Shares of small-cap non-banking financial company (NBFC) UGRO Capital surged over 5% in intra-day trading on Monday as the market anticipates a pivotal board meeting scheduled for September 24. Discussion on Non-Convertible DebenturesDuring the upcoming meeting, the board is expected to deliberate on potential fundraising strategies, including the issuance of Non-Convertible Debentures (NCDs) through both private placements and public offerings. The specific amount to be raised has yet to be disclosed.

As per the company's filing on the exchange, “In furtherance to our previous intimations submitted on September 17, 2024 and September 18, 2024 regarding the meeting of Investment and Borrowing Committee of the Board of Directors (“Committee”) scheduled to be held on Monday, September 23, 2024, to consider and approve raising of funds by way of issuance of Non-Convertible Debentures through private placement basis and through public issue, we hereby notify that the meeting has been postponed to Tuesday, September 24, 2024 for the same purpose due to inevitable reasons." UGRO Capital Share Price TargetAdding to the positive momentum, Choice Broking has issued an "outperform" rating for UGRO Capital, setting a target price of Rs 345, which suggests a potential upside of 35%. InCred Capital has also recommended the stock with an "add" rating, estimating a target price of Rs 350, reflecting an almost 37% potential gain.

On Monday, the shares of UGRO Capital closed at Rs 263.05, 2.73 per cent up from the previous day closing. The 52 week high and low of the share is Rs 314.85 and Rs 213.15 respectively.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)