Ugro Capital to issue ₹100 crore subordinated debentures

Ugro Capital announced its plan to issue up to ₹1,00,00,00,000 in unsecured, rated, subordinated, listed, taxable, redeemable non-convertible debentures (NCDs) via private placement. The issuance also includes a green shoe option for an additional ₹1,00,00,00,000, bringing the total potential issuance to ₹2,00,00,00,000. Each NCD will have a face value of ₹1,00,000.

The NCDs, which will be listed on BSE Limited, have a tentative tenure of 66 months with an expected allotment date of September 15, 2025, and maturity on March 15, 2031. They offer a tentative coupon/interest rate of 11.65% per annum, payable on a monthly basis.

This capital raise aims to augment the company's Tier II capital, aligning with the Reserve Bank of India’s (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023.