ICRA Limited · Ugro Capital Limited: Rating withdrawn for PTCs backed by a pool of MSME loan receivablesICRA Limited · discovered
Agency source Company dossier
UGRO Capital
NSE:UGROCAP · ISIN INE583D01011
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- ₹95.99 29 Jul 2026
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UGRO Capital
Ratings & risks
Credit signals
Agency evidenceRating-action history
ICRA Limited · Ugro Capital Limited: Rating withdrawn for PTCs backed by a pool of MSME loan receivablesICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating withdrawn for PTCs backed by a pool of MSME loan receivablesICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating withdrawn for PTCs backed by a pool of MSME loan receivablesICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Ratings reaffirmed for PTCs backed by unsecured MSME loan receivables issued by Bear 08 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Ratings upgraded for two PTCs issued under MSME loan receivables securitisation transactionsICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating upgraded for PTCs issued under MSME loan receivables securitisation transactionICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating withdrawn for PTCs under securitisation transaction issued by Zoey 01 2023, backed by MSME loan receivablesICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating confirmed as final for PTCs backed by unsecured business loan receivables (originated under co-lending partnerships) issued by Bear 08 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Provisional [ICRA]AA-(SO) assigned to Series A1 PTC backed by MSME loan receivables issued by Zoey 01 2023ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Lotus Sept 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Nimbus 2022 UBL CondorICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Rating confirmed as final for PTCs backed by unsecured business loan receivables issued by Eternals August 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Provisional [ICRA]A+(SO) assigned to PTC Series A1 backed by unsecured business loan receivables issued by Nimbus 2022 UBL CondorICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Provisional [ICRA]AA-(SO) assigned to PTC Series A1 backed by unsecured business loan receivables issued by Lotus Sept 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Provisional [ICRA]A+(SO) assigned to PTC Series A1 and Provisional [ICRA]A-(SO) assigned to PTC Series A2 backed by unsecured business loan receivables (originated under co-lending partnerships) issued by Bear 08 2022ICRA Limited · discovered
Agency source ICRA Limited · Ugro Capital Limited: Provisional [ICRA]AA(SO) assigned to PTC Series A1 backed by unsecured business loan receivables issued by Eternals August 2022ICRA Limited · discovered
Agency source Risk research framework
Analyst reviewQuestions to test against evidence
Operating deterioration
HighTrack sector-specific operating metrics and reconcile them across reporting periods.
Funding and liquidity
HighReview debt maturity, repricing, liquidity and rating commentary where relevant.
Execution versus guidance
MediumCompare management statements with subsequent reported delivery.
Governance and key-person change
MediumConnect management transitions, related parties and auditor observations.