Ugro Capital Limited has informed the Exchange about Credit Rating
UGROCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India Ratings and CRISIL have placed their ratings on Ugro Capital's debt instruments on Rating Watch following the company's announcement to acquire 100% stake in Profectus Capital for Rs 1,398.6 crores. India Ratings placed NCDs (Rs 18,450 million), Bank Loans (Rs 41,000 million), and Subordinated Debt (Rs 2,500 million) on 'Rating Watch with Positive Implications,' while affirming Commercial Paper at IND A1+. CRISIL placed Bank Loans (Rs 700 crore), NCDs (Rs 99.28 crore), and Market Linked Debentures (Rs 25 crore) on 'Rating Watch with Developing Implications,' and withdrew its rating on Rs 800 crore of proposed bank loan facilities. The acquisition will be funded through CCDs of Rs 911 crore and a rights issue of Rs 381 crore. Post-acquisition, UGRO's consolidated AUM is expected to cross Rs 15,000 crore and net worth to rise to around Rs 34 billion.
The watch status signals that rating agencies are awaiting clarity on the acquisition's impact — India Ratings views it positively while CRISIL remains neutral pending outcomes. Shareholders can expect the ratings to be reaffirmed or potentially upgraded once the Profectus deal closes and regulatory approvals (including RBI) are received, with synergy realization being a key monitorable over the next 12-18 months.