This has reference to our earlier intimation dated 21st May 2025, regarding meeting of Securities Allotment and Transfer Committee ( SATC ) of the Board of UGRO Capital Limited scheduled to be held on Saturday, 24th May, 2025 to seek its approval to fix record date, price, entitlement ratio etc., in relation to the Rights Issue as approved by the Board of the Company on 20th May 2025.Our proposed capital raise, as intimated vide our letter dated 20th May 2025, requires in-principle approval from the stock exchanges and other approvals including Reserve Bank of India. Accordingly, we hereby inform you that the Company is in the process of seeking such approvals for the proposed capital raise including Rights Issue. In view of the same, the revised date for meeting of the SATC shall be communicated upon receipt of the requisite approvals. Kindly take the aforementioned submissions on your records.
UGROCAP · price
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Ugro Capital has postponed its Securities Allotment and Transfer Committee (SATC) meeting originally scheduled for 24th May 2025. The meeting was meant to finalise the record date, issue price, and entitlement ratio for the Rights Issue approved by the Board on 20th May 2025. The postponement is because the company is still awaiting in-principle approval from the stock exchanges and other regulatory clearances, including from the Reserve Bank of India, for its proposed capital raise. The revised meeting date will be announced once these approvals are received.
Shareholders waiting for details on the Rights Issue (record date, price, ratio) will have to wait a bit longer until regulatory approvals come through. This is a procedural delay and not a cancellation, so the Rights Issue remains on track, but it introduces near-term uncertainty on the timeline.