*Ugro Capital raises Rs 138 cr debt in impact financing from ResponsAbility Mumbai, Feb 7 (PTI) Small businesses focused non-banking lender Ugro Capital has raised its first impact focused debt investment of Rs 138 crore from funds managed/advised by the Switzerland-based impact investor ResponsAbility.
The transaction was structured in two legs: in the first leg raising Rs 31 crore in ECB (External Commercial Borrowings), and Rs 107 crore in rupee-denominated NCDs (Non-Convertible Debentures) in the second leg, the city-based NBFC said on Monday.
Shachindra Nath, executive chairman and managing director of Ugro Capital, said this partnership with ResponsAbility will go a long way to further financial inclusion and this debt transaction affirms the impact investors’ confidence in our business model.
*** *Procurement startup H3Mart raises $5 lakh H3Mart, which is a procurement startup focused on the hospitality industry, has raised USD 5 lakh (about Rs 3.7 crore) in pre-seed funding from angel investors.
Investors include Vineet Saxena, co-founder of Myntra; Akash Gehani, co-founder of Instamojo; Anuj Rathi of Swiggy; Sachin Agarwal, co-founder of Bizongo; Karan Tanna, founder of Ghost Kitchens; Sunder Nookala, co-founder of Kwench & Comdex Solutions amongst others, the startup said.
Founded by Daksh Asija and Arjun Wadhwa in April 2021, H3Mart aims to disrupt the traditional B2B procurement landscape through its tech-enabled supply chain automation and supply chain financing.
*** *India’s tractor exports jump 72% during Apr-Dec India’s export of tractors rose 72 per cent to USD 1,025 million (about Rs 7,653 crore) during the April-December 2021 period as compared to USD 594 million in the same period previous year, the commerce ministry said on Monday.
The major destinations for the exports include the US, Nepal, Bangladesh, Thailand and Sri Lanka, it said.
Union Budget 2022 has proposed to phase out the concessional rates in capital goods and project imports gradually, it added.
“This is another step towards creating a level playing field for domestic manufacturers and capacity creation in the sector which includes tractors,” it added. PTI BEN RR RUJ RUJ
