Penny stock below Re 1: Standard Capital Markets announced on Friday, May 2, that it will raise ₹50 crore by issuing non-convertible debentures (NCDs) on a private placement basis. The small-cap non-banking financial company (NBFC) considered and approved the allotment of 5000 unrated, unlisted, secured NCDs, with a face value of Rs. 1,00,000 each, at an issue price of Rs. 1,00,000 each, aggregating to ₹50 crore on a private placement basis.

“In furtherance to our intimation letter dated April 30, 2025, relating to raising funds by the issue of NCDs on private placement basis, we wish to inform you that the Board of Directors of the company by circulation held today, i.e. Friday, May 02, 2025, has inter-alia, considered and approved the allotment of 5,000 unrated, unlisted, secured NCDs, of face value of Rs. 1,00,000 each at an issue price of ₹1,00,000 each aggregating to ₹50,00,00,000 on private placement basis in terms of private placement cum application letter,” said Standard Capital Markets in a regulatory filing to the stock exchanges.