New Delhi: Non-banking major Ugro Capital on Thursday said its board has approved the acquisition of financial services platform MyShubhLife at an enterprise value of Rs 45 crore in a cash and equity deal.
The board also approved raising equity capital of Rs 1,322 crore through compulsorily convertible debentures (CCDs) and warrants. Equity fundraising is subject to shareholder approval.
Ugro said this capital raising received strong commitment from Samena Capital, one of the company's existing private equity investors, which committed Rs 500 crore through warrants.
In a separate statement, Ugrow Capital said, "The Board of Directors approved the acquisition of 'MyShubhLife' (MSL), a leading Embedded Finance Fintech platform headquartered in Bengaluru, for an enterprise value of Rs 45 crore through a combination of 64 Has: 36 equity cash transaction, making it a wholly owned subsidiary.,
Ugro Capital is a datatech NBFC focused on MSME lending, while MSL specializes in offerings tailored for small shopkeepers and distributors.
Distinguished by its unique products featuring overdraft facility as well as daily and weekly installments options, MSL exhibits strong underwriting and distribution capabilities, enabling it to provide customized credit solutions to last-mile retailers and distributors, the statement said. Places in specific position to do.
The platform has already sourced over 15 million merchants through Enco partners engaged in consumer technology.
It has already partnered with Pine Labs, Fino, Airtel Payments Bank, MobiKwik Spice Money and EasyPay for merchant financing.
When Gozo invested in the Series B round, MSL was valued at Rs 240 crore.Its major investors include Gozo, Saama Capital IV Ltd, BEENEXT2 Pte Ltd and others.
Shares of Ugro Capital closed at Rs 283.55, up 7.83 per cent from its previous close on BSE.
The board also approved raising equity capital of Rs 1,322 crore through compulsorily convertible debentures (CCDs) and warrants. Equity fundraising is subject to shareholder approval.
Ugro said this capital raising received strong commitment from Samena Capital, one of the company's existing private equity investors, which committed Rs 500 crore through warrants.
In a separate statement, Ugrow Capital said, "The Board of Directors approved the acquisition of 'MyShubhLife' (MSL), a leading Embedded Finance Fintech platform headquartered in Bengaluru, for an enterprise value of Rs 45 crore through a combination of 64 Has: 36 equity cash transaction, making it a wholly owned subsidiary.,
Ugro Capital is a datatech NBFC focused on MSME lending, while MSL specializes in offerings tailored for small shopkeepers and distributors.
Distinguished by its unique products featuring overdraft facility as well as daily and weekly installments options, MSL exhibits strong underwriting and distribution capabilities, enabling it to provide customized credit solutions to last-mile retailers and distributors, the statement said. Places in specific position to do.
The platform has already sourced over 15 million merchants through Enco partners engaged in consumer technology.
It has already partnered with Pine Labs, Fino, Airtel Payments Bank, MobiKwik Spice Money and EasyPay for merchant financing.
When Gozo invested in the Series B round, MSL was valued at Rs 240 crore.Its major investors include Gozo, Saama Capital IV Ltd, BEENEXT2 Pte Ltd and others.
Shares of Ugro Capital closed at Rs 283.55, up 7.83 per cent from its previous close on BSE.
