NBFC Standard Capital to allot 26 crore equity shares

The Board of Directors of Standard Capital has approved the allotment of 26 crore equity shares with a face value of Re 1 each. These shares are being issued at the rate of Rs 2.75 per share. 

This allotment is being given on the basis of converting the existing secured loan into equity which amounts to about Rs 71.50 crore. After this, the paid-up equity share capital of the company has become Rs 173 crore.
 
"Allotment of 26,00,00,000 Equity Shares of Face Value of Re.1/- each, towards conversion of outstanding unsecured loan, at an issue price of Rs. 2.75/- per Equity Share (including premium of Rs.1.75/- each), for an aggregate amount of Rs.71,50,00,000/- on a preferential basis," the company said in an exchange filing.