New Delhi, UGRO Capital, an NBFC focused on MSME lending, on Tuesday announced the successful completion of its equity capital raising and allotment of compulsorily convertible debentures (CCDs) and warrants worth Rs 1,265 crore.
UGRO said in a statement that the company's board had approved raising equity capital of Rs 1,332.66 crore during a board meeting on May 2, 2024.
UGRO Capital received shareholder approval on June 1, 2024, a period filled with uncertainty surrounding the election results and resulting market fluctuations.
"However, investor commitment to UGRO remained strong. All investors invested their entire money in UGRO, except those who were disqualified for regulatory reasons."
The company successfully allotted CCDs worth Rs 258 crore and warrants worth Rs 1,007 crore with the support of existing private equity investor Samina Capital, which contributed Rs 500 crore through warrants.
These warrants can be exercised within 18 months from the date of allotment, with customers required to pay 25 per cent of the issue price now and the remaining amount payable after 18 months, it said, adding that this capital raise is the third for UGRO Capital. Is.
UGRO said in a statement that the company's board had approved raising equity capital of Rs 1,332.66 crore during a board meeting on May 2, 2024.
UGRO Capital received shareholder approval on June 1, 2024, a period filled with uncertainty surrounding the election results and resulting market fluctuations.
"However, investor commitment to UGRO remained strong. All investors invested their entire money in UGRO, except those who were disqualified for regulatory reasons."
The company successfully allotted CCDs worth Rs 258 crore and warrants worth Rs 1,007 crore with the support of existing private equity investor Samina Capital, which contributed Rs 500 crore through warrants.
These warrants can be exercised within 18 months from the date of allotment, with customers required to pay 25 per cent of the issue price now and the remaining amount payable after 18 months, it said, adding that this capital raise is the third for UGRO Capital. Is.
