UGRO Capital receives investment advice from SNG & Partners on a ₹1,315 crore Rights and Preferential Share Offer
In a significant development for the Indian financial sector, UGRO Capital Limited, a DataTech Non-Banking Financial Company (NBFC) specialising in MSME lending, has successfully raised ₹1,315 crore through a rights issue and a preferential allotment. This strategic move is part of UGRO's broader capital augmentation plan, aimed at strengthening its balance sheet, enhancing liquidity, and supporting future growth in secured lending segments.
The legal and regulatory aspects of this fundraise were expertly managed by SNG & Partners, a leading law firm. The firm's role included drafting and finalising the Letter of Offer, assisting with shareholder and board approval processes, handling SEBI (Securities and Exchange Board of India) and stock exchange compliances, and providing inputs on transaction structuring and procedural matters.
The leadership team at SNG & Partners, under the guidance of Amit Aggarwal, Managing Partner – Corporate & Non-Contentious Practice, ensured that the legal execution of the transaction was strategic and seamless. Key contributors to this effort included Aditya Vikram Dua, Partner and Head of Financial Services, Devyani Dhawan, Counsel, Chandra Shekhar Mishra, Associate Partner, and others.
The fundraise is not only intended to meet regulatory capital adequacy requirements but also to diversify UGRO's investor base. Furthermore, SNG & Partners is also involved in the legal aspects of UGRO's planned acquisition of Profectus Capital for ₹1,400 crore.
This successful fundraising round underscores UGRO's commitment to growth and its strategic approach to navigating the complexities of the financial market. The support provided by SNG & Partners was critical in ensuring regulatory compliance and a smooth execution of the capital raise.
[1] Amit Aggarwal, Managing Partner – Corporate & Non-Contentious Practice, SNG & Partners [2] Aditya Vikram Dua, Partner and Head of Financial Services, SNG & Partners [3] Devyani Dhawan, Counsel, SNG & Partners [4] Chandra Shekhar Mishra, Associate Partner, SNG & Partners
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- The success of UGRO Capital Limited's fundraise, amounting to ₹1,315 crore, was significantly bolstered by the legal expertise of SNG & Partners, with Amit Aggarwal, Aditya Vikram Dua, Devyani Dhawan, Chandra Shekhar Mishra, and their team playing crucial roles.
- Apart from facilitating UGRO's fundraise, SNG & Partners is also providing legal assistance for UGRO's planned acquisition of Profectus Capital, highlighting their extensive involvement in UGRO's financial market strategies.
