Submission of Statutory Advertisement w.r.t proposed public issue of NCDs
UGROCAP · price
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UGRO Capital Limited, an RBI-registered NBFC (Middle Layer), has published statutory advertisements on April 2, 2025 in Financial Express, Jansatta, and Navshakti for its proposed public issue of secured, rated, listed, redeemable Non-Convertible Debentures. The issue size is up to ₹20,000 lakh (₹2,000 crore), comprising a base issue of ₹10,000 lakh plus a green shoe option of an additional ₹10,000 lakh, with each NCD having a face value of ₹1,000 (up to 20 lakh NCDs). The NCDs are rated IND A+/Stable by India Ratings & Research, and the issue opens on April 3, 2025 and closes on April 21, 2025. Investors can choose from five series with tenors ranging from 18 months to 42 months, offering coupons between 10.00% and 10.50% per annum and effective yields up to 11.01%. Tipsons Consultancy Services is the lead manager, MUFG Intime is the registrar, and MITCON Credentia is the debenture trustee.
This is a pure debt-raising exercise with no equity dilution, as NCDs are non-convertible instruments. The ₹2,000 crore fundraise will bolster UGRO Capital's lending capital but will add to its interest obligations; the A+ rating reflects adequate credit safety for retail investors subscribing to the NCDs.