The investment and borrowing committee of the company's board has approved an issuance of 5,000 non-convertible debentures (NCDs) aggregating to Rs 50 crore including a green shoe option of upto 2,500 NCDs worth upto Rs 25 crore.
In a regulatory filing, the NBFC said that the investment and borrowing committee of its board has approved an issuance of 2,500 senior, secured, rated, listed, redeemable, taxable, transferable NCDs, each having a face value of Rs 1 lakh aggregating to Rs 25 crore with a green shoe option of up to 2,500 NCDs, each having a face value of 1 lakh aggregating to Rs 25 crore on a private placement basis.
The said NCDs have a coupon rate of 10.50% per annum. The tentative allotment date for the NCD is 8 March 2023. The tenure of the instrument is 36 months from date of allotment and the tentative maturity date is 8 March 2026. The debentures are proposed to be listed on the BSE.
Further, the board also approved the issuance of commercial papers (CP) to the tune of Rs 25 crore for a period of 120 days. The company issued CPs having a face value of Rs 5 lakh each, could be allotted on 2 March 2023 and its tentative redemption date being 30 June 2023.
Subsequently, the company's board also approved CPs worth Rs 25 crore of face value of Rs 5 lakh each for a period of 123 days. The tentative allotment date for the short term debt instrument is 3 March 2023 and the tentative redemption date is 4 July 2023.
Meanwhile, the investment and borrowing committee of the company's board has approved the allotment of 2,000 senior, secured, rated, listed, redeemable, taxable, transferable non-convertible debentures (NCDs) having a face value of Rs 1 lakh each aggregating up to Rs 20 crore on a private placement basis.
These NCDs have a coupon rate of 10% per annum and shall be redeemed at par.
The tenure of the instrument is 18 months from the date of allotment and the maturity date is 24 August 2024. The said debentures are proposed to be listed on the BSE.
Ugro Capital is an MSME lending fintech platform. It uses the emerging data tripod of GST, banking and bureau coupled with its sectoral analysis to solve the problem of credit for small businesses.
The company net profit soared 287% to Rs 13.12 crore on 122.6% jump in total income to Rs 189.59 crore in Q3 FY23 over Q3 FY22.
Shares of Ugro Capital declined 0.91% to end at Rs 151.90 on Friday, 24 February 2023.
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