UGRO Capital to raise ₹300 crore via NCDs; retains ₹150 crore green shoe option

Non-bank lender UGRO Capital Ltd on Wednesday (October 8) said it has approved the issuance of up to ₹300 crore through listed, rated, senior, secured, transferable, redeemable Non-Convertible Debentures (NCDs), with an option to retain oversubscription of up to ₹150 crore, the company said following its Investment and Borrowing Committee meeting on October 8, 2025.

The issue will be made through private placement under three series—Series I, II, and III—each with a base size of ₹100 crore and a green shoe option of ₹50 crore. The NCDs, denominated in Indian rupees with a face value of ₹10,000 each, will be listed on BSE Limited.

The tentative allotment date is October 16, 2025, with maturities scheduled for January 15, 2027 (Series I), October 15, 2027 (Series II), and April 15, 2029 (Series III). The instruments will offer monthly interest payments at coupon rates of 9.50%, 9.75%, and 9.99% per annum for Series I, II, and III, respectively.

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The debentures will be secured by a first-ranking, exclusive and continuing charge by way of hypothecation over all present and future loan receivables of UGRO Capital, with a minimum security cover of 1.10 times the outstanding principal and accrued interest.

In case of delay in payment of interest or principal, a penalty rate of coupon plus 2% per annum will apply. The redemption of the NCDs will occur on their respective maturity dates. The company confirmed that there are no special rights, defaults, or comments from trustees concerning the securities.

Shares of Ugro Capital Ltd ended at ₹186.00, down by ₹1.97, or 1.05%, on the BSE.

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