SNG & Partners assists UGRO Capital in fund raising

UGRO Capital Limited, a leading technology-enabled small business lender, has raised ₹340 crores through a private placement offering of ₹240 crores and Qualified Institutions Placement (QIP) of up to ₹101 crores from Marquee Institutional Investors.

SNG & Partners represented UGRO Capital in this transaction.

The transaction was led by Amit Aggarwal (Senior Partner) accompanied by other members of the team from the firm. For the QIP, the transaction team comprised Soumyajit Mitra (Associate Partner), Kawaljeet Kaur (Senior Associate) and Rachit Munjal (Associate).

Further, for the private placement offering of ₹240 crores to IFU, the transaction team comprised Aditya Vikram Dua (Associate Partner), Devyani Dhawan (Of Counsel), and Ayushi Parnami (Associate).

UGRO Capital intends to use the proceeds from the funds raised to primarily provide onward lending to the MSME segment and take credit to the last mile. The equity capital raise will further enhance UGRO Capital's strong capital position and strengthen its balance sheet.

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