U Gro Capital raises Rs.250-Cr debt from FMO

U GRO Capital, a Mumbai-headquartered, publicly-listed non-banking financial company with a focus on lending to MSMEs, has raised INR 250 crore (about USD 30 million) via non-convertible debentures (NCDs) from FMO, the Dutch entrepreneurial development bank. U Gro Capital raised the funding via INR-denominated NCDs, which were fully subscribed by FMO. Earlier, U Gro Capital raised INR 340 crore (USD 41.3 million) from Denmark government's development financial institution and other long-term shareholders.