Ugro Capital entered into a co-lending partnership with SBI as the first co-lending partner for its Sanjeevani program to provide credit to the micro, small and medium enterprises (MSME).

Through this collaboration, SBI and Ugro aim to disburse upto Rs 500 crore by March 2022.

This arrangement will leverage SBI’s prowess on the liability side and Ugro Capital’s origination and distinctive underwriting engine capabilities on the assets side.

Following this, the stock price, which had closed yesterday at Rs.179.15, opened today at Rs.186.35 and went on to hit the 10% UC of the day at Rs.197.05. Its 52-week high is at Rs.202.