Multibagger Penny Stock Under Rs 2: Company approved the allotment of 1500 unrated, unlisted, secured NCDs
From Rs 0.06 to Rs 1.04 per share, the stock gave multibagger returns of 1,650 per cent in 3 years.
On Friday, the shares of Standard Capital Markets Ltd gained 2.94 per cent to Rs 1.05 per share from its previous closing of Rs 1.02 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 0.95. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.
Standard Capital Markets Limited, a prominent Non-Banking Financial Company (NBFC), informed that the Board of Directors of the Company in its meeting held on December 20, 2024 commenced at 12:30 P.M. and Concluded at 01:50 P.M., has inter alia, approved the allotment of 1,500 unrated, unlisted, secured NCDs, of face value of Rs 1,00,000 each at an issue price of Rs 1,00,000 each aggregating to Rs 15,00,00,000 (Indian Rupees Fifteen Crores Only) on Private Placement basis in terms of Private placement cum application letter.
Earlier, the company successfully raised Rs 5 billion through the issuance of Non-Convertible Debentures (NCDs). This significant capital infusion will fuel the company's growth aspirations by strengthening its financial position and providing the necessary resources for expansion. The company plans to allocate Rs 1.3 billion towards optimizing existing operations, enhancing efficiency, and increasing capacity. The remaining funds will be utilized to explore new market opportunities, address working capital requirements, and reduce existing liabilities, thereby positioning the company for sustainable growth and long-term success.
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Established in 1987, Standard Capital Markets Ltd is a NBFC company registered with the RBI. They offer a variety of financial services including advisory (negotiations, project identification etc.), arbitration & mediation, due diligence, commercial contract services (drafting agreements etc.), litigation assistance, and even licensing (company incorporation, import/export licenses etc.). With a strong track record, the company established a wholly-owned subsidiary, Standard Capital Advisors Limited, to expand its reach into merchant banking activities.
The company has a market cap of Rs 180 crore and has delivered good profit growth of 173 per cent CAGR over the last 5 years. The company's shares undergo a 2:1 bonus share and stock split from Rs 10 to Rs 1 on the ex-date i.e., December 29, 2023. According to the shareholding pattern, promoters of the company only own a 14.86 per cent stake while an 85.14 per cent stake is owned by the public as of September 2024. From Rs 0.06 to Rs 1.04 per share, the stock gave multibagger returns of 1,650 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.