Ugro Capital Limited (formerly known Chokhani Securities Limited) was registered on March 11, 1998. The Company name was changed from 'Chokhani Securities Limited' to 'Ugro Capital Limited' on September 18, 2018. 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 the year 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 the appointed date, 1st April 2018. Resultantly, the lending business of APCPL was transferred to the Company and accordingly the Scheme was effective from 30th June 2019. Through the said Scheme, the Company has allotted 1,35,65,891 equity shares of Rs 10 each to the shareholders of APCPL on 30th 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.