Ugro Capital plans to raise funds up to ₹400 Crore through a rights issue of equity shares, subject to regulatory approvals. The record date will be determined and notified later.
The company will also issue 49,421,464 fully paid-up unsecured compulsorily convertible debentures (CCDs) at ₹185 each to non-promoter allottees via preferential allotment, totaling up to ₹914.30 Crore, pending shareholder approval via postal ballot commencing on 21 May 2025 and ending on 19 June 2025.
Each CCD will be convertible into one equity share at a conversion price of ₹185 per share after 18 months from the date of issue.
The authorized share capital will be increased from ₹215 Crore to ₹270 Crore, divided into 24,95,00,000 equity shares of ₹10 each and 2,05,00,000 preference shares of ₹10 each, subject to shareholder approval.
Clause V of the Memorandum of Association will be modified to reflect the increased authorized share capital.
A notice of postal ballot will be issued to seek member approval for the CCD issuance and the increase in authorized capital.
The board meeting for these approvals was held on 20 May 2025, commencing at 14:30 hrs and concluding at 18:00 hrs.