U GRO Capitals AUM grows by over 126 per cent in FY22 to Rs 2,972 crore

As of March 2022, U GRO Capital operates out of over 90 branches, which has almost tripled since March 2021.

U GRO Capital, a listed MSME lending fintech platform, on Tuesday filed its monthly business updates, which indicated the company's healthy growth in the last one year. 

The lender’s quarterly loan origination increased by 114 per cent to Rs 963 Crore in Q4FY22 as compared to Rs 449 Crore Q4FY21. The company also saw a rise of 126 per cent in the overall AUM taking the number to INR 2,972 crore as on March 2022. 

While January 2022, was a bit subdued on account of covid third wave, U GRO Capital has shown resilience and steady recovery in loan origination at a healthy monthly run rate of  approximately INR 350 crores. The company also continued to maintain a healthy liquidity position, with its total liabilities (excluding Direct Assignment) standing at INR 1,821.21 crore as of March 2022, with an addition of 12 new lenders during March 2022 thereby further diversifying the liability base to a total of 62 lenders.

As of March 2022, U GRO Capital operates out of over 90 branches, which has almost tripled since March 2021. Further, its employee strength grew to 944 in Q4’FY22 from 580 in the last quarter. The company is taking significant steps towards its aspiration of acquiring 1 per cent market share of MSME financing and achieving an AUM of INR 20,000 crore.

U GRO Capital, is in the process of raising Rs100 crore through a public NCD which was announced earlier this month. The lender is offering 10 per cent per annum, payable quarterly for 18 months, 10.15 per cent per annum payable monthly, for 27 months and 10.40 per cent per annum payable monthly, for 36 months. The company seeks to utilize the funds for onward lending, financing, repayment of interest and principal of existing borrowings and towards general corporate purposes.