UGRO Capital Limited NCD (UGRO Capital NCD February 2024) Detail

February 8, 2024 - February 21, 2024

Incorporated in 1993, UGRO Capital Limited is a non-deposit-taking systemically important NBFC firm registered with the RBI. The company is engaged in the lending business and focuses on the MSME sector in India.

The company provides loans to SMEs and MSMEs focusing on the healthcare, education, chemicals, food processing/FMCG, hospitality, electrical appliances and components, automotive accessories and light engineering segments, and micro-enterprises segments.

The company's service list includes:

Prime Secured Loans;
Prime Unsecured Loans;
Micro Enterprise Loans;
Machinery Loans;
Supply Chain Finance;
Partnership and Alliances

UGRO Capital has divided its customers into two branches: The Prime branch and the Micro branch. The prime branch is based in the metro, tier-1, and tier-2 cities and has a customer turnover of ₹1 crore to ₹15 crore. Micro-branch is based in tier 3 to 6 cities with a customer turnover of less than Rs. 1 crore.

As of December 31, 2023, the Company had a total AUM of Rs. 8,36,376.40 lacs and employed 1,541 people.

UGRO Capital NCD February 2024 Detail

Issue Open	February 8, 2024 - February 21, 2024
Security Name	UGRO Capital Limited
Security Type	Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)	Rs 100.00 Crores
Issue Size (Oversubscription)	Rs 100.00 Crores
Overall Issue Size	Rs 200.00 Crores
Issue Price	Rs 1000 per NCD
Face Value	Rs 1000 each NCD
Minimum Lot size	10 NCD
Market Lot	1 NCD
Listing At	BSE, NSE
Credit Rating	IND A/Stable by India Ratings & Research Private Limited
Tenor	18, 24 and 27 months
Series	Series I to V
Payment Frequency	Monthly, Quarterly and Annually
Basis of Allotment	First Come First Serve Basis
Debenture Trustee/s	Mitcon Credentia Trusteeship Services Limited

NCD Allocation Ratio

Category	NCD's Allocated
Institutional	10%
Non-Institutional	10%
HNI	40%
Retail	40%

NCD's Offered by Category

Category	NCD's Reserved
Institutional	100,000
Non-Institutional	100,000
HNI	400,000
Retail	400,000
Total NCD's	1,000,000

UGRO Capital Limited NCD Coupon Rates

#	Series 1	Series 2	Series 3	Series 4	Series 5
Frequency of Interest Payment	Monthly	Annual	Quarterly	Monthly	Annual
Nature	Secured	Secured	Secured	Secured	Secured
Tenor	18 Months	18 Months	24 Months	27 Months	27 Months
Coupon (% per Annum)	10.25%	10.75%	10.35%	10.50%	11.00%
Effective Yield (% per Annum)	10.72%	10.82%	10.74%	11.01%	11.03%
Amount on Maturity (In Rs.)	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00

NCD Rating

The NCDs proposed to be issued under the Issue have been rated "IND A/Stable" for an amount of ₹20,000 lakh by India Ratings & Research Private Limited.

Company Financials

UGRO Capital Limited Financial Information (Restated)

UGRO Capital Limited's revenue increased by 118.16% and profit after tax (PAT) rose by 173.37% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,330.69	4,305.59	2,854.23	1,750.89
Revenue	471.98	683.76	313.42	153.34
Profit After Tax	54.13	39.78	14.55	28.73
Net Worth	1,404.92	984.04	966.56	952.44
Total Borrowing		3,148.93	1,801.84	765.69
Amount in ₹ Crore

Objects of the Issue

The following table details the objects of the Issue and the amount proposed to be financed from the Net Proceeds:

For onward lending and financing business of the Company in the ordinary course of business (including for repayment / refinance of existing debts of the Company).
General corporate purposes.

UGRO Capital NCD February 2024 Prospectus

› Draft Prospectus
› Red Herring Prospectus

UGRO Capital NCD February 2024 Subscription Status

The UGRO Capital NCD February 2024 was subscribed 2.11 times on February 21, 2024 5:00:00 PM. The NCD subscribed 1.50 times in Retail, 1.47 times in HNI, 9.20 times in Non-Institutional, and 0.00 times in the Institutional category.

Category ?	Subscription (times)
Retail	1.50x
HNI	1.47x
Non-Institutional	9.20x
Institutional	0.00x
Total	2.11x

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UGRO Capital NCD February 2024 Rating

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Company Contact Information

UGRO Capital Limited
Equinox Business Park, Tower 3,
Fourth Floor, Off BKC,
LBS Road, Kurla,Mumbai - 400070

Phone: +91 22 4182 1600
Email: cs@ugrocapital.com
Website: http://www.ugrocapital.com/

UGRO Capital NCD February 2024 Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: ugrocapital.ncd2023@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html