UGRO Capital Withdraws Series 2 NCD Issue, Eyes Realignment of Funding Blueprint

Updated: December 22, 2025 22:43

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UGRO Capital Limited has decided to withdraw its proposed Series 2 Non-Convertible Debenture (NCD) issuance, which was earlier approved by its Investment and Borrowing Committee on December 17, 2025. The move, stemming from internal considerations, temporarily halts the planned fundraising through private placement of secured or unsecured listed NCDs.

UGRO Capital Limited has announced the withdrawal of its proposed Series 2 Non-Convertible Debenture (NCD) issue, a move that reverses a recent decision approved by its Investment and Borrowing Committee (IBC).

The company had earlier planned to raise funds through the private placement of listed, rated, and redeemable NCDs — both secured and unsecured — to strengthen its capital position. However, citing internal considerations, the management opted to retract the issuance plan mentioned in its board disclosure dated 17 December 2025.

While the exact reasons behind this decision remain undisclosed, market observers interpret it as a strategic pause, possibly linked to the company’s capital structure review or evolving funding priorities amid changing market dynamics.

Key Highlights

Decision Update: UGRO Capital withdraws the proposed issuance of Series 2 NCDs.

Earlier Approval: The IBC had approved the issue on December 17, 2025.

Issue Details: Planned as a listed, rated, senior, secured/unsecured private placement.

Reason: Internal considerations prompted the pullback.

Market Context: Can indicate a recalibration of funding strategies ahead of future issuances.

Sources: BSE Corporate Announcement, NSE News Filings.

Key Hiighlights

Decision Update: UGRO Capital withdraws the proposed issuance of Series 2 NCDs.
Earlier Approval: The IBC had approved the issue on December 17, 2025.
Issue Details: Planned as a listed, rated, senior, secured/unsecured private placement.
Reason: Internal considerations prompted the pullback.
Market Context: Can indicate a recalibration of funding strategies ahead of future issuances.

Sources: BSE Corporate Announcement, NSE News Filings.

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