Standard Capital Markets, an NBFC, recently saw its stock hit the upper circuit limit at ₹1.13 in the Thursday morning session after unveiling a major fundraising initiative. To raise ₹70 crore through private placement, the company’s board has approved the issuance of 7,000 secured, unlisted, and unrated Non-Convertible Debentures (NCDs) with a face value and issue price of ₹1,00,000. This decision was formalized in a board meeting held on October 30, 2024, from 2:45 P.M. to 3:25 P.M., where the allotment of these NCDs was approved.
The recent move is part of a broader funding strategy announced in October to issue up to 50,000 secured, unlisted, unrated, redeemable NCDs, with a cumulative face value of ₹500 crore, in one or more tranches. Standard Capital aims to channel these funds into India’s expanding renewable energy sector and the electric vehicle (EV) industry. By supporting projects that facilitate solar installations and clean energy infrastructure, the company aligns itself with India’s vision of reaching 500 GW in renewable energy capacity by 2030. This shift is crucial, given India’s ongoing efforts to reduce carbon emissions from the transportation sector, which accounts for 14% of its total emissions.
Through its financial backing, Standard Capital is set to play a key role in fostering the growth of India’s EV and renewable energy markets, aiding the country in its clean energy mission and reinforcing its commitment to sustainable development.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Please consult a financial advisor before making any investment decisions. Stock market investments are subject to market risks.
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