Ugro Capital is considering raising of funds through various options of borrowings including byway of issue of debt securities on a private placement basis. Based on the market conditions,Investment and Borrowing Committee will consider and approve such issuances of debt securitiesduring the month ending 31 March, 2021 subject to such terms and conditions including theissue price of debt securities, as the Committee may deem fit.

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Ugro Capital announced the launch of 'GRO Micro', a dedicated distribution channel to aid lending services specifically for the unorganized Micro Businesses based in non-metro markets. The Company announced that it has expanded its distribution network by adding 25 branches across 5 states - Karnataka, Tamil Nadu, Gujarat,Telangana, and Rajasthan.

With this geographical expansion under the flagship of 'GRO Micro', the Companyaims to offer small ticket loans - secured against property, as well as unsecuredloans, to micro businesses.

Based on its internal research, the Company found that there exists an opportunityto connect with over 5 million MSMEs in target markets, away from the urbancenters. These small businesses in Tier 2 and 3 regions face a lack of formal capitalinfusion due to insufficient database and unavailability of requisite documents.This sector alone presents a huge market opportunity prompting the Company tolaunch a dedicated vertical called GRO Micro to cater to these businesses.

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Net profit of Ugro Capital declined 9.00% to Rs 6.27 crore in the quarter ended December 2020 as against Rs 6.89 crore during the previous quarter ended December 2019. Sales rose 36.85% to Rs 38.77 crore in the quarter ended December 2020 as against Rs 28.33 crore during the previous quarter ended December 2019.

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Ugro Capital is considering raising of funds through various options of borrowings including by way of issue of debt securities on a private placement basis.

Based on the market conditions,Investment and Borrowing Committee will consider and approve such issuances of debt securities during the month ending 28 February 2021 subject to such terms and conditions including theissue price of debt securities, as the Committee may deem fit.

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