UGRO CAPITAL Limited public issue of secured, rated, listed, redeemable, non-convertible debentures (secured ncds) opens today effective annualized yield up to 11.03% per annum#

Secured NCDs of face value (“Face Value”) of Rs. 1,000 each.  

∙The Issue is for an amount of ₹ 10,000 lakhs (“Base Issue Size”) with an option to retain   oversubscription up to ₹ 10,000 lakhs (green shoe option) aggregating up to ₹ 20,000 lakhs. 

∙ Rated as “IND A/Stable” by India Ratings & Research Private Limited. 

∙ Effective annualized yield up to 11.03% p.a#.  

∙The Issue opens on Thursday, February 08, 2024 and closes on Wednesday, February 21, 2024   with an option of  early closure subject to compliance with Regulation 33A of the SEBI NCS   Regulations. 

∙ The NCDs are proposed to be listed on BSE and NSE (collectively, “Stock Exchanges”). 

UGRO Capital Limited is currently engaged in the business of lending and primarily deals  in financing SME and MSME sector. The company has announced the issue of secured, rated, listed, redeemable,  non-convertible debentures of the face value of ₹ 1,000 each. The Issue opens on Thursday, February 08, 2024 and  closes on Wednesday, February 21, 2024 with an option of early closure subject to compliance with Regulation 33A  of the SEBI NCS Regulations.  

The Issue has a base issue size of ₹ 10,000 lakhs with an option to retain oversubscription up to ₹ 10,000 lakhs,  aggregating up to ₹ 20,000 lakhs. The NCDs are proposed to be listed on the Stock Exchanges and NSE is the  Designated Stock Exchange for the Issue. The NCDs have been rated “IND A/Stable” by India Ratings & Research  Private Limited. 

JM Financial Limited is the sole lead manager to the issue and Link Intime India Private Limited is the Registrar to the  Issue and Mitcon Credentia Trusteeship Services Limited is the debenture trustee to the Issue. 

This issue has tenor of 18 months, 24 months, and 27 months for secured NCDs. Effective yield (% per annum) for  NCD holders in all Categories ranges from 10.72% to 11.03%. Redemption Amount (₹ / NCD) on maturity for NCD  holders in all Categories range is ₹ 1000 and for Series III it is through Staggered Redemption in eight (8) quarterly  payments of ₹ 125 each, starting from 1st quarter from the deemed date of allotment until maturity. 

At least 75% of the Net proceeds of the Issue shall be utilized for the purpose of onward lending and financing  business of the company in ordinary course of business (including for repayment / refinance of existing borrowings) and Not exceeding 25% shall be used for general corporate purposes. 

As on March 31, 2023 its CRAR, in accordance with the Audited Financial Results was at 20.23% and for the nine  months period ended December 31, 2023 stood at 22.27%.  

UGRO’s AUM has grown from ₹ 1316.87 crore as at March 31, 2021 and ₹ 2969.80 crores as at March 31, 2022 to ₹ 6080.71 crore as at March 31, 2023. As of December 31, 2023, our AUM is at ₹8363.76 crore. Across the offered