UGRO Capital Sets Dates for Meetings of Shareholders and Creditors Amid Scheme of Amalgamation
Ugro Capital Limited is convening separate meetings for its Equity Shareholders, Secured Creditors, and Unsecured Creditors in connection with the proposed Scheme of Amalgamation involving Profectus Capital Private Limited (PCPL). The meeting notices were issued following a directive from the National Company Law Tribunal (NCLT), directing the companies to seek approval for the merger.The amalgamation involves the transferor company, PCPL, merging into the transferee company, UGRO Capital. The scheme allows for the dissolution of PCPL without winding up, as it is a wholly owned subsidiary of Ugro Capital. A key aspect of the scheme includes the vesting of Non-Convertible Debentures (NCDs) issued by PCPL in the Transferee Company, with no equity shares being issued pursuant to the amalgamation.
The meetings are scheduled for Tuesday, September 22, 2026, and will be conducted through Video Conferencing or other audio visual means (VC/OAVM). The voting process is managed by NSDL, and all notices and explanatory statements have been made available electronically via Ugro Capital’s website.
Key details regarding the meetings and financial exposure are summarized below:
| Category | Meeting Date | Mode of Meeting | Cut-off Date for Voting |
|---|---|---|---|
| Equity Shareholders | September 22, 2026 (10:30 A.M. IST) | VC/OAVM | September 15, 2026 |
| Secured Creditors | September 22, 2026 (12:15 P.M. IST) | VC/OAVM | March 31, 2026 |
| Unsecured Creditors | September 22, 2026 (2:30 P.M. IST) | VC/OAVM | March 31, 2026 |
The meeting notices for the respective stakeholders outline the financial commitment and expectations associated with the scheme. The amounts due to creditors of the Transferor Company (PCPL) as of March 31, 2026 were:
| Creditor Type | Amount Due (INR) |
|---|---|
| Secured Creditors (PCPL) | 16,40,85,73,458 |
| Unsecured Creditors (PCPL) | 40,01,51,536 |
Similarly, the amount due to creditors of the Transferee Company (UGRO Capital) as of March 31, 2026 stood at:
- Secured Creditors: INR 80,639,408,437
- Unsecured Creditors: INR 11,50,54,32,527
The scheme also stipulates that the authorized share capital of PCPL will be transferred to Ugro Capital, resulting in a consequential increase in the authorized share capital of the Transferee Company. The scheme's effectiveness is conditional upon multiple approvals, including receipt of no objection letters from stock exchanges and the sanction of the Scheme by the NCLT.
UGROCAP Stock Price Movement
Ugro Capital Limited closed on Friday, rallying 0.87% to settle at ₹93.34 in the financial services sector. The stock traded a volume of 253,625 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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