Penny stock below ₹1 jumps after allotment of NCDs worth ₹170 crore
Penny stock below ₹ 1: Shares of Standard Capital, a micro-cap NBFC stock, gained over 2% in trade on Thursday, May 15, following the announcement of ₹ 170 crore fundraise via the allotment of non-convertible debentures (NCDs).
The company's board at their meeting held on Wednesday, May 14, considered and approved the allotment of 17,000 unrated, unlisted, secured NCDs of Series IV at an issue price of ₹ 1,00,000/- each, aggregating to ₹ 170 crore.
"... we wish to inform you that the Board of Directors of the company by circulation held today, i.e. Wednesday, May 14, 2025, has inter-alia, considered and approved the allotment of 17000 unrated, unlisted, secured NCDs of Series IV of face value of ₹ 1,00,000/- each at an issue price of ₹ 1,00,000/- each aggregating to INR 170,00,00,000 (Indian Rupees One Hundred Seventy Crores Only) on Private Placement basis in terms of Private placement cum application letter," Standard Capital said in a filing to the exchanges.
We further inform you that with this allotment, the issuance of NCDs under Series III has been completed, the company added.
Earlier this week, the company informed that its board had approved the allotment of 13,000 NCDs of Series III at an issue price of ₹ 1,00,000 aggregating to ₹ 130 crore.
Penny stock Standard Capital Markets, having a market capitalisation of over ₹ 65 crore, opened Thursday's trading session at ₹ 0.40 apiece, which was also the day's high. At this level, Standard Capital Markets stock was 2.56% higher than its previous closing price of ₹ 0.39% apiece.
The NBCF penny stock's 52-week high stands at ₹ 1.77, touched in July 2024, while its 52-week low is at ₹ 0.37, hit on May 7, 2025.
Data available on BSE shows that Standard Capital stock has rallied 900% in the last five years, giving multibagger gains to investors.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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