Mid-sized non-banking lender U GRO Capital has raised about Rs 400 crore from banks and through other debt instruments as it expects credit demand to gather momentum with the coronavirus-induced lockdown getting lifted in most parts.
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On the asset side, it said as much as 63 percent of the loan book of Rs 847 crore is under a moratorium, but 69 percent of the total assets are secured.
The company's optimism about loan demand stems from rising disbursals which has reached 80 percent of pre-lockdown levels, it said.
But, during March-July, it sanctioned Rs 150 crore loans, of which over Rs 100 crore are yet to be drawn down.
Earlier in May, U GRO Capital has entered a partnership with Global Value Creation Partners (GVCP) to enable the former’s growth as a leading impact financing company for small businesses.
According to GVCP, its engagement will help U GRO accelerate its development as an environmental, social, and governance lender, and also foster domestic and global partnerships with the impact community.
(Disclaimer: Additional background information has been added to this PTI copy for context)
(Edited by Suman Singh )
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