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 has maintained its IND A+ rating on Ugro Capital's NCDs (INR 19,950M), sub-debt (INR 5,500M), and bank loans (INR 61,000M) on 'Rating Watch with Positive Implications', and affirmed commercial paper at IND A1+. New ratings were assigned to fresh NCDs worth INR 1,500M, additional bank loans of INR 20,000M, and sub-debt of INR 3,000M. The positive watch is driven by the company's announced acquisition of 100% stake in Profectus Capital, which is awaiting RBI approval and could lift UGRO's AUM beyond INR 150 billion. To fund the deal, UGRO plans to raise about INR 13 billion via preferential CCDs (INR 9.1B) and a rights issue (INR 4B). AUM has grown to INR 120 billion in Q1FY26 from INR 13.2 billion in FY21, supported by 309 branches and 17 co-lending partnerships.
The 'positive watch' hints at a possible rating upgrade once the Profectus Capital acquisition is completed, which would lower borrowing costs and strengthen the balance sheet. For shareholders, the RBI clearance of the deal is the key catalyst to watch, while new debt facilities support growth funding but also raise leverage needs.