Penny stock below ₹1: Shares of Standard Capital, a micro-cap NBFC stock, gained over 2% in trade on Thursday, May 15, following the announcement of ₹170 crore fundraise via the allotment of non-convertible debentures (NCDs).
The company’s board at their meeting held on Wednesday, May 14, considered and approved the allotment of 17,000 unrated, unlisted, secured NCDs of Series IV at an issue price of ₹1,00,000/- each aggregating to ₹170 crore.
“… we wish to inform you that the Board of Directors of the company by circulation held today, i.e. Wednesday, May 14, 2025, has inter-alia, considered and approved the allotment of 17000 unrated, unlisted, secured NCDs of Series IV of face value of ₹1,00,000/- each at an issue price of ₹1,00,000/- each aggregating to INR 170,00,00,000 (Indian Rupees One Hundred Seventy Crores Only) on Private Placement basis in terms of Private placement cum application letter,” Standard Capital said in a filing to the exchanges.
