The shares of Ugro Capital zoomed 7.75 per cent after the company announced NCD (non-convertible debentures) for Rs 200 crore.
The shares of the Ugro capital rang the opening bell at Rs 243.30 per share on the NSE (National Stock Exchange). The stock started climibing after after the opening bell levels, and went on to touch the day-high level of Rs 258.35 per share on the NSE.
The stock shoot up 7.75 per cent at day high level of Rs 258.35 per share on Indian stock exchange with a surge of Rs 18.60 in the stock price.
The stock was trading at Rs 253.35 per share on the National Stock Exchange, zooming almost 5.67 per cent amounting to a Rs 13.60 move at 11.20 am.
Details of the NCD (non-convertible debentures)
Size of the NCD issue
UGRO Capital declared the issuance of rated, secured, redeemable, non-convertible debentures with a face value of Rs 1,000 per NCD (non-convertible debentures). The issue has a Rs 100 crore base issue size and an additional Rs 100 crore retention option, for a total issue size of up to Rs 200 crore.
Duration and yield of the issue
For secured NCDs, the duration of this issue is 18 months, 24 months, and 30 months. For NCD holders across all categories, the effective yield (percentage per year) varies from 10.64 per cent to 10.91 per cent. At maturity, the redemption amount (Rs / NCD) for holders of NCDs in all categories is Rs 1000.
subscription timetable of the NCD
With the option to close early, subject to compliance with Regulation 33A of the SEBI NCS Regulations, the issue will open on Thursday, October 10, 2024, and close on Wednesday, October 23, 2024.
The rating of the NCD
India Ratings and Research has assigned the NCDs a rating of IND A+/Stable. This rating indicates that the securities have a sufficient level of safety in terms of timely payment of debts.
Lead manager and registrar
The issue's lone lead manager is Tipsons Consultancy Services; its registrar is Link Intime India; and its debenture trustee is MITCON Credentia Trusteeship Services.
Lisitng of the NCD
The NSE is the designated stock exchange for the issue, and it is proposed that the NCDs be listed on stock exchanges.
