Proceedings of 32nd Annual General Meeting held on August 08, 2025
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Ugro Capital held its 32nd Annual General Meeting on August 8, 2025, via video conferencing from 11:00 AM to 11:30 AM IST. Shareholders transacted several businesses, including adopting the audited financial statements for the year ended March 31, 2025, re-appointing Mr. Chetan Kulbhushan Gupta as a director (who retires by rotation), and appointing M/s Pankaj Nigam & Associates as the new Secretarial Auditors. A key resolution approved was the raising of funds up to ₹500 Crores through a Qualified Institutions Placement (QIP). Other resolutions covered fresh authorization for borrowing money, creating charges on company assets, and issuing Non-Convertible Debentures. E-voting was conducted, and the scrutinizer's report with voting results will be shared with the stock exchanges later.
The approval to raise ₹500 Crores via QIP signals potential equity dilution for existing shareholders, while the renewed borrowing powers and NCD issuance indicate the NBFC is preparing to expand its loan book. Voting results on these resolutions are still pending and could move the stock once announced.