Ugro Capital advanced 3.22% to Rs 186 after the NBFC announced that the meeting of the investment and borrowing committee of the board of directors is scheduled for August 26, 2022 to consider raising funds.
NBFC added that the funds will be raised through the issuance of non-convertible debentures by private placement.
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 reported a 331.8% increase in net profit to Rs 7.34 crore on a 141.4% jump in total revenue to Rs 123.80 crore in Q1 FY23 compared to Q1 FY22.
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First published: Wednesday, August 24, 2022. 09:43 IST