U Gro Capital appoints Navin Puri as Independent Director

Our Bureau Bengaluru | Updated on August 11, 2019 Published on August 11, 2019

BSE listed U Gro Capital, a tech-enabled small business lending company, has appointed Navin Puri, a financial services veteran as an Independent Director on its Board.

Puri was formerly the country head of branch banking at HDFC Bank and has three decades experience in the financial services industry working with HDFC Bank and ANZ Grindlays Bank.

U Gro Capital is backed by multiple marquee investors including NewQuest, PAG, ADV Partners and Samena Capital.

Shachindra Nath, CMD, U Gro said: "He is a respected figure in the industry and through his strategic insights resulting from a long and successful career in the Indian financial sector, we are confident that this will be a fruitful addition that will provide great long-term value to U GRO.”

Recently, U GRO was assigned a long-term rating of ‘A’ (denoting Low Credit Risk) with a stable outlook and a short-term rating of ‘A1’ by Acuité within seven months of starting its commercial operations, post change of control in July 2018.

Published on August 11, 2019
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