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Home News

Ugro Capital secured around Rs 400 Crore

by Udit
August 15, 2020
in News
Reading Time: 1 min read
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U GRO Capital
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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.

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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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