MUMBAI: Small businesses focused non-bank lender Ugro Capital has announced the takeover of Profectus Capital for Rs 1,400 crore under which it will acquire 100% of shares of from the promoters of Profectus.
Post this all-cash deal, Profectus will become a wholly owned subsidiary of Ugro, the company said in a statement Tuesday.
Ugo expects the acquisition to add around Rs 150 crore to its annual profit.
The acquisition will also drive Ugro's loan book by 29% helping it diversify the loan portfolio such as school financing, secured loan against property, machinery finance, and supply chain finance.
Profectus has a assets under management up to Rs 3,468 crore as of March 2025, with presence across seven states through a 28-branch network and over 800-member team, said Shachindra Nath, founder and managing director of Ugro and KV Srinivasan, chief executive of Profectus.