We wish to intimate you that the Company has release the press release titled "Standard Capital Markets Limited announces Redeemption of NCD
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Standard Capital Markets Limited has decided to redeem its outstanding Non-Convertible Debentures (NCDs) instead of accepting a proposed interest rate hike. The NCDs originally carried an interest rate of 10% per annum, but the subscriber recently requested an increase to 13% per annum. After internal evaluation, the company declined the rate revision and began the redemption process. Management stated the redemption will not impact ongoing operations, liquidity, or growth plans. The company mentioned it is exploring alternative capital raising through equity infusion to maintain its capital structure and cost of funds.
Shareholders may view this as a sign of financial discipline, as the company is avoiding a higher interest cost, but a possible equity infusion in the future could lead to share dilution. Overall, management projects stability with no adverse operational or liquidity impact from the redemption.