Intimation of allotment of Non- Convertible Debentures
UGROCAP · price
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Ugro Capital Ltd has allotted 2,00,000 Non-Convertible Debentures through private placement, raising INR 200 crores. Each debenture has a face value of INR 10,000 with a tenure of 18 months maturing on 26th November 2027. The NCDs carry a coupon rate of 9.75% per annum, payable monthly, and will be listed on BSE. The debentures are secured by a first ranking pari-passu floating charge on the company's receivables, cash equivalents, investments, and identified loan receivables.
This NCD issuance provides debt funding for the company's lending operations. The 9.75% coupon rate is a reasonable borrowing cost for an NBFC and does not signal any financial distress, as it is below the 12% threshold that would indicate higher risk.