Listed MSME lending fintech platform U GRO Capital today announced the appointment of Mr. Satyananda Mishra as the Non-Executive Chairman of the company.
With over 40 years of extensive experience, Mr. Mishra was previously the Chief Information Commissioner of India (December, 2010 to September, 2013). He was the Chairman and Non-Executive Independent Director of Multi Commodity Exchange of India Limited from November, 2013 to November, 2016.
He was also the Director of Small Industries Development Bank of India till the year 2018 and was the Commissioner of Small Industries Development in the Government of India. He also held the post of former secretary for various government departments like Department of Personnel and Training (DOPT), Public Works Department (PWD) and Cultural Department (Government of Madhya Pradesh).
By March 31, 2022, the AUM of U GRO Capital has increased to Rs. 3,000 crore and its branch network was 91. In the fourth quarter of FY 2021-22, the company’s net profit rose 292 per cent to Rs. 6.08 crore and the distribution was Rs. 963 crore. Its subscriber base grew to over 20,000.
On this appointment, Mr. Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital, said, His supervisory and regulatory background and extensive experience in the lending industry will help the company meet the company’s aspirations of becoming a reliable and operational MSME lending platform for all stakeholders. “
Mr. Satyananda Mishra, Non-Executive Chairman, U GRO Capital, said, In a short span of four years, U GRO has made a name for itself in the financial world. I look forward to a brighter future for this company. “
To maintain this momentum, the company has to raise Rs. Vision 2025 is set to achieve 20,000 crore AUM and serve 1 million MSME customers.
