Ugro Capital rallied 3.91% to Rs 280.20 after the company announced that the investment and borrowing committee of the board is scheduled to meet on Thursday, 7 March 2024 to consider and approve the proposal of fund raising.
The funds will be raised by way of issuance of non-convertible debentures (NCDs) 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 companys standalone net profit stood at Rs 32.53 crore in Q3 FY24, steeply higher than Rs 13.12 crore posted in Q3 FY23. Total income jumped 47.3% YoY to Rs 279.31 crore in Q3 FY24.
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