Ugro Capital’s board of directors to consider fundraising on January 13

Ugro Capital announced on Monday that the company’s board of directors will meet on Thursday, January 13, 2022 to consider fundraising.

In a publicly filed document, the company said, the board’s investment and borrowing committee meeting is expected to be held on Thursday, January 13, 2022 to review and approve the fundraising through the issuance of non-convertible debentures. on the basis of a private placement.

Shares of Ugro Capital were trading 1.81% higher at Rs 208.50 on BSE.

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.

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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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