UGRO Capital
Indian non-banking financial company
From Wikipedia, the free encyclopedia
UGRO Capital Limited is an Indian non‐banking financial company (NBFC). Established in 2018, the company operates as a systemically important non-deposit-taking NBFC (NBFC-ND-SI) and is headquartered in Mumbai, Maharashtra. It is listed on the National Stock Exchange of India and the Bombay Stock Exchange.[2]
| Company type | Public |
|---|---|
| BSE: 511742 NSE: UGROCAP | |
| ISIN | INE583D07455 |
| Industry | Financial services |
| Founded | 2018 |
| Founder | Shachindra Nath |
| Headquarters | Mumbai, Maharashtra, India |
Key people | Shachindra Nath (Vice chairman and managing director) Anuj Pandey (CEO)[1] |
| Revenue | ₹1,441.85 crore (FY2025) |
| Website | www |
History
UGRO Capital was formed in 2018 following the acquisition and restructuring of the publicly listed non-banking financial company Chokhani Securities Limited by Shachindra Nath through Poshika Advisory.[3][4][5] After the change in control,[6] the company was rebranded as UGRO Capital and shifted its business focus toward financing micro, small, and medium enterprise (MSMEs).[7][8]
Between 2022 and 2024, UGRO Capital expanded its operations through a combination of additional capital-raising and acquisitions.[9] In November 2021, the company entered a co-lending agreement with the State Bank of India to finance MSMEs under Reserve Bank of India guidelines.[10] During the 2022–2023 period, UGRO Capital raised additional capital, including ₹340.5 crore, and secured funding of ₹240 crore from the Danish SDG Investment Fund.[11] In 2024, the company acquired the fintech platform MyShubhLife, which became a wholly owned subsidiary, marking its entry into embedded credit delivery.[12] During the same year, UGRO Capital issued equity shares to institutional investors through a preferential allotment, including investment from the Danish SDG Investment Fund.[13] The company also raised approximately ₹1,265 crore through the issuance of compulsory convertible debentures and warrants, with participation from Samena Capital and other institutional investors.[14] In May 2024, the board approved a proposal to raise additional equity capital of ₹1,332.66 crore.[15]
In 2025, UGRO Capital announced an agreement to acquire Profectus Capital, subject to regulatory approvals.[16][17] The transaction received approval from the Reserve Bank of India later that year.[18] In January 2026, the board approved a scheme to amalgamate Profectus Capital, then a wholly owned subsidiary, with UGRO Capital, subject to approval by the National Company Law Tribunal and other authorities.[19][20]