NBFC Stock Standard Capital Okays Fundraising Plan After 2,575% Rally In 6 Months

Standard Capital Markets has informed the stock market that its Board of Directors met on February 27 in which the plan to raise funds through equity shares or convertible securities has been approved. Standard Capital Markets Limited is working on a strategy to raise funds through preferential issue, rights issue or other means. The company is working on a plan to raise funds by talking to many institutions.

The Board of Directors have "Considered and discussed the purpose of raising funds issuance of one or more instruments including equity shares/convertible securities either by way of Preferential Issue/Rights Issue/or any other mode. As part of our strategic financial planning, the company has actively engaged with various institutions to explore and facilitate the mode of such issuance," said Standard Capital Markets in a regulatory filing.

The authorised capital of Standard Capital Advisors Limited will be Rs 5 crore divided into 50 lakh equity shares of Rs. 10 face value. This new company of Standard Capital will do the work of merchant banking.

Shares of Standard Capital Markets Limited, with a market cap of around Rs 496 crore, have a 52-week high of Rs 3.52 and a 52-week low of Rs 1.15. Shares of Standard Capital Market have given a return of eight per cent to investors in 5 days.

In the last one month, shares of Standard Capital Market have seen a rise of 13 per cent from the level of Rs 2.86. Shares of Standard Capital Market were at the level of 12 paise on August 28, 2023 from where investors have got a return of 2708 percent. Over the past year, the stock has produced incredible multibagger returns of 2,192.86% and 2,575.00% over the last half-year. In 2024, the scrip climbed 17.58% year to date (YTD).

Incorporated in 1987, Standard Capital Markets Ltd is in the business of non-banking financial activities. The company provides a range of financial services, including secured and unsecured loans to individuals and MSMEs; dealing in securities/shares of companies, bonds and units investment in stock markets.