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Ugro Capital secured around Rs 400 Crore

Mid-sized non-banking lender U GRO Capital has now secured around INR 400 crore from the banks and through other debts instruments as it expects credit demand to gather momentum with the Covid-19 pandemic induced lockdown getting lifted in most parts.

The fundraising, at the time of course of the first quarter, comes even as it sits on liquidity of around INR 300 crore, the company said in a statement.

“We have cumulatively raised Rs 397 crore from public and private sector banks in term loans and through the government’s partial credit guarantee scheme and the targeted long-term repo operations announced by the central bank,” Shachindra Nath, Chairman and Managing Director of U GRO Capital, was quoted saying in the statement.

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