UGRO Capital to raise INR 200 crore via debenture issuance

UGRO Capital Limited announced approval to issue up to 5,000 unsecured, rated, subordinated, listed, taxable, redeemable Non-Convertible Debentures (NCDs) through a private placement. Each debenture will have a face value of INR 100,000, aiming to raise a base issue of INR 50 crore with an option to retain oversubscription of up to INR 150 crore, totaling INR 200 crore.

The NCDs will have a tenure of 66 months, with a tentative allotment date of October 31, 2025, and maturity on April 30, 2031. The offered coupon/interest rate is 11.65% p.a. p.m. (indicative), payable monthly. These debentures will be listed on BSE Limited.

The primary objective is to raise subordinated debt as Tier II capital, augmenting the company's capital adequacy in line with the Reserve Bank of India's (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023. The Investment and Borrowing Committee meeting approved the issuance on October 23, 2025.