Meanwhile, equity Benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after two days of decline amid firm trends in global markets and buying in IT stocks.
Mumbai: Non-banking financial company (NBFC ) Standard Capital Markets has informed exchanges that its board has approved the allotment of 72.45 crore shares on conversion of outstanding loans to non-promoters. The company allocated 72,45,74,640 equity shares with the face value of Re 1 apiece for an outstanding loan amount of Rs 94,19,47,032 at an issue price of Rs 1.30.
The shares have been allotted to Flash Merchandise Private Limited and YUCCA Merchants Private Limited (both non-promoter groups). As per the information available, 38,46,15,384 shares were allotted to Flash Merchandise and the remaining 33,99,59,256 to YUCCA Merchants.
“We hereby inform you that the Preferential Issue Committee of the Board of Directors of Standard Capital Markets Limited today i.e. May 19, 2025 has, inter alia, considered and approved the allotment of 72,45,74,640 Equity Shares face value of Re 1/- each to the person belonging to Non-Promoter, towards the conversion of outstanding loans, for an aggregate loan amount of ₹94,19,47,032/- at an issue price of ₹1.30/- each,” according to the company’s BSE filing on Monday.
Meanwhile, equity Benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after two days of decline amid firm trends in global markets and buying in IT stocks.
The 30-share BSE benchmark gauge Sensex climbed 191 points to 82,250.42 in early trade after a positive beginning.
The NSE Nifty went up by 64.9 points to 25,010.35.
From the Sensex firms, Tata Steel, Infosys, Tech Mahindra, ITC, Tata Consultancy Services, Axis Bank, IndusInd Bank and Asian Paints were among the biggest gainers.
Power Grid, HDFC Bank, Bajaj Finance, Reliance Industries, Titan and Nestle were among the laggards.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng were trading in the positive territory.
