UGRO Capital Raises INR 1,265 Crores Amidst General Elections

UGRO Capital Limited successfully completed an equity capital raise of INR 1,265 Crore during a period of market uncertainty due to the Indian general elections. The capital raise included the allotment of Compulsory Convertible Debentures (CCD) and warrants, with significant investments from private equity firm Samena Capital and other institutional investors.

UGRO Capital Limited (NSE: UGROCAP) (BSE: 511742), a prominent DataTech NBFC specializing in MSME lending, has successfully completed an equity capital raise of INR 1,265 Crore. This move comes amid significant market uncertainties tied to the Indian general elections.

Receiving shareholder approval on June 1, 2024, UGRO Capital's raise includes Compulsory Convertible Debentures (CCD) worth INR 258 Crores and warrants worth INR 1,007 Crores. Major contributions came from Samena Capital, committing INR 500 Crores through warrants, alongside other substantial institutional investments from Aregence and numerous Indian family offices.

UGRO Capital's innovative DataTech-driven approach continues to set it apart, with founder and Managing Director Mr. Shachindra Nath emphasizing the investor trust and the company's goal to support small businesses in India. Since its inception, UGRO has raised a total of INR 2,700 Crores in equity capital and partnered with 13 banks to extend finance to over 78,000 MSMEs across the country.

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