Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

U GRO Capital signs SME loan co-origination agreement with SBI to facilitate broader credit outreach and faster disbursal

Posted On: 2019-11-25 22:41:49

U GRO Capital, a BSE listed, technology-enabled small business lending platform, entered into a loan co-origination partnership with State Bank of India (SBI). The agreement was signed by Mr. Jayanta Deb Majumdar, General Manager, SBI and Mr. Shachindra Nath, Executive Chairman of U GRO Capital, in Mumbai.

The collaboration will work towards offering credit at a competitive rate of interest with a reduced turn-around time by using U GRO Capital's indigenously developed co-lending technology platform 'GRO- Xstream'.

'GRO-Xstream' empowers banks and other large financial institutions to reach out to deepen their distribution reach and service small businesses across India. Smaller NBFCs can also opt for co-lending partnership with U GRO Capital leveraging U GRO Capital's proprietary analytical tool.

Commenting on the association with SBI, Mr. Abhijit Ghosh, Whole Time Director & CEO of U GRO Capital said, "We are delighted to enter into the co-origination agreement with SBI, the largest lender in the country. The synergy will help in increasing access to credit for SMEs and MSMEs across the country. Our proprietary co-lending technology platform 'GRO-Xstream' and deep sectoral expertise combined with SBI's vast experience in lending and large capital base will increase availability of liquidity to growth-focused SMEs both in metros and tier-level cities. We are committed to make the lending eco-system of the country more inclusive. We are looking forward to a long-lasting association with SBI."

U GRO Capital is focusing on entering into co-origination partnerships with larger banks or NBFCs. Loan co-origination is a key component in the Company's threepronged liability strategy involving balance sheet lending, an off-balance sheet model including assignments and securitization to create a truly hybrid lending model. U GRO Capital has also entered into its first loan co-origination partnership with Bank of Baroda in October this year.

U GRO Capital is a new-age listed fintech platform whose mission is to solve the evergrowing credit gap in the SME sector based on knowledge and technology. The Company has developed proprietary tools which include customized SME sector - specific statistical scorecards, underwriting insights based on deep sub-sector level research put together in a highly integrated technology platform. This helps in getting an in-principle decision for the loan application within 60 minutes. The Company has already disbursed more than INR 600 crore across 6000+ small businesses in a short span of 10 months.

U GRO Capital, founded by financial services veteran Mr. Shachindra Nath, in December 2017, had previously raised approximately US$ 140 Mn from a diversified set of global private equity investors such as NewQuest, ADV Partners, PAG and Samena Capital and public market investors such as Abakkus, PNB Metlife and multiple Indian family offices.

Shares of Ugro Capital Ltd was last trading in BSE at Rs.176.5 as compared to the previous close of Rs. 179.8. The total number of shares traded during the day was 815 in over 14 trades.

The stock hit an intraday high of Rs. 176.5 and intraday low of 161.1. The net turnover during the day was Rs. 141841.

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.336.1 as compared to the previous close of Rs. 329.15. The total number of shares traded during the day was 1065570 in over 11814 trades.

The stock hit an intraday high of Rs. 337 and intraday low of 328.5. The net turnover during the day was Rs. 355666289.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Federal Bank Ltd Q1FY21 consolidated PAT higher at Rs. 409.50 crore

Google to invest Rs. 33,737 crore in Jio Platforms Ltd

Indian Metals & Ferro Alloys Ltd postpones board meeting to July 27, 2020

Trigyn awarded - National Cooperative Purchasing Alliance (NCPA) - IT Services Contract

IFGL Refractories Ltd board to consider Q4FY20, FY2020 results, final dividend on July 18, 2020

Bandhan Bank Ltd reports Q1FY21 net profit of Rs. 549.81 crore

TCS Now Second Largest Among UK Software and IT Services Companies

Zydus Cadila receives final approval from USFDA for Betamethasone Dipropionate Ointment

Tata Consumer Products Ltd board to approve Q1FY21 results on Aug 4, 2020

Maruti Suzuki to proactively recall 134,885 units of WagonR and Baleno

NELCO Ltd board to approve quarterly results on July 31, 2020

Sonata Software Ltd board to announce 1st quarter results on Aug 10, 2020

Steel Strips Wheels Ltd bags news orders for mobile home market from USA

Havells India Ltd board to consider Q1FY21 results on July 27, 2020

Zydus starts the Human Dosing for Adaptive Phase I & II clinical trials

Chinese firm announces open offer to acquire shares of Thirdwave Financial Intermediaries Limited

Majesco Enables United Educators Digital Transformation Journey

Aarti Surfactants Ltd FY20 PAT at Rs. 2.09 crore

ICRA Limited Board approves audited financial results for Q4, FY2020

Oriental Hotels Ltd board to approve first quarter results on July 28, 2020

Indiamart Intermesh Ltd board to announce quarterly results on July 21, 2020

Bharti Infratel Ltd board to consider 1st quarter results on July 27, 2020

Monnet Ispat & Energy Ltd board to approve Q1FY21 results on July 21, 2020

ICRA Ltd Board approves Dividend of Rs. 27 for FY20

Vanguard and Infosys announce strategic partnership

India Ratings Downgrades HEG to 'IND AA-'/Stable

Prestige Estates subsidiary acquires equity stake in DB (BKC) Realtors Private Limited

Gujarat Hotels Ltd posts Rs. 0.87 crore PAT in Q1FY21

Oberoi Realty Ltd Q1FY21 consolidated PAT slides to Rs. 28.07 crore

YES Bank approves allocation of 3,415,384,614 Equity Shares to anchor investors

National Peroxide Ltd Board approves dividend of Rs. 12.50

Oberoi Realty Ltd board approves fund raising proposals

Suzlon Energy Limited allots 51,19,92,560 shares

CreditAccess Grameen Limited board to consider terms of NCD issue on July 17, 2020

IDFC First Bank Ltd board to announce Q1FY21 results on July 28, 2020

Oberoi Realty Ltd Q4FY20 consolidated PAT climbs to Rs. 250.96 crore

National Peroxide Ltd Q4FY20 net profit at Rs. 3.03 crore

AAI, BEL sign MoU for co-operation in Civil Aviation industry

Godrej Properties Ltd board to announce Q1FY21 results on Aug 5, 2020

Hero MotoCorp announced as the Title Partner of Hero Open

Opto Circuits India Ltd sinks to FY2020 loss of Rs. 1367.86 crore

Emami group completes stake sale in Emami Cement

ICICI Securities Ltd board to approve 1st quarter results on July 22, 2020

Chambal Fertilisers & Chemicals Ltd board to announce Q1FY21 results on July 29, 2020

Salasar Techno Engineering Ltd updates on tower supply agreement

Dhanlaxmi Bank Limited to exercise call option on bonds

Indo Amines Ltd board to consider Q4FY20 results on July 20, 2020

Paramount Communications Ltd posts consolidated PAT of Rs. 5 crore in Q4 FY20

Reliance Industrial Infrastructure Ltd Q1FY21 net profit at Rs. 2.05 crore

Delta Corp Ltd Q1FY21 consolidated loss at Rs. 28.24 crore

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019