Ugro Capital raises in equity capital Rs 340 cr

The company said its board approved Rs 240 crore worth of shares to IFU (Investeringsfonden for Udviklingslande), a Danish sustainable development goals investment fund, on a preferential allotment basis.

DT NEXT Bureau

Updated:12th Apr, 2023 at 3:20 AM

NEW DELHI: Small businesses focused fintech Ugro Capital on Tuesday said it will raise Rs 340 crore in equity capital through a preferential allotment and qualified institutional placement. The company said its board approved Rs 240 crore worth of shares to IFU (Investeringsfonden for Udviklingslande), a Danish sustainable development goals investment fund, on a preferential allotment basis.

Another Rs 101 crore will be raised from long-term shareholders like insurance companies, AIFs, and other financial institutions through a qualified institutional placement. It did not say when the money will be raised.

The company has already entered into a definitive investment agreement with IFU, a Denmark government-owned fund offering risk capital to companies in developing countries and emerging markets.

Ugro Capital raises in equity capital Rs 340 cr

The company said its board approved Rs 240 crore worth of shares to IFU (Investeringsfonden for Udviklingslande), a Danish sustainable development goals investment fund, on a preferential allotment basis.

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