07-Feb-2024
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UGRO Limited NCD 2024 issue will open on Thursday February 8, 2024 and will close on Wednesday, February 21, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 200 crores. The base issue size is of Rs 100.00 crores and oversubscribed size is of Rs 100.00 crores. The NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD. The listing is at BSE , NSE and the tenor is of 18, 24 and 27 months. The lead manager of UGRO Capital Limited NCD is JM Financials Limited. The registrar for this NCD is Link Intime India Private Limited.
About UGRO Capital Limited Profile
UGRO Capital Limited is a NBFC firm incorporated in 1993 and registered with RBI. UGRO is engaged in the lending business and focusing on the MSME sector to provide loans. Company’s main business is to provide loans to SME and MSME businesses that are in the field of healthcare, chemicals, education, FMCG, Food processing, hospitality and home appliances and components, automotive accessories and light engineering segments and micro enterprises segments. The services list includes Prime secured loans, prime unsecured loans, Micro enterprises loans, Machinery loans, Supply chain finance, Partnership and Alliances. UGRO capital has divided its customers into two branches: The prime branch and micro branch. The prime branch is based in Tier-1 and Tier-2 cities and a customer turnover of Rs 1 crore to Rs 15 crore. However, the micro branch is based in Tier-3 cities with a customer turnover of less than Rs 1 crore. As of December 2023, company’s assets under management Rs 8,36,376.40 lacs.
Objectives of the NCD Issue
The amount raised from the NCD issue will be utilized for business operations through lending and finances of business. Moreover, the net proceeds will also be used for the repayment of the debts of the company. Other than this, general corporate purposes will also be fulfilled.
Financial Performance of UGRO Capital Limited (In Rs Crore)
For the financial year concluding on March 31, 2023, UGRO Capital Limited witnessed significant growth in its financial metrics. Company’s revenue increased by 118.16% and profit after tax increased by 173.37% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,330.69 | 4,305.59 | 2,854.23 | 1,750.89 |
| Revenue | 471.98 | 683.76 | 313.42 | 153.34 |
| Profit After Tax | 54.13 | 39.78 | 14.55 | 28.73 |
| Net Worth | 1,404.92 | 984.04 | 966.56 | 952.44 |
| Total Borrowing | 3,148.93 | 1,801.84 | 765.69 | |
| Amt in Rs. Crore |
Important Details of UGRO Capital Limited NCD 2024
| Issue Open | February 8, 2024 – February 21, 2024 |
| Security Name | UGRO Capital Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 100.00 Crores |
| Overall Issue Size | Rs 200.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE, NSE |
| Credit Rating | IND A/Stable by India Ratings & Research Private Limited |
| Tenor | 18, 24 and 27 months |
| Series | Series I to V |
| Payment Frequency | Monthly, Quarterly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
NCD Allocation Ratio
| Category | NCDs Allocated |
| Institutional | 10% |
| Non-Institutional | 10% |
| HNI | 40% |
| Retail | 40% |
Coupon Rates of UGRO Capital Limited NCD 2024
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | |
| Frequency of Interest Payment | Monthly | Annual | Quarterly | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured |
| Tenor | 18 Months | 18 Months | 24 Months | 27 Months | 27 Months |
| Coupon (% per Annum) | 10.25% | 10.75% | 10.35% | 10.50% | 11.00% |
| Effective Yield (% per Annum) | 10.72% | 10.82% | 10.74% | 11.01% | 11.03% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 |
NCD Rating
The NCDs proposed to be issued under the Issue have been rated “IND A/Stable” for an amount of Rs 20,000 lakh by India Ratings & Research Private Limited.
Lead Manager of UGRO Capital Limited NCD 2024
The lead manager for the UGRO Capital Limited NCD 2024 is JM Financials Limited.
How to Apply for UGRO Capital Limited NCD 2024
Wait for the NCD to open for subscription, then click on this link to apply for the UGRO Capital Limited NCD 2024 with Bigul: https://ncd.bonanzaonline.com/.
How to Check the Allotment Status of UGRO Capital Limited NCD 2024
The UGRO Capital Limited NCD 2024 registrar is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
- When will the UGRO Capital Limited NCD 2024 be open for subscription?
The subscription for the NCD opens on February 8, 2024, and is scheduled to close on February 21, 2024. However, the issue may close earlier in the case of early oversubscription.
- What is the issue size and price of the NCD?
The base issue size is Rs 100 crore with an option to retain oversubscription up to Rs 100 crore, totalling Rs 200 crore. The issue price is Rs 1,000 per NCD.
- What are the main objectives of the UGRO Capital Limited NCD 2024?
The amount raised from the NCD issue will be utilized for business operations through lending and finances of business. Moreover, the net proceeds will also be used for the repayment of the debts of the company. Other than this, general corporate purposes will also be fulfilled.
- How has UGRO Capital Limited performed financially?
For the financial year concluding on March 31, 2023, UGRO Capital Limited witnessed significant growth in its financial metrics. Company’s revenue increased by 118.16% and profit after tax increased by 173.37% between the financial year ending with March 31, 2023 and March 31, 2022.
- What types of loans does UGRO Capital Limited offer?
UGRO Capital offers loans to the SMEs and MSMEs those who are involved in healthcare, chemicals, education, FMCG, Food processing, hospitality and home appliances and components, automotive accessories and light engineering segments and micro enterprises segments.
- How can I apply for the UGRO Capital Limited NCD 2024?
Wait for the NCD to open for subscription, then click on this link to apply for the UGRO Capital Limited NCD 2024 with Bigul: https://ncd.bonanzaonline.com/.
- How can I check the allotment status of the NCD?
The UGRO Capital Limited NCD 2024 registrar is Link Intime India Private Ltd. To check your allotment status, please click on this link https://linkintime.co.in/Initial_Offer/public-issues.html
- What are the tenors and coupon rates for the NCD?
The NCDs offer tenors of 18, 18, 24, 27, and 27 months, with coupon rates varying from 10.25% in Series 1, 10.75% in Series 2, 10.3% in Series 3, 10.50% in Series 4, 11.00% in Series 5.
- Who is the lead manager for the UGRO Capital Limited NCD 2024?
JM Financials Limited is the lead manager for this NCD issue.