Latest news with #UGROCapitalLtd
Business Upturn
16-07-2025
- Business
- Business Upturn
UGRO Capital announces CEO appointment and key senior management changes
By Aditya Bhagchandani Published on July 16, 2025, 14:39 IST UGRO Capital Ltd announced a series of senior management changes following its board meeting held on July 16, 2025, as part of its leadership realignment. Anuj Pandey, earlier serving as Chief Risk Officer, formally took charge as the Chief Executive Officer (CEO) and was also designated as Key Managerial Personnel (KMP) under Section 203 of the Companies Act, 2013. His elevation was effective from July 1, 2025, and previously disclosed on June 24, 2025. The board also approved the elevation of Ms. Irem Sayeed as the new Chief Risk Officer (CRO), replacing Pandey. She has been with UGRO since its founding in 2018, previously serving as Chief Credit Officer. Mr. Sameer Nanda was appointed as Chief Revenue Officer, replacing Mr. Amit Mande, who will remain with the company until August 8, 2025, to ensure a smooth transition. Ms. Shilpa Bhatter joined as the new Chief Financial Officer (CFO), taking over from Mr. Kishore Lodha, who stepped down from his position. The company thanked both Mr. Lodha and Mr. Mande for their contributions to building UGRO's financial and revenue engines respectively. These changes reflect UGRO's intent to strengthen its leadership team as it continues its focus on growth in the MSME lending space. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
17-06-2025
- Business
- Business Standard
UGRO Capital to acquire Profectus Capital for Rs 1,400 crore deal
UGRO Capital Ltd, a BSE-listed non-banking finance company, will acquire 100 per cent stake in Profectus Capital Private Ltd for an aggregate consideration of Rs 1,398.60 crore to scale up financing of the Micro, Small and Medium Enterprises (MSME) ecosystem in the country. Profectus, a non-banking finance company backed by private equity firm Actis, had assets under management of Rs 3,468 crore as of March 2025, with a presence across seven states through a 28-branch network and over 800-member team, according to UGRO's filing with BSE. The proposed acquisition transaction will be funded from the proceeds of the preferential issue of compulsory convertible debentures. The deal is subject to shareholders' and regulatory approvals. The amount for acquisition is payable in cash in a single tranche on closing. UGRO Capital stock closed 1.13 per cent lower at Rs 171.3 per share on BSE. Shachindra Nath, Founder and Managing Director, UGRO Capital, said this strategically priced acquisition deploys equity raised to achieve instant scale. It will give cost savings of Rs 115 crore and annualised incremental profitability of Rs 150 crore, thus boosting return on assets by 0.6–0.7 per cent. Also, integrating Profectus' school finance expertise unlocks Rs 2,000 crore growth potential and strengthens the secured asset mix—accelerating our journey to become India's largest MSME lender, he added. UGRO Capital, an MSME-focused NBFC with pan-India presence from Tier-I to Tier-IV cities, had assets under management of Rs 12,003 crore as of 31 March 2025. InCred Capital acted as the exclusive advisor to UGRO Capital on this acquisition transaction. SNG & Partners was engaged as the legal counsel to the company. The company engaged PricewaterhouseCoopers Services LLP for financial due diligence and Legacy Growth Partners for tax due diligence for the transaction.
