U Gro Capital raises $10M in dollar bonds on IFSC exchange
What's the deal? U Gro CapitalDealroom has a profile for this one. Try Dealroom →, an Indian financial services company, has approved the issuance of up to 1,000 senior, unsecured, dollar-denominated redeemable non-convertible bonds totalling $10 million. The company's Investment and Borrowing Committee cleared the move on October 9, 2026. Each bond carries a face value of $10,000.
How is it structured? The bonds will be issued through private placement and listed on the India International Exchange IFSCDealroom has a profile for this one. Try Dealroom →. They run for 48 months from the September 29, 2026 pay-in date, maturing on September 27, 2030.
The terms: The annual coupon is set at 450 basis points over Term SOFR, with interest paid semi-annually. Principal is repaid in equal instalments at 30, 36, 42, and 48 months from the pay-in date.
The bonds are unsecured, with no charge placed against the issuer's assets. A default triggers a 2% per annum penalty over the existing rate on the outstanding principal until resolved.
What's the endgame? U Gro Capital said the raise is aimed at enhancing liquidity and supporting operational expansion.
The signal: By tapping dollar bonds listed on the IFSC exchange in GIFT City, U Gro joins a growing set of Indian financial firms using offshore-style instruments onshore to diversify funding beyond rupee debt.
Read more: businessupturn.com
