Ugro Capital advanced 2.75% to Rs 153.20 after the NBFC announced that the investment and borrowing committee of the board will consider the proposal of fund raising on Saturday, 25 February 2023.
The company added that the funds will be raised by way of issuance of non-convertible debentures and/or commercial papers through 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 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.
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