UGRO Capital expands capital base with new equity shares from debenture conversion

UGRO Capital Limited has approved the allotment of 2,251,325 equity shares, each with a face value of INR 10, to holders of Compulsorily Convertible Debentures (CCDs) who exercised their conversion rights. This action, approved on November 28, 2025, follows previous disclosures on June 20, 2025, and October 09, 2025, regarding a capital raise initiated in October 2025 through CCD issuance totaling INR 534.64 crores. Each CCD was convertible into one equity share at a conversion price of INR 185, comprising a face value of INR 10 and a premium of INR 175.

As a result of this allotment, the company's issued, subscribed, and paid-up equity share capital has increased. The total number of equity shares now stands at 14,52,40,763 (each of INR 10 face value), amounting to INR 1,45,24,07,630. This marks an increase from the previous 14,29,89,438 equity shares, which amounted to INR 1,42,98,94,380. The newly allotted shares will rank pari-passu with existing equity shares.

UGRO Capital confirms this disclosure is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular no. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.