UGRO Capital's committee approves ₹300 crore NCD issuance

UGRO Capital Limited announced today that its Investment and Borrowing Committee has approved the issuance of up to ₹3,00,00,00,000 (Indian Rupees Three Hundred Crores) in listed, rated, senior, secured, transferable, redeemable Non-Convertible Debentures (NCDs). Each NCD will have a face value of ₹10,000 and will be issued under three different series via a private placement. The company also retains an option to retain oversubscription of up to ₹1,50,00,00,000 (Indian Rupees One Hundred and Fifty Crores) through a greenshoe option.

The NCDs will be listed on BSE Limited. The three series offer varying tenures and interest rates: Series I (15 months) with 9.50% p.a., Series II (24 months) with 9.75% p.a., and Series III (42 months) with 9.99% p.a., all payable monthly. The deemed date of allotment is October 16, 2025.

The debentures are secured by a first ranking, exclusive, and continuing charge by way of hypothecation over all loan receivables, present and future. UGRO Capital is required to maintain a security cover of at least 1.10 times (110%) of the aggregate outstanding NCDs, covering both principal and accrued interest.