Ugro Capital raises Rs 24 crore via commercial paper
The investment and borrowing committee of the company’s board on Friday, 3 June 2022, allotted 480 commercial paper (CP) of face value Rs 5 lakh each, aggregating to Rs 24 crore, through private placement basis.
The commercial paper was issued on 3 June 2021 and the redemption date for the short term debt instrument is 1 December 2022. The tenure of the paper is 181 days.
Ugro Capital is an MSME lending fintech platform. It uses the emerging data tripod of GST, banking and bureau coupled with its sectoral analysis to solve the problem of credit for small businesses.
The company reported a 292.9% surge in net profit to Rs 6.09 crore on a 134.8% jump in total income to Rs 114.23 crore in Q4 FY22 over Q4 FY21.
Shares of Ugro Capital fell 2.53% to close at Rs 150.30 on Friday, 3 June 2022.
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