Ugro Capital Limited has informed the Exchange regarding Outcome of Board meeting held on June 20 2025
UGROCAP · price
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On the reaction day the stock moved 0.1 pts more than Nifty Microcap 250 and 0.2 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ugro Capital's board has approved raising up to INR 911.40 Crores through a preferential allotment of 49,264,715 unsecured Compulsorily Convertible Debentures (CCDs) to non-promoter allottees. Each CCD has a face value of INR 10 and is issued at INR 185, which converts into one equity share at INR 185 (carrying a premium of INR 175 over face value) within 18 months of allotment. Around 100 investors are participating, with the largest being Samena Green Ltd (about 27 million CCDs), ACM Global Fund VCC (about 9 million CCDs), and Chartered Finance and Leasing Ltd (about 3.6 million CCDs). The board also cleared a postal ballot notice seeking shareholder approval for the acquisition of Profectus Capital Private Limited, the CCD issuance, and an increase in authorised share capital. Postal ballot voting will run from June 21 to July 20, 2025.
The CCD conversion will add roughly 4.93 crore new equity shares, leading to dilution of existing shareholders once converted. However, the INR 911 Crore capital raise strengthens the balance sheet to fund the Profectus Capital acquisition and growth, which could be positive for long-term business expansion if execution is successful.