Standard Capital Approves Rs 264 Cr Fundraise Via NCDs

On Tuesday, the board of directors of Standard Capital, a BSE-listed non-banking financial company (NBFC), approved a plan to raise Rs 264 crore via Non-Convertible Debentures (NCDs) through private placement. Each NCD is priced at Rs 10,00,000. The company announced in a regulatory filing that the board approved the allotment of 2,648 unrated, unlisted, secured NCDs with a face value and issue price of Rs 10,00,000 each, totaling Rs 264.8 crore.

Following this announcement, Standard Capital Markets Ltd saw its share price increase by 1.27%, reaching Rs 1.59 per share from the previous closing price of Rs 1.57. Over the past 52 weeks, the stock has hit a high of Rs 3.52 and a low of Rs 1.15. Remarkably, the share has delivered multibagger returns of 1644.44% over the last two years and surged by 3040% in the last three years, greatly benefiting its investors.

Earlier this month, Standard Capital Markets Ltd (SCML) announced a strategic partnership with Paisalo Digital. This collaboration highlights SCML's commitment to innovative solutions aimed at bridging the financial gap and fostering economic growth in underserved regions. Through this investment, Paisalo Digital will be able to extend its reach and impact, offering essential financial services to more rural communities. The partnership will also see Paisalo Digital leveraging SCML's expertise in technology and innovation to enhance its digital platform, ensuring seamless and efficient service delivery. Additionally, the collaboration may lead to more targeted and competitive products, including flexible lending criteria for borrowers.

In May, SCML reported its financial results for the fourth quarter of FY2024. According to the exchange filing, the company's revenue from operations in Q4 FY2024 was Rs 10.69 crore, up from Rs 5.77 crore in the previous quarter and Rs 3.56 crore in Q4 of the previous financial year. For the entire FY2024, SCML's net profit soared to Rs 10.7 crore, a significant increase from Rs 2.22 crore in FY2023. As of March 31, 2024, the company's total assets stood at Rs 428.12 crore. In Q4 FY2024, the profit after tax was Rs 2.51 crore, compared to Rs 3.31 crore in the previous quarter and Rs 1.59 crore in Q4 of the previous financial year.

Founded in 1987, Standard Capital Markets Ltd engages in a variety of non-banking financial activities. The company offers secured and unsecured loans to individuals and micro, small, and medium enterprises (MSMEs). It also deals in securities, shares of companies, bonds, and units invested in the stock market. Through its diverse financial services, SCML continues to play a significant role in the financial sector, supporting economic growth and development