UGRO Capital’s 2-bln-rupee maiden NCD public issue may open in Feb
Informist, Tuesday, Jan 9, 2024
–Sources:UGRO Capital eyes up to 2-bln-rupee maiden NCD public issue
–Sources: UGRO Capital 2-bln-rupee NCD public issue may open in Feb
–Sources: UGRO Capital to offer NCDs of up to 3 yrs in public issue
By Asmita Patil
MUMBAI – UGRO Capital plans to raise up to 2 bln rupees through a maiden public issue of secured, redeemable non-convertible debentures, and the issue may open for subscription in February, sources told Informist. The company may offer debentures maturing in up to three years through this issue.
"We haven't thought about the rates…post Budget, there is policy and there are some talks about dovish tone, then the market will rally, and they may get better rates, so we need to decide on rates only after the Budget," a source involved in the transaction said.
The issue has a base size and a greenshoe option of 1 bln rupees each, according to a draft prospectus filed by the company with exchanges. The debentures, rated 'A' by India Ratings, are proposed to be listed on BSE and the National Stock Exchange.
JM Financial is the arranger for the issue.
360 ONE Prime, Muthoot Fincorp, Muthoot Finance, and Edelweiss Financial Services have lined up public issuance of debentures worth up to 30.5 bln rupees this month. "…we will see the response to these issues and then decide the details," the source said.
Companies and financial institutions have raised 137.43 bln rupees through public issuance of debentures so far this year, compared to 92.12 bln rupees in 2022-23 (Apr-Mar), according to data from the Securities and Exchange Board of India.
At 1419 IST, shares of UGRO Capital were almost flat at 279.85 rupees on the NSE. End
UGRO Capital’s 2-bln-rupee maiden NCD public issue may open in Feb
Informist, Tuesday, Jan 9, 2024
–Sources:UGRO Capital eyes up to 2-bln-rupee maiden NCD public issue
–Sources: UGRO Capital 2-bln-rupee NCD public issue may open in Feb
–Sources: UGRO Capital to offer NCDs of up to 3 yrs in public issue
By Asmita Patil
MUMBAI – UGRO Capital plans to raise up to 2 bln rupees through a maiden public issue of secured, redeemable non-convertible debentures, and the issue may open for subscription in February, sources told Informist. The company may offer debentures maturing in up to three years through this issue.
"We haven't thought about the rates…post Budget, there is policy and there are some talks about dovish tone, then the market will rally, and they may get better rates, so we need to decide on rates only after the Budget," a source involved in the transaction said.
The issue has a base size and a greenshoe option of 1 bln rupees each, according to a draft prospectus filed by the company with exchanges. The debentures, rated 'A' by India Ratings, are proposed to be listed on BSE and the National Stock Exchange.
JM Financial is the arranger for the issue.
360 ONE Prime, Muthoot Fincorp, Muthoot Finance, and Edelweiss Financial Services have lined up public issuance of debentures worth up to 30.5 bln rupees this month. "…we will see the response to these issues and then decide the details," the source said.
Companies and financial institutions have raised 137.43 bln rupees through public issuance of debentures so far this year, compared to 92.12 bln rupees in 2022-23 (Apr-Mar), according to data from the Securities and Exchange Board of India.
At 1419 IST, shares of UGRO Capital were almost flat at 279.85 rupees on the NSE. End
