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UGRO Capital

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UGRO Capital Limited
Company typePublic
BSE: 511742
NSE: UGROCAP
ISININE583D07455
IndustryFinancial services
Founded2018
FounderShachindra Nath
HeadquartersMumbai, Maharashtra, India
Key people
Shachindra Nath (Vice chairman and managing director)
Anuj Pandey (CEO)[1]
Websitewww.ugrocapital.com

UGRO Capital Limited is an Indian non‐banking financial company (NBFC) that provides loans to small businesses and micro, small, and medium enterprises (MSMEs). It is classified as NBFC‐ND‐SI, and is listed on the National Stock Exchange of India and the Bombay Stock Exchange.[2]

History

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UGRO Capital was founded in 2018 by Shachindra Nath[3] with an initial focus on lending to micro, small, and medium enterprises (MSMEs).[4][2][5] That year, Nath, through Poshika Advisory, acquired control of the publicly listed non-banking financial company Chokhani Securities Limited,[6] which was later restructured and renamed UGRO Capital Limited.[7][8] In November 2021, it entered a co-lending agreement with the State Bank of India to finance MSMEs under RBI guidelines.[9] In the following years, UGRO Capital raised additional capital, including ₹340.5 crore during the 2022–2023 period.[10] In 2024, it issued equity shares to institutional investors through a preferential allotment, which included investment from the Danish SDG Investment Fund.[11]

In May 2024, the company acquired the fintech platform MyShubhLife through a cash-and-equity transaction valued at ₹45 crore.[12] The following year, in June 2025, it announced an all-cash agreement to acquire Profectus Capital for ₹1,400 crore.[13][14] The acquisition received approval from the Reserve Bank of India in September 2025.[15]

The company works with banks and other NBFCs via co-lending arrangements to expand reach to small businesses.[16]

Funding

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In 2018, following its shift into MSME lending, UGRO Capital raised approximately ₹950 crore from a consortium of investors that included TPG NewQuest, PAG, ADV Capital, and Samena Capital.[17]

In 2022, the company undertook an equity issue amounting to ₹340.5 crore.[18] During 2022–2023, it also secured funding of ₹240 crore from the Danish SDG Investment Fund.

In the fourth quarter of FY2024, UGRO Capital raised about ₹1,332 crore through a combination of compulsorily convertible debentures (CCDs) and warrants.[19][20]

See also

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References

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  1. ^ Basu, Sreeradha (2025-06-24). "UGRO Capital elevates Anuj Pandey to CEO". The Economic Times. ISSN 0013-0389. Retrieved 2025-10-29.
  2. ^ a b "Vardhman Textiles Q2 Results: Profit dips 14% YoY to ₹189 crore; revenue down 2% | Stock Market News". mint. 2025-10-23. Retrieved 2025-10-28.
  3. ^ Jha, Raj (June 24, 2023). "Management Meet Note Ugro Capital - Nuvama" (PDF). Nuvama.
  4. ^ Kumar, Ankit (2023-04-11). "UGro Capital Fund Raise News: यू ग्रो कैपिटल ने 340 करोड़ रुपये की पूंजी जुटाने का किया ऐलान, जानिए डिटेल". The Economic Times Hindi (in Hindi). Retrieved 2025-10-28.
  5. ^ Singh, Avinash; Rungta, Kishan; Shah, Mahek (January 28, 2025). "UGRO Capital - Reports | Emkay Research" (PDF). Emkay Global.
  6. ^ "U GRO Capital's founder & MD Shachindra Nath joins FIDC Board". The Financial Express. 2023-11-24. Retrieved 2025-10-28.
  7. ^ "Shachindra Nath, Founder & Managing Director of U GRO Capital joins FIDC Board". Elets BFSI. 2023-11-23. Retrieved 2025-10-28.
  8. ^ Galaiya, Karan (29 August 2025). "Ugro Capital Limited | Quarterly Update - Keynote Capitals Ltd" (PDF). Keynote Capitals Ltd.
  9. ^ "SBI, U Gro Capital join hands under co-lending scheme | Company Business News". Mint. 2021-11-17. Retrieved 2025-10-28.
  10. ^ "UGRO Capital Secures USD 40 Mn Loan from DFC to Empower MSMEs". Entrepreneur India. October 17, 2024.
  11. ^ Soni, Sandeep (2023-06-21). "U GRO Capital raises Rs 240 crore from Danish govt's fund IFU for green finance to MSMEs". The Financial Express. Retrieved 2025-10-28.
  12. ^ Rag, Ajay (2024-05-02). "Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore". The Economic Times. ISSN 0013-0389. Retrieved 2025-10-28.
  13. ^ Narayanan, KS Badri (2025-06-20). "Broker's call: Ugro Capital (Buy)". BusinessLine. Retrieved 2025-10-28.
  14. ^ "UGRO Capital to Acquire Profectus Capital for INR 1,400 Cr in Strategic All-Cash Deal". Entrepreneur India. June 18, 2025.
  15. ^ "UGRO Capital secures RBI approval to acquire Profectus Capital - ET Edge Insights". 2025-09-19. Retrieved 2025-10-28.
  16. ^ Gupta, Paromita (2024-06-19). "UGRO Capital Raised INR 1,265 Cr Through Allotment of CCDs and Warrants". Entrepreneur. Retrieved 2025-10-23.
  17. ^ Kaur, Jaspreet (2023-04-11). "Fintech Startup U GRO Secures $41.3 Mn To Offer Credit To MSMEs". Inc42 Media. Retrieved 2025-10-28.
  18. ^ Jose, Teena (2023-04-11). "UGRO Capital Limited Announces Equity Capital Raise Of INR 340 Crore". Entrepreneur. Retrieved 2025-10-28.
  19. ^ Rag, Ajay (2024-05-02). "Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore". The Economic Times. ISSN 0013-0389. Retrieved 2025-10-28.
  20. ^ "UGRO Capital To Raise INR 1,332 Cr Via CCDs & Warrants". Inc42 Media. 2024-05-03. Retrieved 2025-10-28.
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