Ugro Capital Limited, formerly known Chokhani Securities Limited was registered on March 11, 1998. The name of the Company was changed from 'Chokhani Securities Limited' to 'Ugro Capital Limited' on September 18, 2018.
UGRO Capital Limited (UGRO), a founding partner of the Priority Sector Lenders Association of India (PSLAI) is committed to addressing India's MSME credit gap, estimated at INR 103 trillion for FY24, through a diversified portfolio of financial products including Secured Business Loans, Business Loans, Machinery Loans, Supply Chain Financing and Embedded Finance.
Ugro Capital is a systemically important non-deposit taking Non-Banking Financial Company (NBFC-ND-SI) and is engaged in the business of lending and primarily deals in financing MSME sector with focus on Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment & Components, Auto Components and Light Engineering segments.
In 2003, the Company made an application for obtaining trading cum clearing membership of National Commodities and Derivatives Exchange (NCDEX), Mumbai.
The Hon'ble National Company Law Tribunal, Mumbai Bench vide order dated 13th June 2019 had approved the Scheme of Arrangement
between Asia Pragati Capfin Private Limited (APCPL) and UGRO Capital Limited (the Company) from 1st April 2018. Resultantly, the Lending Business of APCPL was transferred to the Company and the Scheme was effective from 30 June, 2019. Pursuant to the said Scheme, Company allotted 1,35,65,891 equity shares of Rs 10/- each to the shareholders of APCPL on 30 July, 2019.
In 2022, Company added 46 new branches across their existing 5 states of Tamil Nadu, Telangana, Karnataka, Gujarat and Rajasthan. It completed the second equity capital raise of approx. Rs 340.50 in May, 2023.
In 2024, the Company issued and allotted 66,11,325 fully paid-up equity shares of face value of Rs 10/- each aggregating to Rs. 10,049.21 lakhs, to qualified institutional buyers under Qualified Institutional Placement. 1,52,38,095 fully paid-up equity shares of face value of Rs. 10/- each aggregating to Rs. 2400 lakhs, to Danish Sustainable Development Goals Investment Funds through Preferential Issue.
The number of branches increased from 150 to 235 in March, 2025. The Company crossed Rs 12000 Cr in AUM, a 33% year-on-year growth in FY25. The Emerging Market (EM) branch network increased from 127 branches in FY24 to 212 branches by March, 2025, adding 85 new branches across the various states. It operated 23 Prime Branches in March, 2025.