UGRO Capital (NSE:UGROCAP, BOM:511742) has raised 2 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis, according to a Monday filing to the Indian stock exchanges.

The company's approved allotment of 20,000 unsecured, rated, subordinated, listed, taxable, redeemable, non-convertible debentures denominated in Indian rupees each having face value of 100,000 rupees each.

The debentures carry a coupon rate of 11.65% per annum and are scheduled to mature on March 15, 2031.

The company's shares were down nearly 3% in recent trade.