Penny Stock Under Rs 2/Share Okays Allotment of 6000 NCDs Worth Rs 60 Cr

On Thursday, shares of NBFC company Standard Capital Ltd jumped 7.5 per cent to an intraday high of Rs 1.03 per share today from its previous closing of Rs 0.95 per share. The stock's 52-week high is Rs 3.52 and its 52-week low is Rs 0.95. The company has a market cap of around Rs 173 crore with multibagger returns of around 300 per cent in 1 year.

Recently the allocation of 6000 unrated, unlisted, secured NCDs with face values of Rs. 1,00,000 each at an issue price of Rs. 1,00,000 each, totalling Rs 60 Cr, was authorised by the Board, and the shares of Standard Capital Markets anticipated to be the focus of attention in the next sessions.

"We wish to inform that the Board of Directors of the Company in its meeting held on November 12, 2024 commenced at 4:30 P.M. and Concluded at 05:30 P.M., has inter alia, approved the allotment of 6000 unrated, unlisted, secured NCDs, of face value of Rs. 1,00,000/- each at an issue price of Rs. 1,00,000/- each aggregating to INR 60,00,00,000 (Indian Rupees Sixty Crores Only) on Private Placement basis in terms of Private placement," said the company in a stock exchange filing.

"It is hereby informed that a meeting of the Board of Directors of Standard Capital Markets Limited ('the Company') is scheduled to be held on Thursday, November 14, 2024 at the registered office of the Company at G-17, Krishna Apra, Business Square, Netaji Subhash Place, New Delhi- 110034, inter-alia, to consider, approve, and take on record the Standalone and Consolidated Unaudited Financial Results of the Company for the Quarter and half year ended 30th September, 2024; and any other matter with permission of Chairperson," said the company in a regulatory filing.

At its meeting on October 30, 2024, the company's Board of Directors authorised the allocation of 7000 unrated, unlisted, secured NCDs with a face value of Rs. 1,00,000 each at an issue price of Rs. 1,00,000 each, totalling Rs 70,00,00,000 on a private placement basis.

The issuance of up to 50,000 Secured, Unlisted, Unrated, Redeemable Non-convertible Debentures (NCDs) with a face value of Rs 1,00,000 each, totalling Rs 500,00,00,000/- in one or more tranches on a Private Placement basis, was approved by the Standard Capital Markets Limited Board of Directors at its meeting on October 24, 2024.

A range of financial services is provided by Standard Capital Markets Limited, an Indian non-banking financial company (NBFC). Standard Capital Markets is registered with the Reserve Bank of India (RBI) and was established in 1987. New Delhi is home to its registered office.