MSME-focused lender Ugro Capital to raise Rs.240-Cr from Denmark's IFU

Publicly listed, Mumbai-headquartered small businesses-focused lender Ugro Capital will raise INR 240 crore in equity through a preferential allotment to IFU, a Danish sustainable development goals investment fund. The company plans to raise another INR 101 crore through a qualified institutional placement (QIP). Led by Shachindra Nath, Ugro began operations in 2018 through a reverse merger with Chokhani Securities and raised equity capital from TPG, NewQuest, PAG, ADV Capital, Sameena Capital, and some family offices. As of March, its loan book stood at over INR 6,000 crore with a monthly disbursement run-rate of INR 500 crore.