Ugro Capital Limited has informed the Exchange regarding a press release dated May 31, 2025, titled "UGRO CAPITAL ANNOUNCES ₹400 CRORE RIGHTS ISSUE AT ₹162 PER SHARE".
UGROCAP · price
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Ugro Capital, an MSME-focused NBFC, has finalised terms of a rights issue worth up to ₹400 crore, issuing 2.46 crore equity shares at ₹162 each (face value ₹10, premium ₹152). Existing public shareholders can subscribe at a ratio of 50 rights shares for every 189 shares held, with the record date set for June 5, 2025 and the issue window opening June 13–20, 2025. The company has already secured commitments of over ₹250 crore, including ₹150 crore from IFU (Denmark's development fund) and ₹34 crore from the promoter, promoter group and employees. This rights issue is part of a broader ₹1,315 crore capital raise plan that includes a separate ₹915 crore preferential CCD issue approved on May 20, 2025. UGRO reported FY25 AUM of ₹12,003 crore (up 33% YoY) and PBT of ₹203 crore (more than doubled), with the fresh capital aimed at funding further growth rather than repaying debt.
Existing shareholders can subscribe to maintain their stake and avoid dilution, though book value per share will dip from ~₹219.6 to ~₹190 post-issue. The pricing is in line with the concurrent CCD preferential issue, treating public and institutional investors fairly. The strong AUM growth and pre-committed institutional support signal management confidence, but shareholders who don't exercise rights will see their stake diluted by about 26%.