UGRO Capital, a company that uses data technology to help small businesses get loans, announced on Monday that it will sell new shares at INR 162 each to raise INR 400 crore.
The company made this announcement after its Securities Allotment & Transfer Committee agreed on the final details of the rights issue.
According to the company’s statement, UGRO Capital will sell new shares worth up to INR 400 crore, with each share priced at INR 162.
This offer gives all current public shareholders a fair chance to keep their ownership percentage and avoid losing value while the company grows and improves its data technology to help small businesses in India better.
The company set June 5 as the date to check which shareholders can take part in the offer. The share sale will be open from June 13 to June 20, but it could be extended for up to 30 more days. Currently, UGRO Capital has 9.32 crore shares available.
UGRO Capital said this share sale is based on the company’s recent success, with assets growing to INR 12,003 crore and profit before tax more than doubling to INR 203 crore in the year 2024-25 while keeping a strong financial position.
“At UGRO Capital, we are consistently adding INR 3,000 crore in AUM year-on-year. Given the strong growth momentum and steady portfolio quality we are witnessing, this capital raise would ensure that our growth trajectory remains unhindered… Our growing AUM and profitability, coupled with a strengthened capital adequacy ratio post this infusion, position UGRO to scale its credit delivery and support the financial needs of small businesses across India,” said Shachindra Nath, Founder & Manager.
The company said it has already received promises to invest more than INR 250 crore in the share sale. This includes INR 150 crore from IFU (Investment Fund for Developing Countries, Denmark) and INR 34 crore from the company’s promoters, promoter group, and employees.
On May 20, UGRO Capital announced plans to raise INR 915 crore by issuing special convertible debentures (CCDs) and also to offer up to INR 400 crore worth of new shares to its current public shareholders.
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