UGRO Capital Limited NCD Company Profile:
UGRO Capital Limited is a non-deposit taking systemically important NBFC registered with the RBI and the equity shares of the Company are listed on NSE and BSE, UGRO Capital lends exclusively to MSMEs and caters to all the borrowing needs through its diverse range of product offerings like Secured LAP, Affordable LAP, Micro Enterprises Loans, Machinery Loans, Unsecured Business Loans and Supply Chain Financing. Additionally, it does co-lending with FinTech and smaller NBFC Partners. They have been categorized as a ‘Middle Layer’ NBFC under the scale-based regulatory framework for NBFCs introduced by the RBI, with effect from September 30, 2022 and updated vide Scale Based Regulation.
UGRO Capital Limited is coming up with a public issue by the company of secured, redeemable, non-convertible debentures of face value ₹ 1,000 each (“NCDs” or “debentures”), for an amount up to ₹100 crores (“base issue size”) with an option to retain oversubscription up to ₹100 crores, aggregating up to ₹200 crores is being offered by way of this prospectus. The issue opens for subscription on Thursday, 8th February 2024, and will close on or before Friday, 21st February 2024. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs
UGRO Capital Limited NCD Details:
| Issue opens: | Thursday, 8th February 2024 |
| Issue closes: | Friday, 21st February 2024 |
| Allotment: | First Come First Serve Basis |
| Face Value: | ₹ 1,000 per NCD |
| Nature of Instrument: | Secured Redeemable Non-Convertible Debentures |
| Minimum Application: | 10 NCDs (₹ 10, 000) & in multiple of 1NCD |
| Listing: | BSE & NSE |
| Credit Rating: | The NCDs proposed to be issued under the Issue have been rated “IND A/Stable” for an amount of ₹ 200 crores by India Ratings & Research Private Limited vide their rating letter January 29, 2024, and press release dated September 15, 2023, January 08, 2024 and rectification dated January 23, 2024 |
| Issue Size: | Public Issue by UGRO Capital Limited Company of upto 20,00,000 secured, rated, listed, redeemable, non-convertible debentures of face value of ₹ 1,000 Each (“NCDs”) for an amount up to ₹ 100 crores (“Base Issue Size”) with an option to retain oversubscription up to ₹ 100 crores (“Green Shoe Option”), for an aggregate amount of up to ₹ 200 crores (“Issue Size” or “Issue Limit”) |
| Registrar: | Link Intime India Private Limited |
UGRO Capital Limited NCD
Application form
UGRO Capital Limited NCD Specific Terms of the Prospectus:
The terms of the NCDs offered under the Issue are as follows:
| Series | I | II | III | IV* | V |
| In multiples of thereafter | ₹ 1,000 (1 NCD) | ||||
| Face Value/ Issue Price of NCDs (₹/ NCD) | ₹ 1,000 | ||||
| Tenor | 18 months | 18 months | 24 months | 27 months | 27 months |
| Coupon (% per annum) for NCD Holders in Category I, II, III & IV | 10.25% | 10.75% | 10.35% | 10.50% | 11.00% |
| Effective Yield (per annum) for NCD Holders in Category I, II, III & IV | 10.72% | 10.82% | 10.74% | 11.01% | 11.03% |
| Mode of Interest Payment | Through various modes available | ||||
| Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III & IV | ₹ 1,000 | ₹ 1,000 | Staggered Redemption in eight (8) quarterly payments of ₹ 125 each, starting from 1st quarter** until maturity | ₹ 1,000 | ₹ 1,000 |
| Maturity/Redemption Date (from the Deemed Date of Allotment) | 18 months | 18 months | 24 Months (Staggered Redemption as per “Principal Redemption Schedule and Redemption Amounts for Series III NCDs” below | 27 months | 27 months |
*- The Company shall allocate and allot Series IV NCDs (Monthly option) wherein the Applicants have not indicated the choice of the relevant NCD Series.
**- From the deemed date of allotment