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IPO

A+

Opening Date

07 Apr 2022

Closing Date

28 Apr 2022

Coupon Rate

Upto 10.40%

Tenure

Upto 36 Months

IPO Details

Issue Size (Including Green Shoe Option) ₹100.00 crores
Face Value ₹1000 per NCD
Minimum Number of Bonds 10 NCDs (Rs.10,000) & in multiple of 1NCD
Lot Size (Multiplier) 1
Allotment Date (Tentative) 12th May 2022
Listing Date (Tentative) 16th May 2022
Exchange Bid Time (24 Hours) 10:00 - 17:00

Documents attached

Information Memorandum

 

Bonds India
Product Note

 

Bonds India

*Allotment on first come first serve basis

ISSUE STRUCTURE

Series
I
II
III
Frequency of Interest payment
Quaterly
Monthly
Monthly
Minimum Application
Rs 10000 (10 NCDs) across all Series
Face Value/Issue Price
Rs 1000
In multiples of thereafter
Rs 10000 (1 NCD)
Tenure
18 Months
27 Months
36 Months
Coupon (%per annum) for NCD Holders
10.00%
10.15%
10.40%
Effective Yield (per annum) For NCD
10.37%
10.62%
10.90%
Mode of Interest Payment
Through various mode availabe
Amount (NCD)on Maturity for NCD Holders
1,000
1,000
1,000
Maturity / Redemption Date (years from the Deemed date of Allotment)
18
Months
27
Months
36
Months
Put And Call Option
NA
NA
NA

Why choose Bonds India?

Bonds India is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. Bonds India brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.

BondsIndia ditches the traditional ways of investing by offering a blockchain-based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose Bonds India for its sleek interface, fail-safe communication, and a step-by-step guide to ensure a well-placed bid. You can apply for Indiabulls Housing Finance IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
U GRO IPO?

Application process on Bonds India platform is simple and seamless.

  • Click on the details of the company on the home page
  • Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank, and Demat details
  • Then, confirm the quantity and price and select a payment method.
  • That’s all folks, bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with Bonds India.

AUM

Rs. 1,310.00 Crs

GNPA

2.72%

NPA

1.45%

  • U GRO Capital Limited
    U GRO Capital Limited is a non-deposit-taking systemically important NBFC registered with the RBI and the equity shares of the Company are listed on NSE and BSE.

    U GRO Capital lends exclusively to MSMEs and caters to all the borrowing needs through its diverse range of product offerings like Term Loan (Secured and Unsecured), Supply Chain Financing, Machinery Loan, and Short-term financing through its multiple FinTech and NBFC Partners.

    As of December 31, 2021,U GRO is operating from 14 prime branches and 68 micro branches with a total loan portfolio of Rs 2,589 crore and catering to 16,594 customers. Of the said loan portfolio, approx. 77% is in form of secured lending.
  • Products Offered
    U GRO offers tech-enabled Flexi loan products and solutions to SMEs:
    1. Secured Business Loans
    2. Unsecured Business Loans
    3. Machinery Loans
    4. Supply Chain Finance
    5. Rental Discounting
    6. Business Credit Cards
  • Strong Corporate Governance Standards
    The Company was founded with the philosophy of being institution owned, board controlled, and management run. The U GRO Capital`s 2019s Board is majorly independent and comprises financial industry luminaries with expertise from across the array of financial services viz lending, regulations, rating agency, etc. The Governance standards are further strengthened by strong policies and processes enshrined in the Articles of Association. U GRO Capital has also opted to be a listed entity from day one, which demands a higher degree of regulatory oversight and transparency.
  • Experienced Leadership Team
    The company has able senior management that works to build the systems and processes with a larger time frame in mind. To that effect, the company hired industry leaders that have a proven track record of delivering results & possess the right acumen necessary in the build-out phase of any organization. Setting the right team in place has helped the company tide through the crisis effectively.
  • Large Institutional Capital
    The company is institutionally owned and professionally governed. The Company has specifically decided to raise a huge institutional equity capital right from the start. U GRO Capital closed one of the largest fund-raises for a start-up in India, raising around Rs 920 Crores from a diverse group of investors as it embarked on the stated mission of U Gro. Raising this capital has helped the Company to have adequate capital based to grow in the first few years. Having a large institutional capital is also perceived positively by lenders & the company has been able to solidify its position in terms of the liability book. As of December 31, 2021, 89.11% of the paid-up share capital of the Company is held by institutions / private equity funds like ADV Partners, New Quest, Samena Capital, PAG, IndGrowth, PNB Metlife, Chhattisgarh Investments.
  • Technology
    The Company has built proprietary GRO Score 2.0 which combines credit bureau data & banking data and provides superior performance through use of ML Models. A holistic credit score for MSMEs built by combining repayment history and cashflow transaction data; provides improved performance by fitment on own data, extensive feature creation and use of machine learning models. It combines entity, individual and banking data into one model. It reduces dependency on any specific bureau data and provides 10-20% higher approval rates for similar or lesser risk cases.
  • Average asset quality
    The asset quality of the company has witnessed some stress over the past few quarters with gross non-performing asset (GNPA)and net non-performing asset (NNPA)increasing to 2.66 % and 1.59 % respectively, as of March 31, 2021. The said ratios deteriorated mainly on account of high slip pages in the non housing loan book and shrinkage in the asset base. However, the company has managed to restrict asset quality from further deterioration with the reduction in slippages to NPA and maintaining healthy collection efficiency levels as of Sep 30, 2021. GNPA and NNPA of the Company stood at 2.69% and 1.53%, respectively as of Sep 30, 2021. The management`s 2019s continuous focus is to scaled own its corporate loan book which is more vulnerable to the real estate sector risk, contributing 14% of the total AUM.
  • Subdued profitability levels
    The Company`s 2019s profitability levels were impacted due to falling income levels on the back of shrinkage of loan book, high provisioning due to the impact of COVID 19 pandemic and falling of NIM due to sell down of high yielding developer loan portfolio coupled with high credit costs as on Sep30,2021. The Company reported PAT of Rs.568.03 Crs (ROA & ROE of 1.25% & 7.15%, respectively) as of Sep30,2021 compared to Rs.596Crs (ROA & ROE of 1.26% & 7.09%, respectively) as of Sep30,2020. The company believes that its profitability levels are expected to remain subdued in the current financial year owing to restricted AUM growth along with the high cost of borrowings.

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