The deal is reportedly set in two separate securitisation and bond deals. U Gro has done the first securitisation transaction with Poonawalla Finance, part of the Poonawalla family. Further, Sachin Bansal entered a non-convertible debenture deal with U Gro.
U GRO, founded by financial services veteran Mr. Shachindra Nath, in December 2017, had earlier raised approximately USS 140 Mn from a diversified set of global private equity investors
The company has created a range of Sector-Specific Loan Products, using a combination of industry data and advanced analytics, and it’s offerings are directed towards enabling SMEs in the identified sectors.
“These transactions demonstrate our ability to securitise our book at an early stage of our development and establish that besides conventional term–financing, we have the ability to raise resources from alternative channels as well,” Nath said.