Intimation of allotment of Non- Convertible Debenture
UGROCAP · price
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Ugro Capital Limited's Investment and Borrowing Committee has approved allotment of 2,00,000 Non-Convertible Debentures (NCDs) through private placement. Each NCD has a face value of INR 10,000, totalling INR 200 Crores. The debentures carry a coupon rate of 9.75% per annum payable monthly, with a tenure of 18 months maturing on 26th November 2027. The NCDs are listed on BSE and secured by first-ranking pari-passu floating charge on receivables, cash, investments, and unencumbered loan receivables. Redemption will be at par on maturity.
The company has raised INR 200 crore through debt placement to support its borrowing requirements. At 9.75%, the cost of funds is reasonable for a secured NBFC issuance, suggesting investor confidence in the company's credit profile. This issuance adds to the company's liability side without diluting equity.