Standard Capital Markets Deploys Additional Rs 0.71 Billion Towards Its Operations

On Monday, shares of NBFC company Standard Capital Ltd jumped 4.35 per cent to an intraday high of Rs 0.96 per share today from its previous closing of Rs 0.92 per share. The stock's 52-week high is Rs 3.52 and its 52-week low is Rs 0.81. The company has a market cap of around Rs 158.86 crore.

In relation to its previous Rs 1.3 billion investment in its operations, Standard Capital Markets Limited, a major participant in the Non-Banking Financial Company (NBFC) industry, is happy to announce an additional Rs 0.71 billion. The company's strategic goals include this investment, which follows the successful issuing of Rs 5 billion in non-convertible debentures (NCDs). The company has successfully funded and set aside Rs 2.01 billion to improve its operational infrastructure even more.

"The focus of this deployment is on enhancing operational efficiency, scaling up capacity, and supporting the company's overall growth trajectory," said Standard Capital Markets in a stock exchange filing.

"The successful issuance of these NCDs reaffirms strong investor confidence in our business model and growth prospects. Deploying INR 0.71 billion towards our operations aligns with our commitment to driving operational excellence and fortifying our market position. Our focus remains on generating long-term value for our shareholders and customers," the management team of Standard Capital Markets said.

The remaining funds from the NCD will be used for a number of strategic projects, such as working capital needs, growth activities, and the reduction of current liabilities, in addition to operational improvements.

Standard Capital Markets said these strategic investments will position the company for sustainable growth, innovation, and enhanced shareholder value, boosting its focus on long-term value creation for both its customers and stakeholders.

The firm will be well-positioned for long-term expansion, innovation, and higher value for shareholders thanks to this capital, according to Standard Capital Markets Limited. The company intends to use the remaining proceeds from this offering for a number of strategic goals, such as working capital requirements, expansion, and debt reduction.

Meanwhile, the allocation of 5600 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 56 Cr, was approved by the company's Board of Directors at its meeting on January 15, 2025.

The allocation of 1500 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 15 Cr, was previously authorised by the company's Board of Directors at its meeting on December 20, 2024.

On Friday, the shares of Standard Capital Markets were locked in a 5% upper circuit limit at Rs 0.92 per share with a market cap of Rs 159.16 Cr.