Ugro Capital on Wednesday announced that the meeting of the Investment and Borrowing Committee of the board is scheduled on 14 March 2022 to consider and approve raising of funds.
The NBFC said that the fund raising will be executed by issuance of Non-Convertible Debentures (NCDs) on private placement basis.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 has raised about Rs 2,500 crore of equity & debt capital from marquee private equity investors, family offices, banks and other financial Institution over last 3 years.
The company reported a 46% declined in net profit to Rs 3.39 crore on a 118% jump in total income to Rs 85.26 crore in Q3 FY22 over Q3 FY21.
Shares of Ugro Capital were trading 3.77% higher at Rs 180.50 on BSE.
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