Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Standard ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors of Standard Capital Markets Limited, at its meeting held on April 30, 2025, approved the issuance of Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating up to INR 900 Crores. The NCDs will have a face value of INR 1,00,000 each and are structured in five series (Series I to V), with individual sizes of INR 250 Cr, INR 200 Cr, INR 130 Cr, INR 170 Cr, and INR 150 Cr respectively. Each series carries a 10% internal rate of return (IRR) payable as a bullet interest payment at the end of the tenor, which ranges from 36 to 60 months, with maturities falling between May 30, 2028 and May 30, 2030. The NCDs will be secured by way of hypothecation/pledge of the company's book receivables in favour of the Debenture Trustee, and will not be listed on any stock exchange.
This is a debt-raising move, not an equity dilution, so existing shareholders' ownership is not affected. However, the company is taking on significant leverage of up to INR 900 Crores backed by its receivables, which increases financial obligations and dependence on recovery of those receivables. The market reaction is likely to be neutral to mildly cautious, as the NCDs are unlisted and provide no direct benefit to retail shareholders.