Connect with us

Hi, what are you looking for?

Share Market

BSE-listed MSME lender U GRO Capital to list on NSE; eyes Rs 20,000 crore AUM in five years

Financial Express - Business News, Stock Market News

McNally BharatAmong other online lending apps for MSMEs are Indifi, ZipLoans, Lendingkart, BharatPe, FlexiLoans, etc.

Credit and Finance for MSMEs: Small business lender U GRO Capital on Tuesday announced that it will list on the National Stock Exchange (NSE) on August 11. Listed on the Bombay Stock Exchange (BSE), the company said it will become the first fintech lending platform to be listed on both exchanges and will aim to expand access to a larger set of investors and broker network. Its fully paid-up 70,528,550 shares with face value of Rs. 10 each, symbol UGROCAP and series EQ, will be admitted to dealings on NSE. U GRO Capital was set up in 2017 by Shachindra Nath after buying out Chokhani Securities Limited and has so far raised around Rs 920 crore from multiple institutional investors including private equity funds and family offices. 

U GRO said it “aspires to build Rs 20,000 crore of asset under management in next five years and take approximately 1 per cent market share of the outstanding MSME credit in India by opening around 270 branches with an aim to serve over lacs of small business customers,” the company said in a statement. “With this development, we aim to expand access to a larger set of investors and broker community,” said Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital.

Subscribe to Financial Express SME newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises

Meanwhile, gross bank credit deployed to micro and small enterprises (MSEs) had witnessed contraction for the second month as well of FY22. The outstanding as of May 2021 stood at Rs 10.27 lakh crore, down by negative 3.6 per cent year-on-year (YoY) growth from Rs 10.65 lakh crore as of May 2020, the RBI’s May bulletin had showed. The negative YoY growth had further increased from minus 2.2 per cent in April 2021 that followed the lowest growth of 2.5 per cent recorded in March 2021 since its previous deepest plunge to 1.5 per cent in May 2020. Among other online lending apps for MSMEs are Indifi, ZipLoans, Lendingkart, BharatPe, FlexiLoans, etc.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


Cybercriminals Adopt the Blockchain to Broadcast confidential Messages A group of analysts from SophosLabs represents that programmers working the crypto-jacking malware, Glupteba, have been...


PUBG unban in India soon as PUBG Corp. Will The Government Of India Unban PUBG? PUBG Mobile was Ban in India, PUBG organization has...


A standard method to execute Bitcoin could be powerless against double-spending, the new examination has found. Blockchain sleuths at ZenGo, a wallet startup, have...

BlockChain News

HDD mining, also known as “storage mining”, is a process of obtaining cryptocurrency based on hard disk memory. Compared with traditional POW mining, hard...