Ugro Capital is considering a fundraising on December 11

Ugro Capital announced on Wednesday that the company’s board of directors will meet on Saturday, December 11 to consider a fundraiser.

In an exchange document released on Sunday, Ugro Capital said: The Board of Directors’ Investment and Lending Committee meeting is scheduled to be held on Saturday, December 11, 2021 to review and approve the fundraising by way of issuance of non-convertible securities. Debentures on a private placement basis.

Ugro Capital is an MSME lending fintech platform. It uses the emerging data tripod of the GST, banks and bureaus coupled with its sector analysis to solve the credit problem for small businesses. 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.

Ugro Capital’s net profit declined 80.33% to Rs 3.38 crore on an 80.07% increase in total income to Rs 62.70 crore in Q2 FY22 compared to Q2 FY21.

Shares of Ugro Capital were trading 1.22% higher at Rs 198.80 on BSE.

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

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