UGRO Capital launches Rs 400 Cr rights issue at Rs 162 per share

UGRO Capital, an MSME financing NBFC, has launched a Rs 400 crore rights issue at a price of Rs 162 per share. The rights issue aims to bolster the company's capital base to fuel its growth initiatives and expand its lending operations to underserved micro, small, and medium enterprises. The terms, approved by the Securities Allotment & Transfer Committee, ensure existing public shareholders have the opportunity to maintain their stake. This capital raise builds on UGRO Capital's strong performance, which saw assets under management grow to Rs 12,003 crore and profit before tax more than double in the previous fiscal year.