UGRO Capital's Secured NCDs issue opens today

UGRO Capital Limited, an NBFC focused on MSME lending, today announced the issue of secured, rated, listed, redeemable, non-convertible debentures of the face value of ₹ 1,000 each. The Issue has a base issue size of ₹ 10,000 lakhs with an option to retain oversubscription up to ₹ 10,000 lakh, aggregating up to ₹ 20,000 lakh. The Issue opens on Thursday, April 3, 2025 and closes on Monday, April 21, 2025 with an option of early closure subject to compliance with Regulation 33A of the SEBI NCS Regulations.

The NCDs are proposed to be listed on the Stock Exchanges and NSE is the Designated Stock Exchange for the Issue. The NCDs have been rated "IND A+/Stable" by India Ratings and Research Private Limited. Securities with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations.

Tipsons Consultancy Services Private Limited is the sole lead manager to the issue and MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited) is the Registrar to the Issue and MITCON Credentia Trusteeship Services Limited is the debenture trustee to the Issue.

This issue has tenor of 18 months, 24 months, 30 months, and 42 months for secured NCDs. Effective yield (% per annum) for NCD holders in all Categories ranges from 10.47% to 11.01%. Redemption Amount (₹ / NCD) on maturity for NCD holders in all Categories range is ₹ 1000.

At least 75% of the Net proceeds of the Issue shall be utilized for the purpose of onward lending and financing business of the company in ordinary course of business (including for repayment / refinance of existing debts of the Company) and Not exceeding 25% shall be used for general corporate purposes.

As on December 31, 2024 UGRO Capital's CRAR, in accordance with the Limited Reviewed Financial Results was at 21.52%. Its AUM has grown from ₹2,96,890.60 lakh as of March 31, 2022, to ₹9,04,705.74 lakh as of March 31, 2024. As of December 31, 2024, the Company was operating from 23 prime branches and 201 Emerging Market branches with an AUM of ₹ 11,06,656.73 lakh and catering more than 1,35,000 lakh customers. Across the offered products, as on December 31, 2024, the average ticket size stood at ₹ 11.37 lakh and the portfolio yield stood at 16.65%.

Shares of Ugro Capital Ltd was last trading in BSE at Rs. 173.20 as compared to the previous close of Rs. 170.15. The total number of shares traded during the day was 11712 in over 319 trades.

The stock hit an intraday high of Rs. 174.20 and intraday low of 166.70. The net turnover during the day was Rs. 2005498.00.

Source : Equity Bulls

Keywords

UgroCapital INE583D01011 NBFC FundRaising SecuredNCDs