Standard Capital Markets’ shares remained locked at the upper circuit limit of ₹1.13 during Thursday’s opening session, following the announcement of a new fundraising strategy. The company is set to raise ₹70 crore through the private placement of 7,000 unrated, unlisted, secured Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, issued at the same price.
This decision was made during a Board meeting held on October 30, 2024. In a previous meeting on October 24, the Board also approved the issuance of up to 50,000 NCDs on a private placement basis, potentially raising up to ₹500 crore in one or more tranches.
The funds will support Standard Capital’s initiative to finance electric vehicle (EV) mobility solutions and renewable energy projects across India. The company aims to provide essential financial assistance for projects involving solar panel installations and other renewable energy systems, aligning with India’s expanding clean energy objectives. As of 2023, India has installed over 68 GW of solar power and is striving to achieve 500 GW of renewable energy capacity by 2030.
Recognizing the critical role of the EV sector in reducing transportation emissions—currently accounting for 14% of the nation’s total carbon emissions—Standard Capital is committed to supporting businesses in the electric vehicle mobility sector.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a financial advisor before making investment decisions.
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