Key Points of Issuance of Commercial Papers:
- UGRO Capital Limited’s Investment and Borrowing Committee has approved the issuance of commercial papers, totaling INR 65 crores.
- The commercial papers will have a maturity period of up to 363 days, with INR 15 crores allocated for the shorter end and INR 50 crores for the longer end.
- The approval of the Investment and Borrowing Committee signifies UGRO Capital Limited’s financial stability and growth prospects.
- Commercial papers are an attractive option for companies seeking short-term funding, as they are unsecured and have a maturity period of less than one year.
- The funds raised through the issuance of commercial papers can be used for various business purposes, including working capital, capital expenditures, and debt refinancing.
- UGRO Capital Limited has a reputation for providing innovative and flexible financial solutions to small and medium-sized enterprises in India.
- The company’s commitment to helping small businesses thrive has earned it a trusted position in the Indian financial services industry.
- The decision to issue commercial papers is a positive development for UGRO Capital Limited and the Indian economy as a whole, as access to short-term financing options is crucial for businesses to grow and expand.
Details of Issuance of Commercial Papers:
UGRO Capital Limited’s Investment and Borrowing Committee has given its approval for the issuance of commercial papers, totaling INR 65 crores. The decision was made during the Committee’s meeting held on Thursday, 9th March, 2023. The commercial papers will be issued for a period of up to 363 days, with INR 15 crores allocated for the shorter end of the period and INR 50 crores for the longer end.
The approval of the Investment and Borrowing Committee signals UGRO Capital Limited’s continued financial stability and growth prospects. Commercial papers are an attractive option for companies looking to raise short-term funds quickly, as they are unsecured and have a maturity period of less than one year. The funds raised through the issuance of commercial papers can be used for various business purposes, including working capital, capital expenditures, and debt refinancing.
With this latest development, UGRO Capital Limited is well-positioned to take advantage of new business opportunities and expand its operations. The company has a track record of providing innovative and flexible financial solutions to small and medium-sized enterprises in India. Its commitment to helping these businesses thrive has earned it a reputation as a trusted partner in the Indian financial services industry.
Overall, UGRO Capital Limited’s decision to issue commercial papers is a positive development for the company and the Indian economy as a whole. As the country continues to recover from the pandemic, access to short-term financing options will be critical for businesses looking to grow and expand. UGRO Capital Limited’s willingness to provide such financing is a testament to its commitment to supporting the growth of the Indian SME sector.
About URGO Capital:
UGRO Capital is a lending platform that focuses on small businesses with a technology-enabled approach that emphasizes data analysis. The company is dedicated to providing customized loan solutions for small businesses in eight specific sectors, addressing their unique capital needs.
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