UGRO Capital Board to Weigh New NCD Issue via Private Placement for Fundraising

UGRO Capital, a DataTech-focused NBFC specialising in MSME financing, is set to evaluate a fresh NCD issuance through private placement to raise additional debt capital. The move follows a series of structured debt raises, including earlier secured NCD issues and commercial paper allotments, aimed at optimising its funding mix and cost of capital.​

Key highlights

Fund-raise plan: Investment and Borrowing Committee to meet to consider issuance of NCDs via private placement for incremental funding.​

Structure & tenure: Past issuances have involved listed, rated, senior secured NCDs, with coupons up to about 9.9% and tenors ranging 15 months to multi-year, indicating likely contours of the new raise.​

Business use: Proceeds expected to support MSME loan book growth, strengthen liquidity, and diversify borrowing sources amid rising demand for small business credit.​

Sources: Company exchange intimations, ICICI Direct debt updates, Elite Wealth note, Business Standard corporate report.