UGRO Capital approves ₹1.50 bn NCD issuance

UGRO Capital Limited announced that its Investment and Borrowing Committee approved the issuance of listed, rated, senior, secured, transferable, redeemable Non-Convertible Debentures (NCDs) totaling up to ₹75,00,00,000 (base issue size). The issuance includes an option to retain oversubscription of up to an additional ₹75,00,00,000 (green shoe option), bringing the potential total to ₹150,00,00,000. Each NCD will have a face value of ₹10,000 and will be issued on a private placement basis.

The NCDs will bear a coupon interest of 9.99% per annum, payable monthly, with redemption occurring on the maturity date. The tentative date of allotment is December 10, 2025, and the tentative date of maturity is June 10, 2029, representing a tenure of 42 months. The NCDs will be listed on BSE Limited.

The debentures will be secured by a first-ranking, exclusive, and continuing charge on all loan receivables, present and future, of UGRO Capital. The company is required to maintain a security cover of at least 1.10 times or 110% of the aggregate outstanding NCDs, including principal and accrued interest, at all times. In case of delayed payment, an additional 2.0% per annum will be charged on the coupon rate.