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IPO

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Opening Date

5 Sept 2022

Closing Date

22 Sept 2022

Yield

Upto 11.01%

Tenure

Upto 36 Months

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Home   /   IPO   /   Ugro Capital Limited

IPO

Ugro Capital Limited

Ongoing IPO

Ugro Capital Limited

Opening Date
05 Sept 2022

BondsIndia

A+

Opening Date
22 Sept 2022

bondsindia

Time to close

Yield
Upto 11.01%

Tenure
Upto 36 Months

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IPO Details

IPO Details

Issue Size (Including Green Shoe Option) 100.00 crores
Face Value ₹1000
Coupon Upto 10.50%
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 28 Sept 2022
Listing Date (Tentative) 29 Sept 2022
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III
Frequency of Interest payment
Quarterly
Quarterly
Monthly
Minimum Application
10000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD)
1000
In multiples of thereafter ()
10000 (1 NCD)
Tenure
18 Months
27 Months
36 Months
Coupon (% per annum) for NCD Holders in Category I, II, III
10.15%
10.35%
10.50%
Effective Yield (per annum) for NCD Holders in Category I, II, III and IV Investors
10.53%
10.74%
11.01%
Mode of Interest Payment
Through various modes available

How to invest in the UGRO Capital Limited IPO?

Application process on BondsIndia 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 payment method.

•That’s all folks , bidding complete!

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

Why choose BondsIndia?

BondsIndia 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. BondsIndia 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 Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Ugro Capital Limited 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
UGRO CAPITAL LIMITED IPO?

Application process on BondsIndia 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 BondsIndia.

AUM

Rs. 2,969 Crs

GNPA

2.28%

NPA

1.70%

  • UGRO Capital Limited
    UGRO was originally incorporated on February 10, 1993 under the provisions of the Companies Act, 1956 by the name ‘Chokhani Securities Private Limited’. The company was further changed to UGRO Capital Limited and a fresh certificate of incorporation dated September 26, 2018 was issued by Registrar of Companies at Mumbai.

    UGRO strives to build a strong SME financing platform based on sectoral understanding supplemented by a fully integrated technology and analytics platform.

    The Company has raised ~INR 950 crore of capital from a diversified set of private equity funds, institutional investors and well-known family offices.

    UGRO capital has shortlisted the 8 sectors on the basis of an 18-month process involving extensive study of macro and micro economic parameters carried out in conjunction with market experts like CRISIL. The eight sectors shortlisted are Healthcare, Education, Chemicals, Food Processing / FMCG, Hospitality, Electrical Equipment and Components, Auto Components, Light Engineering.
  • Products
    UGRO 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. Micro Loans.
  • Differentiated Credit Approach UGRO adopted a sectoral lending approach to identify homogeneity among the heterogeneous MSME segment. It juxtaposed Cash flow-based banking analysis and repayment behavior of MSMEs to the sector in which they operate to develop their proprietary AI / ML based scoring Model GRO Score. GRO score is built on the tripod of data i.e., Banking, Bureau and GST to analyze 20,000+ data points and deliver < 60 mins credit decisioning.
  • Robust Technology Framework UGRO has developed proprietary technology sourcing platforms which are customized for each distribution channel at the heart of which lies its Business Rule Engine (BRE) which is product agnostic and distribution channel agnostic and is purely based on behavior of end customers. All customer data is stored in a data lake which can be used for any kind of machine learning model.
  • Data Fist Approach UGRO has imbibed data backed approach not only in our underwriting but across all facets of our business. UGRO identified various others business aspects where data analytics could be leveraged to build efficiency and today it is widely used across organizations.

    UGRO has developed analytics-led, early warning systems by capitalizing data across macro (industry level consumption, regulatory/policy changes, social/demographic changes) and micro/customer indicators (Credit score movement, defaults in loans with other lenders, customer enquiries/new loans taken) to drive collection efforts.
  • Large Institutional Capital UGRO has specifically decided to raise a huge institutional equity capital right from the start. With this thought process, UGRO Capital closed one of the largest fund-raises for a start-up in India, raising around ₹ 920 Crores from a diverse group of investors as it embarked on the stated mission of UGRO. Raising this capital helped our 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.
  • Modest earnings on account of high operating expenses On account of the company still being in a build-out stage, its operating expenses have remained high due to large investments in setting up branch network, technology infrastructure, and hiring employees at senior management level. Consequently, operating expenses as a percentage of average managed assets remained high. However, with the scale-up of operations, the operating efficiencies are expected to kick in and improve the pre-provisioning operating profits.
  • Limited track-record of operations the rapid scale-up in loan book in recent years, portfolio seasoning remains limited. Given the challenging macro environment, UGRO witnessed an increase in the 90+ dpd to Rs ~42 crore (1.7% of loans) as on March 31, 2022 from ~Rs 29 crore (2.3%) as on March 31, 2021 (and Rs 8 crore (0.9%) as on March 31, 2020). Further, the company has also sold to ARCs loans worth ~Rs 44 crore during fiscal 2022. The company has made significant investments in systems and processes for underwriting and risk management practices with a strong focus on technology-enabled solutions. Additionally, the company has a well-diversified portfolio across the states (with no state contributing more than 18% of the portfolio) and presence across the MSME segments with ticket sizes ranging from Rs 3 lakh to Rs 1.5 crore.
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