Ugro Capital Plans Up to ₹5 Bn NCD Issue to Bolster Lending Firepower

Non-banking financial company Ugro Capital Ltd informed exchanges of its board's approval to issue NCDs aggregating up to ₹2 billion, with flexibility to accept oversubscription up to an additional ₹3 billion, taking the total potential raise to ₹5 billion. This debt instrument issuance targets fixed-income investors seeking stable returns.

NCDs provide Ugro with cost-effective, long-term funding without equity dilution, ideal for expanding its specialized lending portfolios in MSME loans, construction equipment finance, and enterprise credit. The move aligns with the company's strategy to scale assets under management amid India's economic recovery and credit upcycle.

Proceeds will enhance liquidity for new originations and sustain competitive growth.

Key Highlights:

Base Issue Size: NCDs worth up to ₹2 billion.

Oversubscription: Option to retain up to ₹3 billion more (total ₹5 billion).

Instrument: Non-Convertible Debentures (fixed income).

Purpose: Fund MSME, vehicle, and enterprise lending expansion.

Strategic Benefit: Cost-efficient capital without equity dilution.

Source: Company filing to BSE/NSE, December 17, 2025.