The Board of Director of the company by circular held today approved the Redemption of NCD
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Standard Capital Markets Ltd's Board has approved the redemption of 23,202 Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, aggregating to about ₹23.20 crore, along with accrued interest. This is the final tranche of NCDs originally issued on October 24, 2024, totaling ₹500 crore. Upon completion of this redemption (within five working days), the entire ₹500 crore NCD issuance will stand fully redeemed with no amount outstanding.
This is positive for the company as it fully clears its ₹500 crore debt obligation, reducing future interest outflows and improving the debt profile. However, it involves a significant cash outflow of ₹23.20 crore plus interest, and since these are unlisted NCDs, there is no direct impact on equity shareholders or stock price.