UGRO Capital Limited, an MSME-focused NBFC, has raised Rs 1,265 crore through the allotment of compulsory convertible debentures and warrants.
Existing private equity investor Samena Capital invested Rs 500 crore, while other institutional investors, including Aregence and India’s marquee family offices, also participated in the fundraise.
During a board meeting on May 2, the company’s board of directors approved an equity capital raise of Rs 1,332.66 crore.
“Our aim has always been to build a data-tech driven lending institution that is institutionally owned, independently supervised, and professionally managed, accessible to public market investors. We’re now closer to our goal of helping all small businesses in India …,” said Shachindra Nath, Founder and Managing Director of UGRO Capital.
Earlier, in May, UGRO Capital had announced the board approval for the acquisition of MyShubhLife for an enterprise value of Rs 45 crore through a combination of 64:36 equity-cash transaction. Bengaluru-based embedded finance platform MyShubhLife will now operate as a wholly-owned subsidiary of UGRO Capital.
UGRO Capital Limited is a data-driven lending platform in India, providing customised loans to SMEs across sectors and co-lending partnerships with major banks and NBFCs.
Edited by Swetha Kannan
