Ugro Capital Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot dated 20th June 2025
UGROCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Ugro Capital has issued a corrigendum to its postal ballot notice originally circulated on June 20, 2025, which seeks shareholder approval for a preferential issue of Compulsorily Convertible Debentures (CCDs) to around 100 investors. The first change clarifies the use of proceeds: the money will go toward the proposed acquisition of Profectus Capital Private Limited within one year, will be parked in bank deposits or debt mutual funds until used, and India Ratings and Research has been appointed as monitoring agency — replacing the earlier wording that included a 75/25 fallback split for capital and general corporate purposes. The second change corrects a calculation error in the post-issue shareholding table, which has been fully replaced with a revised Annexure B listing each investor's pre- and post-issue holdings. The third change fixes a pricing typo, confirming the issue price floor is ₹174.65 (90-day VWAP) and ₹175.63 (10-day VWAP). Shareholders who already cast their votes may revise their decision within 48 hours of this corrigendum's dispatch, and the e-voting window remains open until July 20, 2025.
Existing shareholders should review the revised shareholding table in Annexure B to see how much their stake will be diluted once the CCDs convert, and may want to reassess their vote on the preferential issue. The corrigendum does not change the core proposal or pricing in any material way, so the overall impact on the stock is likely limited, though the change removes the previous flexibility to divert 25% of proceeds to general corporate use.