NewsUGRO Capital Allots Non-Convertible Debentures Worth ₹181.10 Crores Through Private PlacementUGRO Capital Allots Non-Convertible Debentures Worth ₹181.10 Crores Through Private Placement
UGRO Capital Limited completed the allotment of NCDs worth ₹181.10 crores through private placement on March 27, 2026, comprising Series I (₹46.10 crores at 13.25% interest) and Series II (₹135 crores at 9.50% interest). The debentures feature different tenure structures and security arrangements, with both series proposed for BSE listing.
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UGRO Capital Limited has successfully allotted Non-Convertible Debentures (NCDs) worth ₹181.10 crores through private placement, as approved by the Investment and Borrowing Committee of the Board of Directors on March 27, 2026. The allotment was conducted under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Debenture Series Overview
The allotment comprises two distinct series of NCDs with varying characteristics and investment profiles:
| Series | Number of NCDs | Face Value per Debenture | Total Issue Size | Type |
|---|---|---|---|---|
| Series I | 4,610 | ₹1,00,000 | ₹46.10 crores | Subordinated, Unsecured |
| Series II | 135,000 | ₹10,000 | ₹135 crores | Senior, Secured |
Interest Rates and Tenure Structure
The two series offer different risk-return profiles to cater to diverse investor preferences:
| Parameter | Series I | Series II |
|---|---|---|
| Interest Rate | 13.25% per annum (fixed) | 9.50% per annum |
| Payment Frequency | Semi-annually | Monthly |
| Tenure | 72 months and 9 days | 12 months and 22 days |
| Maturity Date | April 5, 2032 | April 18, 2027 |
Security and Redemption Features
Series I debentures are subordinated and unsecured, reflecting their higher interest rate of 13.25% per annum. The redemption schedule is structured with 50% redemption at par at the end of 66 months and the remaining 50% at the end of 72 months and 9 days.
Series II debentures are senior and secured instruments with a lower interest rate of 9.50% per annum. UGRO Capital will create security in favor of the Debenture Trustee through a first ranking, exclusive and continuing pledge over equity shares. These debentures will be redeemed at par upon maturity.
Listing and Compliance
Both series of debentures are proposed to be listed on BSE Limited, providing liquidity options for investors. The company has ensured full compliance with SEBI regulations and has made the relevant information available on its website at www.ugrocapital.com .
Default Provisions
In case of payment delays exceeding three months from the due date, both series carry a penalty interest rate of coupon rate plus 2.0% per annum on the outstanding principal amount until the default is cured. The company has confirmed no current issues regarding payment or any other matters concerning the securities.
Historical Stock Returns for UGRO Capital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.56% | -3.40% | -19.54% | -51.21% | -46.22% | -20.37% |
How will UGRO Capital utilize the ₹181.10 crores raised through these NCDs to expand its lending portfolio and market presence?
What impact might the significant interest rate differential between Series I (13.25%) and Series II (9.50%) have on UGRO's overall cost of capital and profitability?
Will UGRO Capital consider issuing additional NCD series in the coming quarters to meet its funding requirements for business expansion?
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