announced securing shareholder approval on June 1, 2024.
Undeterred by the market volatility, the fundraiser saw robust investor participation, with only those disqualified due to regulatory reasons abstaining. Notably, existing private equity investor Samena Capital committed Rs 500 crore through warrants, contributing significantly to the raise. These warrants can be exercised within 18 months, reflecting strong investor confidence in UGRO Capital's strategic direction.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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