U GRO Capital Ltd's NCD issue to open on Sep 5, 2022

U GRO Capital Limited, NBFC engaged in the lending business and focused on the MSME sector in India, has announced the issue of Rated, Secured, Senior, Listed, Transferable, Redeemable, Non-Convertible Debentures of the face value of Rs. 1,000/- each. The Issue opens on September 05, 2022 and closes on September 22, 2022.

The Issue has a base issue size of Rs. 50 crores with an option to retain oversubscription up to Rs 50 crores, aggregating up to Rs. 100 crores. The NCDs are proposed to be listed on Stock Exchanges with NSE as the Designated Stock Exchange for the Issue. The NCDs have been rated CRISIL A-/Stable by CRISIL Ratings Ltd. and Acuite A+/Stable by Acuite Ratings and Research Limited.

This issue has tenure of 18 months, 27 months, and 36 months for secured NCDs with the series I, II, III. Effective yield (per annum) for NCD holders in Category I (Institutional Investors), Category II (Non-Institutional Investors) Category III (HNI Investors) and Category IV (Retail Individual Investors) holders ranges from 10.52% to 11.01%. Interest payments modes are Quarterly and Monthly. Amount on maturity for NCD holders in Category I, II, III and IV is Rs 1000/-.

Net proceeds of the Issue will be utilized for the purpose of onward lending, repayment of interest and principal of existing borrowings and for general corporate purposes or general corporate purposes.

As on June 30, 2022 its CRAR, in accordance with the Financial Statements was at 27.93%.


The Lead Managers to the Issue are Sundae Capital Advisors Private Limited and Tipsons Consultancy Services Private Limited; Link Intime India Private Limited is the registrar and IDBI Trusteeship Services Limited is the debenture trustee to the issue.

Source : Equity Bulls

Keywords

UGROCapital Secured NCDs FundRaising INR100Crores Subscription