UGRO Capital Raised INR 1,265 Cr Through Allotment of CCDs and Warrants UGRO Capital also announced the acquisition of MyShubhLife, a finance platform based in Bengaluru, for INR 45 crore.
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UGRO Capital Limited, a leading non-banking financial company (NBFC) focused on small and medium-sized enterprises (MSMEs), has successfully raised INR 1,265 crore through the allotment of compulsory convertible debentures (CCDs) and warrants.
This fundraising round saw significant participation from existing and new investors. Samena Capital, a prominent private equity investor, contributed INR 500 crore to the funding round. Other notable investors included Aregence, and several of India's marquee family offices also participated.
"Securing this capital raise amidst market ups and downs speaks volumes about the sheer trust our investors have in us. Our aim has always been to build a data-driven lending institution that is institutionally owned, independently supervised, professionally managed, and accessible to public market investors," said Shachindra Nath, Founder and Managing Director of UGRO Capital.
On May 2, 2024, UGRO Capital's Board of Directors gave the green light to raise INR 1,332.66 crore in equity capital. Additionally, UGRO Capital announced the acquisition of MyShubhLife, a finance platform based in Bengaluru, for INR 45 crore. This deal, which is a mix of 64% equity and 36% cash, means that MyShubhLife will now become a wholly-owned subsidiary of UGRO Capital.
Since its inception in 2018, UGRO Capital has successfully managed to raise a total equity capital of INR 2,700 crore. Currently, the company holds an outstanding total debt of INR 4,643 crore from both domestic and global institutions. The company has partnerships with 13 banks and financial institutions, facilitating INR 3,295 crore in co-lending. The company has provided customized, data-driven financial solutions to over 78,000 MSMEs across India.
"We are now closer to our goal of helping all small businesses in India, and I have an overwhelming sense of gratitude towards all our investors, partners, and the entire UGRO team for making it happen." Shachindra Nath, Founder and Managing Director of UGRO Capital, added.
