UGRO Capital jumps on securing patent for proprietary credit scoring model
Ugro Capital is currently trading at Rs. 249.55, up by 3.10 points or 1.26% from its previous closing of Rs. 246.45 on the BSE.
The scrip opened at Rs. 247.05 and has touched a high and low of Rs. 257.30 and Rs. 246.70 respectively. So far 4989 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 314.85 on 03-May-2024 and a 52 week low of Rs. 213.15 on 27-Mar-2024.
Last one week high and low of the scrip stood at Rs. 257.30 and Rs. 239.80 respectively. The current market cap of the company is Rs. 2325.40 crore.
The promoters holding in the company stood at 2.23%, while Institutions and Non-Institutions held 23.19% and 74.58% respectively.
UGRO Capital has received a patent for its proprietary credit scoring model, GRO Score. Officially titled ‘Method and System for Modelling Credit Scorecards,’ this patent underscores UGRO Capital’s pivotal role in reimagining credit evaluation for a highly diverse and underserved borrower base.
MSMEs contribute nearly one-third of India’s GDP yet face significant credit access challenges due to traditional lenders’ dependency on collateral and income-based assessments. UGRO Capital addresses this issue with GRO Score, a cutting-edge credit evaluation model leveraging alternate data, such as repayment histories, banking transactions, and GST records, to provide a comprehensive assessment of borrowers without formal income documentation.
Now in its third iteration, GRO Score 3.0 integrates advanced statistical algorithms to evaluate creditworthiness with unmatched precision. To date, the model has assessed over 1.7 lakh loan applications, analyzing over 5.6 lakh bureau records, 2.3 lakh bank statements, and 80,000 GST reports, unlocking vital capital for MSMEs across India.
UGRO Capital is a BSE listed, small business lending fintech platform.
