India's Ugro Capital gains after co approves Profectus Capital acquisition

Ugro Capital

18/06/2025 05:23

** Shares of Ugro Capital Ltd UGRO.NS rise as much as 7.9% to 185 rupees
** Co approves acquisition of Profectus Capital, an NBFC, for purchase consideration of 13.99 billion rupees ($162.2 million)
** Co expects deal to generate 1.15 billion rupees in cost savings and incremental profitability of 1.50 billion rupees
** More than 1.2 mln shares traded, 3.3x their 30-day moving avg; busiest day yet since March 19
** UGRO last up 2.9%, cutting YTD losses to 24.2%

($1 = 86.2775 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))