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InCred Capital’s Investment Banking Business Continues its Winning Streak

In Business, News
May 03, 2024

The Investment Banking business of InCred Capital has closed another coveted deal, a mark of the significant strides it has been making in M&A, ECM (Equity Capital Markets) and DCM (Debt Capital Markets).

After the highly successful INR 3,693 Cr IndiaBulls Housing Finance rights issue, which saw total subscription of INR 7,517 Cr, InCred Capital has now announced its lead role in the successful capital raise by UGRO Capital Limited (NSE: UGROCAP | BSE: 511742).

The capital raise was executed through an innovative combination of Compulsorily Convertible Debentures and Warrants. This locked in the capital requirements for both the current year and the one following, ensuring that UGRO is able to prioritize growth.

From structuring the capital raise to guiding the company through the process and finally to generating demand for the issue from both domestic and international investors, including prominent family offices, UHNIs and select institutional investors, InCred has played a leading role from end to end.

Commenting on the deal, Bhupinder Singh, Founder & Group CEO, InCred, said, “InCred is privileged to have advised UGRO Capital on its equity raise. The phenomenal success of this deal, following on from our landmark transaction for IndiaBulls, is a testimony to the strength of our capital markets franchise. InCred’s integrated approach and extensive network across wealth management, investment banking and ECM platform enables us to offer innovative capital markets solutions to our clients and turbocharge their growth stories.”

Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “The InCred team did a very impressive and commendable job proving to be a solid partner to us at all stages of the transaction. The intrinsic value of UGRO and potential upside was identified and understood very early by InCred and they were able to present and pitch to highly acclaimed investors. At every stage they provided invaluable advice demonstrating strong commitment and provided incisive insights on our growth story to both domestic and international investors alike. InCred got very unique investors on the table who shared our vision and were keen to participate in our growth.”