Hyderabad, June 18 (UNI) UGRO Capital Limited, a leading DataTech NBFC focused on MSME lending, on Wednesday announced it has executed a Share Purchase Agreement with the existing shareholders of Profectus Capital Private Limited ("Profectus") to acquire 100% of the shares of Profectus.
This all-cash deal, with the consideration payable in a single tranche at closing, shall mobilise proceeds from UGRO's recently announced equity raise and will deploy capital into a fully secured asset portfolio delivering instant scale benefits with zero origination costs, making Profectus a wholly owned subsidiary, the company said in a release.
We estimate that this acquisition would add around Rs 150 crores of annualised profit to UGRO making it a capital adequacy accretive transaction.