On Friday, December 20, Standard Capital Markets, a penny stock, announced through a filing on the Bombay Stock Exchange (BSE) that its board of directors has approved the issuance of non-convertible debentures (NCDs) on a private placement basis to raise ₹15 crore.
NCD Issuance Details
In the filing, the company revealed that the board had approved the allotment of 1,500 unrated, unlisted, secured NCDs, each with a face value of ₹1,00,000. The total value of the issuance stands at ₹15 crore.
Recent Fundraising Success
Earlier this week, on December 17, Standard Capital Markets had successfully raised ₹500 crore through the issuance of NCDs. This fundraising effort is aimed at strengthening the company’s capital structure and supporting future growth initiatives.
Out of the total ₹500 crore raised, about ₹130 crore has already been strategically deployed to enhance operational efficiency, expand capacity, and drive growth. The company plans to utilize the remaining proceeds for further expansion, working capital needs, and reducing existing liabilities.
Strategic Focus for Growth
The company emphasized that the successful issuance of these NCDs reflects the strong investor confidence in its business model and growth prospects. The management remains focused on enhancing operational excellence and strengthening its market position.
“We are committed to delivering long-term value for our shareholders and customers,” stated the management of Standard Capital Markets.
Stock Price Performance
The stock hit a 52-week high of ₹3.52 on February 27 but dropped to a 52-week low of ₹0.95 on December 17.
