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U GRO appoints Global Value Creation Partners to support its development as a premier impact financing platform for MSMEs

Posted On: 2020-05-27 20:53:27

U GRO entered into a multi-year engagement with Global Value Partners (GVCP) founded by Mr. Sanjeev Goel, Ex Global Co-Head of Equities for Financial Institution Group of International Finance Corporation (IFC) of the World Bank Group. GVCP has been founded to promote economic and societal development in emerging markets and generate sustainable value for all stakeholders. The firm brings global network and knowledge, thought leadership, and execution support to corporates and impact investors it partners with. GVCP would support U GRO in accomplishing its mission to 'Solve the Unsolved' the small business credit problem in India. The engagement will also help U GRO accelerate its development as an ESG lender and foster domestic and global partnerships with the impact community.

As a part of the engagement, GVCP has also placed two global experts as advisors to U GRO to support in the areas of strategy, corporate and risk governance, and overall institutional development.

Mr. Vincent Polizatto, a senior global risk and credit executive with 40+ years in banking and finance. He was the Chief Risk Officer, Asia Pacific, for IFC with senior- most risk oversight of investment portfolio across more than 20 countries. He was also a core member of the global Risk Leadership Team and the Asia Pacific Senior Management Team. Before joining the IFC, Mr. Polizatto led the World Bank's banking supervision practice assisting various governments in developing their financial sectors, strengthening banking supervision and regulations, resolving banking failures, and systemic distress.

Mr. William Haworth, former Chief Strategist, Chief Credit Officer, and Portfolio Manager in Financial Institutions Group with IFC, is an expert on strategic issues related to the global economy and financial institution development in emerging markets. He has worked in many large emerging markets, including China, India, Russia, Brazil, and Turkey. Before joining IFC, Mr. Haworth was a partner in several major consulting firms dealing with financial sector development, institutional restructuring, and privatization. He has worked globally on institutional reform and performance improvement in commercial banking, capital markets, and central banking.

Commenting on the engagement, Mr. Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital stated, "We are elated on this partnership with GVCP. Mr. Sanjeev Goel, founder and managing head of GVCP, is a thought leader and development banker in emerging markets having invested and managed several billion dollars in financial institutions globally for IFC. With his support, we are confident to create a premier institution for financing small and micro businesses and build a globally benchmarked framework for environmental, social and governance (ESG) for U GRO's operations. We are thankful to GVCP to place Mr. Polizatto and Mr. Haworth on our Advisory Council. Their guidance would help us to achieve our core mission of supporting small businesses in India."

Mr. Sanjeev Goel, founder of GVCP stated on this engagement, "On behalf of GVCP, I am grateful to have the opportunity to support U GRO in its mission. MSMEs in India need efficient, fast, reliable, and cost-effective funding partner with a shared mission - not just a lender - to overcome the obstacles they face in realizing their potential for generating employment and economic prosperity for a large section of the society. U GRO has designed a very differentiated and smart business model for solving the access to finance problem that holds MSMEs back. GVCP will bring global best practices, knowledge, and support from around the world to assist U GRO in accomplishing its mission and becoming an exemplary financial institution of India."

Shares of Ugro Capital Ltd was last trading in BSE at Rs.135 as compared to the previous close of Rs. 130.25. The total number of shares traded during the day was 417 in over 38 trades.

The stock hit an intraday high of Rs. 136.7 and intraday low of 124.15. The net turnover during the day was Rs. 55740.

Source: Equity Bulls

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