U GRO Capital launches operations in Chennai

Chennai: Non banking finance company (NBFC), U GRO Capital has announced the launch of its operations in Tamilnadu.

A release stated that opening their Chennai office is a part of U GRO Capital’s strategy to disburse loans of up to Rs 5 crore to small businesses operating in eight identified sectors in which the company aims to build deep credit and product expertise.

“Chennai has a huge SME hub especially in the healthcare, education and automobile component spaces which are our chosen sectors. We hope to make a positive impact by providing aspiring entrepreneurs of the state with our new-age products and solutions. We wish to partner with them on their growth journey,” said, executive chairman and MD, U GRO Capital, Shachindra Nath.

In the initial phase, U GRO Capital will have 9 branches in Ahmedabad, Delhi, Pune, Hyderabad, Chennai, Bangalore, Kolkata, Jaipur and Mumbai, which will overlap with large SME clusters, the release said.