Ugro Capital aims to lift up Rs. 135 crore by issuance of NCDs
Data tech lending platform has announced that, they are planning to raise up to Rs. 135 crore by issuing non-convertible debentures (NCDs). The board of the company conducted a meeting on May 18, 2024, and during the meeting company's Board of Directors approved the issuance.
Reportedly, Ugro Capital will issue up to 3,500 Senior, Secured, Rated, Listed, Redeemable, Transferable NCDs, each with a face value of Rs. 1 lakh, totaling Rs 35 crore.
Moreover, they have approved issuing up to 10,000 similar NCDs with a face value of Rs. 1 lakh each, counting all these together the fund will go up to Rs. 100 crore. This will include a green shoe option which will raise upto 5000 NCDs worth Rs. 50 crore. This debenture will be utilized in dematerialized form on a private placement basis.
The probable dates of the issuance of these NCDs have been fixed. For the issuance of Rs. 35 crore, the expected allotment date is July 16, 2024. Besides, the NCDs worth Rs. 100 crore, including the green shoe option, are scheduled to be alloted on June 14, 2024. These dates are very crucial for those investors who are looking o participate in the private placement.
Additionally, beside issuing NCD, Ugro Capital has recently approved the acquisition of financial services platform MyShubhLife, a, for an enterprise value of Rs. 45 crore. The process of acquisition will be completed through a combination of 64% equity and 36% cash. It will make MyShubhLife a wholly-owned subsidiary of Ugro Capital.
Ugro capital is a noteworthy fintech organisation, committed to lending to micro, small, and medium enterprises (MSMEs). Through technological advancements Ugro is aiming to provide innovative and context-specific credit products to underserved sectors
Founder and CEO of MyShubhLife, Monish Anand mentioned, "Our primary objective is to employ technology as a catalyst for offering contextual and innovative credit products to small-scale shopkeepers and distributors across the nation."
Ugro Capital will also raise Rs. 1,322 crore through Compulsory Convertible Debentures (CCD) and warrants. They will also raise capital worth Rs.500 crore through warrants from Samena Capital, which is a noted private equity investor.The company’s founder, board members, and management team will raise Rs.16.25 crore through warrants.
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Reportedly, Ugro Capital will issue up to 3,500 Senior, Secured, Rated, Listed, Redeemable, Transferable NCDs, each with a face value of Rs. 1 lakh, totaling Rs 35 crore.
Moreover, they have approved issuing up to 10,000 similar NCDs with a face value of Rs. 1 lakh each, counting all these together the fund will go up to Rs. 100 crore. This will include a green shoe option which will raise upto 5000 NCDs worth Rs. 50 crore. This debenture will be utilized in dematerialized form on a private placement basis.
The probable dates of the issuance of these NCDs have been fixed. For the issuance of Rs. 35 crore, the expected allotment date is July 16, 2024. Besides, the NCDs worth Rs. 100 crore, including the green shoe option, are scheduled to be alloted on June 14, 2024. These dates are very crucial for those investors who are looking o participate in the private placement.
Additionally, beside issuing NCD, Ugro Capital has recently approved the acquisition of financial services platform MyShubhLife, a, for an enterprise value of Rs. 45 crore. The process of acquisition will be completed through a combination of 64% equity and 36% cash. It will make MyShubhLife a wholly-owned subsidiary of Ugro Capital.
Ugro capital is a noteworthy fintech organisation, committed to lending to micro, small, and medium enterprises (MSMEs). Through technological advancements Ugro is aiming to provide innovative and context-specific credit products to underserved sectors
Founder and CEO of MyShubhLife, Monish Anand mentioned, "Our primary objective is to employ technology as a catalyst for offering contextual and innovative credit products to small-scale shopkeepers and distributors across the nation."
Ugro Capital will also raise Rs. 1,322 crore through Compulsory Convertible Debentures (CCD) and warrants. They will also raise capital worth Rs.500 crore through warrants from Samena Capital, which is a noted private equity investor.The company’s founder, board members, and management team will raise Rs.16.25 crore through warrants.
