Multibagger penny stock under Rs 5; Board approved the allotment of 6,000 unrated, unlisted, secured NCDs worth Rs 60,00,00,000
From Rs 0.06 to Rs 1.05 per share, the stock gave multibagger returns of 1,650 per cent in 3 years.
Today, the shares of Standard Capital Markets Ltd gained 4.5 per cent to an intraday high of Rs 1.17 per share from its previous closing of Rs 1.12 per share. The stock’s 52-week high is Rs 3.52 and its 52-week low is Rs 0.97.
Standard Capital Markets Limited informed that the Board of Directors of the Company in its meeting held on November 12, 2024, commenced at 4:30 P.M. and concluded at 05:30 P.M., has inter alia, approved the allotment of 6,000 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 60,00,00,000 on Private Placement basis in terms of Private placement cum application letter.
Earlier to the above allotment, the Board of Directors of the company approved the allotment of 7,000 unrated, unlisted, secured NCDs, of the face value of Rs 1,00,000 each at an issue price of Rs 1,00,000 each aggregating to Rs 70,00,00,000 on Private Placement basis in terms of Private placement cum application letter.
Furthermore, the company has taken a significant stride in modernizing Indian education by introducing a zero-cost EMI scheme for interactive flat panels (IFPs). This initiative empowers schools and educational institutions to seamlessly integrate advanced technology into their classrooms without incurring upfront costs. By replacing traditional chalkboards with IFPs, schools can not only reduce their reliance on consumables but also create a healthier and more engaging learning environment for students. This move towards digital learning aligns perfectly with India's growing online education landscape, bolstered by increased internet accessibility and government support. Standard Capital's investment in this venture not only benefits the company financially but also contributes to a positive social impact. By providing affordable financial solutions, the firm enables schools to access cutting-edge technology, thereby enhancing the learning experience for both students and teachers.
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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 1.05 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.