Penny stock below Re 1: NBFC stock in focus after allotment of NCDs worth ₹130 crore

Penny stock below Re 1: Standard Capital Markets announced on Tuesday, May 13, that it will raise ₹130 crore by issuing non-convertible debentures (NCDs) on a private placement basis. The small-cap non-banking financial company (NBFC) considered and approved the allotment of 13,000 unrated, unlisted, secured NCDs with a face value of Rs. 1,00,000 each, at an issue price of Rs. 1,00,000 each, aggregating to ₹130 crore on a private placement basis.

Penny stock under Re 1: Standard Capital Markets Share Price Trend

On Tuesday, shares of Standard Capital Markets settled 8.70 per cent lower at Re 0.42 apiece on the BSE. The penny stock has nosedived 11 per cent in five days, 23 per cent in one month, 58 per cent year-to-date (YTD), and 78 per cent in one year. The NBFC commands a market cap of ₹72.66 crore.

The NBFC was conceived by the promoter CA. Narender K. Arora, Manohar Lal Vij, and Vijay Chaudhry. The company is managed by professionals with expertise and experience in finance and administration. It provides various financial services, including lending money to individuals and Small and Medium-Sized Enterprises (SMEs), with or without security, and dealing in securities/shares, bonds, and units invested in stock markets.

The NBFC was originally incorporated on February 19, 1987, in the name of "Standard Capital Markets Limited" under the Companies Act, 1956. The Company was listed on 29-03-1995 and is registered with the Reserve Bank of India (RBI) as NBFC vide Registration Number 14.02891 on March 21, 2003.