U GRO Capital Limited’s Public Issue of Secured Redeemable Non-Convertible Debentures gets oversubscribed by 1.44x times

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U GRO Capital Limited’s Public Issue of Secured Redeemable Non-Convertible Debentures gets oversubscribed by 1.44x times.

U GRO Capital Limited (“U Gro Capital”/ “Company”) a non-deposit taking systemically important NBFC registered with the RBI has successfully closed its NCD public issue and the issue was oversubscribed 1.44x times on the base issue of INR 50 crore and was majorly raised from a very granular retail base of close to 3,000 retail investors. Successful closure of this public issues reinforces investor confidence in the UGRO business model and its overall vision and mission.

UGRO has diversified its lender base to 60+ lenders and to support its rapid scale of growth it has expanded its borrowing sources to various products including Term loans, NCDs (Public and Private Placement), NCD – MLDs, Impact Funds and CPs

Among new age MSME lenders, UGRO’s NCD public issue is one of the most successful public debt transactions.

With a successful business track record U GRO Capital has been able to establish itself as a marquee name in MSME lending segment within a very short span of time.

U GRO Capital is one of the fastest growing MSME fintech companies in India, during FY22 the company has disbursed gross loans of INR 3,100+ Cr and has reached a scale of INR 2,972 Cr of AUM (125% + Y-o-Y growth). It has built formidable distribution strength which can support disbursement volumes of INR 700 + Cr M-o-M.

Business Gujarat News

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