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UGRO Capital has collaborated with FMO and secured Rs 2,600 million through Non-Convertible Debentures (NCDs).

Banking & Finance | Dated: 20 Feb 2025

In February 2025, UGRO Capital, a data-driven Non-Banking Financial Company (NBFC) based in Mumbai, Maharashtra, announced a new financing partnership with FMO, the Dutch development bank that supports entrepreneurial growth to promote economic and social progress in India.

🎯 Key Highlights:

  • - UGRO Capital has raised Rs 260 crore (INR) through Non-Convertible Debentures (NCDs) to fund projects focused on women empowerment, addressing regional inequalities, and promoting youth empowerment.

💡 Other Important Facts:

  • (i) FMO fully subscribed to the INR-denominated NCD issuance, showing its commitment to supporting sustainable growth and helping entrepreneurs succeed.
  • (ii) A successful transaction in December 2023, which mainly supported green finance with an unlisted NCD issue of USD 30 million (Rs 2,490 million), has strengthened UGRO Capital's reputation as a trusted partner for impact financing.
  • (iii) UGRO Capital has raised Rs 1.5 billion from both global and domestic development financial institutions and impact funds, including IFU (Denmark Government Sovereign Fund), Asian Development Bank (ADB), ResponsAbility, Calvert Impact Capital, Enabling Qapital, GMO, Water Equity, Microvest, and Indian Renewable Energy Development Agency Limited (IREDA).

📚 Test Your Knowledge:

Recently, which financial institution has collaborated with FMO and secured Rs 2,600 million through Non-Convertible Debentures (NCDs)?

Correct Answer: UGRO Capital

🚀 Quick Recap: