UGRO Capital buys MyShubhLife in a Rs 45 Cr cash-stock deal yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
The board also approved raising equity capital of Rs 1,322 crore through Compulsory Convertible Debentures (CCD) and warrants. The equity fundraise is subject to shareholder approval.
The deal with MSL enables Ugro Capital to enter the tech-enabled embedded finance market. The non-bank lender will initially pay Rs 28 crore to acquire 76% of MSL, while the remaining Rs 17 crore will be paid later to secure full ownership of the company.
Currently, our weighted average cost is at 7.8 percent for FY24, we may go up to 8.1-8.5 percent primarily based on the current scenario. However, we will continue to be competitive, says Sudipta Roy.
Veteran Banker Abhay Aima passes away in Bandra moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.