UGRO Capital raises Rs 250 crore from Asian Development Bank

UGRO CAPITAL

UGRO Capital has raised Rs 250 crore from the Asian Development Bank through non-convertible debentures (NCD), the non-banking finance company (NBFC) said.

This second such funding for the company in as many days.  In December, it raised an equal amount through Non-Convertible Debentures from FMO, a Dutch entrepreneurial development bank.

UGRO Capital manages asset worth Rs 8,363.8 crore as of December 2023. Over the last 5 years, the company has raised total of Rs 9,137.80 crore Equity and Debt from diverse institutional sources.

Over the past five years, UGRO Capital has provided credit to approximately 90,000 small businesses, the company said in release.

Corporates and banks have raised Rs 60,875.75 crore through bonds this month, data compiled by Moneycontrol from BSE and NSE shows.

Corporates and banks raised Rs 32,560.00 crore on NSE-EBP and Rs 28,315.75 crore on BSE-EBP.

The borrowing cost on the corporate bond in the domestic market fell in January by 5-7 basis points (bps), tracking easing bond yields.
One basis point is one hundredth of percentage point.

Yield on corporate bonds maturing in three years fell three-four bps in the secondary market, five-year bond fell two- three bps and 10-year fell by six-seven bps.