Shachindra Nath, Vice Chairman & Managing Director of UGro Capital invested the entire bonus amount worth Rs 14 million approx (net of taxes) purchasing 46300 shares of the company from the secondary market.
Demonstrating his indomitable faith in UGRO Capital’s potential, he purchased company’s equity shares from the secondary market at the prevailing market price of Rs 302/-.
“By reinvesting my entire bonus back into acquiring a stake in the Company, I want to ensure that our journey towards these goals continues unabated, and our objectives remain within our grasp. This is not just a financial investment, but an emotional and strategic one, reinforcing my dedication to our shared success,” Shachindra Nath said.
I believe in the work we are doing, the people who are making it happen, and the difference we will be making to millions of small businesses. I am as committed today as I was when I started this journey, and I look forward to seeing where we can go together, he added.
It is to be noted that the Board of Directors had, recently approved a bonus of INR 14 million approx. (net of taxes) for Shachindra Nath in recognition of his contribution towards the Company’s performance.
Announcing his decision, Nath said our aspiration is that we establish UGRO as India’s leading small business financial institution. Our goal is to serve more than 1 million customers and capture at least 1% of the market share in the next few years.
