Shares of Standard Capital Markets Ltd are in focus during Monday’s trading session. The stock jumped by as much as 12% today, touching an intraday high of ₹0.47.
This is a rise from its previous closing price of ₹0.42. The reason behind this surge is a recent company announcement about fundraising.
Details of the Announcement
On Friday, May 2, the company announced plans to raise ₹50 crore by issuing non-convertible debentures (NCDs) through a private placement.
The small-cap non-banking financial company (NBFC) approved the issue and allotment of 5,000 secured, unrated, and unlisted NCDs.
Each NCD has a face value and issue price of ₹1,00,000, adding up to a total of ₹50 crore.
Last month, the company’s board also decided to enter the alternative investment fund (AIF) business with an initial ₹50 crore investment.
Its wholly-owned subsidiary, Standard Capital Advisors, will act as the investment manager for the AIF, which will manage the fund’s assets and investments.
Share Performance
This penny stock has dropped 15% in the past five days, 15% in the past month, 58% since the beginning of this year, and 78% over the past year.
The NBFC has a market capitalization of ₹72.66 crore. Its 52-week high is ₹1.95, and its 52-week low is ₹0.39.
