Penny stock below Re 1: NBFC sets board meeting date to consider fundraise. Details here

Penny stock below Re 1: Non-banking finance company (NBFC) Standard Capital Markets is slated to meet later this week to consider a fundraise, the company informed exchanges over the weekend.

Standard Capital Markets Board Meeting Intimation

Standard Capital Markets intimated on Saturday, April 26, intimated the BSE about the meeting of the Board of Directors that will be held to consider the fundraising. It may also consider any other business-related activities in addition to the fundraising, the company said.

Standard Capital Markets, in its release, said that this Board Meeting will be held on April 30, 2025, with the permission of the Chairman in compliance with applicable provisions of the Securities and Exchange Board of India.

Standard Capital Markets: Other Developments

Standard Capital Markets, a few days back, had also announced its plans to explore international markets as part of a strategic expansion plan, subject to RBI approval.

As per the details, it is planning to explore foreign markets as part of a larger plan to increase the range of financial services it offers and fortify its position internationally. For the same RBI and other regulatory bodies must grant the expansion the required permissions and certifications.

Standard Capital Markets Limited, or SCML, is exploring methods to establish foreign subsidiaries and strategic alliances in significant global financial hubs as part of this endeavour, the company said.

Secured and unsecured lending, trade finance, and wealth management solutions for both individual and institutional clients will be the main focuses of the NBFC firm Standard Capital Markets Limited's planned worldwide endeavours.

SCML also plans investments in Technology and Compliance, it said. “SCML will upgrade its digital infrastructure and ensure compliance with international compliance standards in order to support cross-border operations,” the company told exchanges.

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