Ugro Capital rises as board to mull fund raising via NCDs

Image
Capital Market
Last Updated : Aug 24 2022 | 10:04 AM IST

Ugro Capital advanced 3.22% to Rs 186 after the NBFC announced that the meeting of the investment and borrowing committee of the board is schedule on 26 August 2022 to consider raising funds.

The NBFC added that the funds will be raised by way of issuance of non-convertible debentures through private placement basis.

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 331.8% surge in net profit to Rs 7.34 crore on a 141.4% jump in total income to Rs 123.80 crore in Q1 FY23 over Q1 FY22.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 24 2022 | 9:43 AM IST

Next Story