A man from Banaras is an ideal example for individuals longing to make it big in corporate India. Here’s the amazing story of Shachindra Nath who formed U GRO Capital to solve the credit problem of the SME sector.
India has always been a country of small towns and villages; even today, the world’s second most populous country has only a few metro cities that can be counted on one hand.
A large portion of India’s population lacks exposure to shine in the corporate world, limiting their opportunities despite possessing abundant talent. Stories of people rising from small towns and villages to positions of power in the corporate world provide hope to millions of young people in non-metro India. The story of Shachindra Nath of U GRO Capital is a great example for those who want to make it big in corporate India.
Shachindra is from the historic city of Banaras, which is one of the oldest but still a small town in India.He earned a University Level Rank in his LLB from the prestigious BHU (Banaras Hindu University) and began working in the carpet industry.
His ability to quickly learn new skills and apply them in a professional manner aided him in quickly ascending the corporate ladder.
During his career as an employee, he worked for a number of companies at various managerial levels before becoming the Group CEO of Religare Enterprise Limited.
Shachindra was in charge of extremely important responsibilities for his companies, which included major milestones such as the establishment of Insurance Companies, Asset Management, NBFCs, and the facilitation of several JVs.
Shachindra finally decided to become an entrepreneur in 2015, utilising his valuable knowledge and experience to solve India’s SME credit problem.
Rather than starting a company from scratch, he used his knowledge and skills to buyout ‘Chokhani Securities Limited’ from a total of five business on the platter.
Based on his personal experience, Shachindra concluded that the success of financial institutions lies in platforms that are institutionally capitalised and governed independently. Following the acquisition of Chokhani Securities, Shachindra rebranded the company to U GRO Capital, with a new management team and business model, with the goal of solving the credit problem for India’s SME sector.
Shachindra has 30 years of experience in the industry, which he translated into brand value for his new project. The company then quickly raised a significant capital of INR 9500 million.
He is dedicated to building an organisation based on knowledge, technology, and flawless governance through U GRO Capital.
U GRO Capital intends to address the credit problem of India’s SME sector, which contributes significantly to the country’s GDP.
Shachindra Nath’s first-hand experience in rural and semi-urban areas helped him realise that the credit gap that small enterprises face is not being addressed effectively
Shachindra says, “With U GRO Capital, I envisioned creating a platform with a heart and soul dedicated to resolving India’s credit crisis. U GRO Capital is primarily interested in the Healthcare, Education, Chemicals, Food Processing/FMCG, Printing & Packaging, Electrical Equipment Components, Light Engineering, and Micro SME segments.”