Earlier, the non-banking financial company NBFC announced the additional deployment of Rs 209 crore to enhance its operations.
Standard Capital Markets has informed exchanges about the partial redemption of its secured non-convertible debentures (NCDs). The company has informed exchange that it has redeemed 656 NBCs worth Rs 10,00,000 each, for an aggregate amount of Rs 65.60 crore. The balance post redemption of 10 per cent secured NCDs shall be 1992, amounting to Rs 199.20 crore.
“The Company has redeemed its Secured, Unlisted, Unrated, Redeemable Non-convertible 656 (Six Hundred Fifty Six) Non–Convertible Debentures (NCD), having face value of Rs 10,00,000/- each, aggregating to Rs 65,60,00,000/-,” the company said in an exchange filing.
Following the redemption, 1,992 NCDs valued at Rs 199.20 crore remain outstanding.
Earlier, the non-banking financial company NBFC announced the additional deployment of Rs 209 crore to enhance its operations.
“This additional investment is a key part of the company’s strategic initiatives, following the successful issuance of ₹5 billion in Non-Convertible Debentures (NCDs). Having raised and allocated ₹5 billion, Standard Capital Markets is leveraging these funds to further strengthen its operational infrastructure, thereby positioning itself for increased returns in the upcoming quarter and enhancing its overall profitability,” the company had said in a regulatory filing on March 4.
The company stressed that it will deploy the capital into three focus areas, including enhancement of operational efficiency, capacity expansion and growth and profitability.
“A portion of the funds has been allocated to scaling up existing operations, ensuring the company is well-equipped to handle future growth and market demand. With an increased focus on strategic investments, this deployment aims to foster long-term growth while maximizing profitability for the benefit of shareholders and stakeholders alike,” it said.
