Corporate Development     

Published: August 15, 2024
Updated: August 15, 2024

Standard Capital Markets Ltd.

Board approves allotment of NCDs, raises Rs. 264 crore

The board of directors of Standard Capital Markets Ltd. (BSE: 511700), a leading NBFC offering alternative financial services and promoting financial access and growth for all, has approved the allotment of 2648 unrated, unlisted, secured NCDs, of face value of Rs. 10 Lakh each at an issue price of Rs. 10 Lakh each aggregating to Rs. 264.80 crore on private placement basis in terms of Private placement cum application letter.

Recently, the company announced that SCML join hands with Paisalo Digital Limited, a pioneering financial services company dedicated to enhancing financial inclusion in rural India. This investment underscores SCML’s commitment to upgrade innovative solutions that bridge the financial gap and promote economic growth in underserved regions.

Mr. Ram Gopal Jindal, MD, Standard Capital Markets Limited, expressed his enthusiasm about the partnership, stating, “We are excited to collaborate with Paisalo Digital Limited in their mission to promote financial inclusion in rural India. This investment aligns with our commitment for financial inclusions that drive positive social and economic change. Together, we will work towards creating a more inclusive and prosperous future for all. This partnership marks a significant milestone in our journey to empower rural India through financial inclusion.”

Recently, the board gave a green signal to the proposal of fund raising. The board approved the issuance of secured, unlisted, unrated, redeemable non-convertible debentures (“NCDs”) aggregating up to an Rs. 401.50 Cr in one or more tranches on a private placement basis, in accordance with the provisions of Companies Act, 2013 and applicable regulations.

Standard Capital Markets Limited is a leading player in the financial services sector. Embracing the uniqueness of each client, the company consistently strives to deliver personalized, professional services. It upholds an unwavering commitment to every client while adhering rigorously to the best professional norms and practices, exuding dynamism in every interaction. The company offers a diverse range of personal loans, ensuring not only competitiveness but also flexible repayment terms. With their support, clients can confidently pursue their goals without confusion or worry. For businesses seeking financial support, the company extends business loans with flexible overdraft options.

The company is dedicated to nurturing a culture of learning and progress, reflected in its offerings of educational loans. It is an upcoming product aimed at supporting aspiring learners in accessing quality education. With a focus on flexible repayment options, the company alleviates financial constraints for students, enabling them to pursue academic aspirations. Its financial assistance endeavors ensure academic pursuits are within reach, offering competitive interest rates and streamlined online application processes.

In line with its commitment to empowerment, the company is working towards extending agriculture loans (upcoming product), recognizing farmers as the cornerstone of the agriculture loan offering. Timely financial assistance for various farming activities, including crop cultivation, equipment purchases, and farm modernization, among others, underscores the company’s dedication. The advanced loaning platform will ensure transparency and minimal formalities, facilitating instant access to funds for all contributors to India’s agrarian sector.