UGRO Capital (NSE:UGROCAP, BOM:511742) has raised 500 million Indian rupees through the allotment of non-convertible debentures on a private placement basis, according to a Thursday filing to the Indian stock exchanges.

The company allotted 5,000 unsecured, rated, subordinated, listed, taxable, redeemable, non-convertible debentures denominated in Indian rupees of 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 25, 2031. They are proposed to be listed on the BSE.

The company's shares were down over 1% in recent trade.