UGRO Capital raises Rs 250 crore from ADB for small businesses, shares up

Arushi Mishra Updated - January 31, 2024 at 02:34 PM.

UGRO Capital, bridging the credit gap in India’s MSME sector, has provided credit to around 90,000 small businesses over the past five years.

With an asset under management of Rs 8,363.8 crore as of December 2023, the UGRO Capital has raised Rs 9,137.8 crore in equity and debt from diverse institutional sources.

Ugro Capital Ltd. announced raising Rs 250 crore through Non-Convertible Debentures from the Asian Development Bank. The company reported the investment is ADB’s commitment to fostering inclusive, resilient, and sustainable prosperity by supporting small businesses at the grassroots level.

The company had previously secured financing of Rs 250 crore through NCDs from FMO, the Dutch entrepreneurial development bank, in December 2023. Over the past five years, the company reported that UGRO Capital has played a role in bridging the credit gap in India’s MSME sector, providing credit to approximately 90,000 small businesses.

As of December 2023, UGRO Capital has an asset under management of Rs 8363.8 crore. Over the last five years, it has raised Rs 9137.8 crore in equity and debt from diverse institutional sources.

The shares were up 1.28 per cent to Rs 280.15 at 2.19 pm on the BSE.

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Published on January 31, 2024 09:04

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