Ugro Capital Limited — Updates, 13-02-2025: Press Release

UGRO Capital has successfully raised approximately INR 2,600 million through Non-Convertible Debentures (NCDs) in a renewed partnership with FMO, the Dutch entrepreneurial development bank. This collaboration reinforces their commitment to impact initiatives focused on women empowerment, youth development, and reducing regional disparities within India’s MSME sector. The new issuance follows a previous NCD issuance of USD 30 million aimed at supporting green financing.

This strategic move diversifies UGRO Capital’s borrowing profile, reducing dependence on traditional Indian banking institutions while enhancing its ability to expand socio-economic contributions. With over 100,000 small businesses served, UGRO Capital aims to boost business turnover and employment. The company has raised approximately INR 1.5 billion from various Development Financial Institutions and Impact Funds globally, further strengthening its balance sheet.

The ongoing partnership with FMO underscores UGRO Capital's innovative approach to MSME financing, aiming to catalyze growth and sustainable development in underserved communities across India. Investors should monitor this positive momentum and potential growth avenues arising from these impactful initiatives.