Ugro Capital Limited, previously known as Chokhani Securities Limited, is a significant player in the non-deposit taking Non-Banking Financial Company (NBFC-ND-SI) sector in India. Established on March 11, 1998, the company specializes in financing the MSME sector with a strategic focus on industries such as Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment & Components, Auto Components, and Light Engineering.
In 2019, Ugro Capital expanded its business scope through a Scheme of Arrangement with Asia Pragati Capfin Private Limited (APCPL), which was approved by the National Company Law Tribunal, Mumbai. This arrangement facilitated the transfer of APCPL's lending business to Ugro Capital, effective from June 30, 2019, and resulted in the issuance of over 13.5 million equity shares to APCPL shareholders. This strategic move underscores Ugro Capital's commitment to strengthening its lending capabilities and expanding its footprint in the financial services sector.
