Ugro Capital board eyes March 25 fundraising

Ugro Capital announced on Tuesday that the meeting of the investment and borrowing committee of the board of directors is scheduled for Friday, March 25, 2022 to review and approve the fundraising.

NBFC said the fundraising will be executed through the issuance of non-convertible debentures (NCDs) on a private placement basis.

Ugro Capital is a fintech MSME lending platform. It uses the emerging data tripod of GST, banking and office coupled with its industry analysis to solve the small business credit problem. The company has raised approximately Rs 2,500 crore in equity and debt capital from reputable private investors, family offices, banks and other financial institutions over the past 3 years.

The company reported a 46% decline in net profit to Rs 3.39 crore on a 118% jump in total revenue to Rs 85.26 crore in Q3 FY22 from Q3 FY21.

Shares of Ugro Capital were trading up 3.65% to Rs 191.8 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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