Intimation of Newspaper Publication of Addendum to Letter of Offer regarding Rights issue of the Company
UGROCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ugro Capital has published an addendum to its June 4, 2025 Letter of Offer for a Rights Issue of up to 2.46 crore equity shares at Rs 162 per share, aggregating up to Rs 400 crore, in the ratio of 50 shares for every 189 held. The addendum follows the Board's June 17, 2025 approval to acquire 100% of Profectus Capital Private Limited for Rs 1,398.60 crore in an all-cash deal. To fund this acquisition, the Board has rescinded its earlier approval for a Rs 914.30 crore preferential issue of compulsorily convertible debentures and withdrawn the May 20, 2025 postal ballot notice. The Rights Issue opened on June 18, 2025, with the last date for on-market renunciation also being June 18, and off-market transfer closing on June 20. The advertisements were published in JanSatta, Financial Express, and Nav Shakti (Mumbai) on June 18, 2025.
The earlier proposed CCD preferential issue is now scrapped as UGRO redirects its capital raise toward the Profectus acquisition, which is expected to add Rs 150 crore in incremental profitability, Rs 115 crore in cost savings, and lift ROA by 0.6-0.7%. Existing shareholders face further dilution from both the Rights Issue and the all-cash acquisition funded largely by equity, though the combined entity should deliver meaningful scale benefits.