SNG & Partners has advised and assisted UGRO Capital Limited in the preferential issue of compulsory convertible debentures and convertible warrants aggregating to INR 1,333 Crores to various identified non-promoters. The funds were raised from a mix of new and existing investors and family offices including Samena Capital, one of the existing private equity investors. While Samena Capital committed Rs 500 crore through warrants, institutional investors like Aregence and some marquee family offices have committed to compulsorily convertible debentures and warrants.
UGRO Capital Limited is a leading technology-enabled MSME lender. It offers a dedicated programme for secured and unsecured loans aimed at MSMEs and has partnered with large original equipment manufacturers (OEMs) to provide an end-to-end solution. The firm played a key role in structuring and negotiating the complex terms of the preferential issue, ensuring a seamless alignment of investor interests and regulatory compliance. Aside from the firm’s extensive experience in the financial sector, the close collaboration with UGRO Capital Limited was also instrumental in bringing the transaction to a timely and successful closure, securing commitments from a diverse group of investors.
Mr. Amit Aggarwal [Managing Partner (Corporate & Non-Contentious Practice)] provided strategic inputs. The transaction team consisted of Mr. Aditya Vikram Dua (Partner), Mr. Rachit Munjal (Senior Associate), and Ms. Ayushi Parnami (Senior Associate).
