Ugro Capital advanced 3.22% to Rs 186 after the NBFC announced that the meeting of the investment and borrowing committee of the board is schedule on 26 August 2022 to consider raising funds.
The NBFC added that the funds will be raised by way of issuance of non-convertible debentures 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 reported a 331.8% surge in net profit to Rs 7.34 crore on a 141.4% jump in total income to Rs 123.80 crore in Q1 FY23 over Q1 FY22.
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