Monday, May 20, 2024

Standard Capital Markets Ltd. Incorporates Subsidiary for Insurance Broking

Standard Capital Markets Ltd., a leading player in the financial services sector, has announced that it has incorporated a subsidiary to act as a Direct broker under the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018.

Recently, the company’s board approved the declaration of special dividend at the rate of 1%. The board also approved the preferential Issue of 26,00,00,000 Equity Shares of face value of Re. 1/- each towards the conversion of outstanding unsecured loans, for an aggregate loan amount of Rs.70,72,00,000/- at an issue price of Rs. 2.72/- each, as per the applicable laws, subject to the approval of members of the Company. Earlier, the company effected a stock split in 10:1 ratio (subdivision of 1 equity share of FV Rs. 10 into 10 shares with FV of Re. 1 each) and bonus issue in 2:1 ratio (two bonus share of FV Re.1 for every existing equity share of FV Re. 1 held).

Standard Capital Markets Limited is a leading player in the financial services sector. Embracing the uniqueness of each client, the company consistently strives to deliver personalized, professional services. It upholds an unwavering commitment to every client while adhering rigorously to the best professional norms and practices, exuding dynamism in every interaction. The company offers a diverse range of Personal Loans, ensuring not only competitiveness but also flexible repayment terms. With their support, clients can confidently pursue their goals without confusion or worry. For businesses seeking financial support, the company extends Business Loans with flexible overdraft options.

The company empowers clients to stay ahead of the competition by providing prompt financial assistance, fostering business growth with ease. The Flexi Overdraft feature simplifies cash flow management, allowing easy access to funds as needed, and eliminating the complexities of traditional loan applications.

Upcoming products from Standard Capital Markets Limited include Fee Financing and Gold Loans. The Fee Financing offerings cater to aspiring students and parents, simplifying educational expenses. The tech-driven platform enables swift and effortless applications for fee financing, ensuring accessible and affordable education for all. Simplified Gold Loans offered by the company provide an instant solution for urgent financial requirements, leveraging gold holdings without delays or excessive paperwork.

The company is dedicated to nurturing a culture of learning and progress, reflected in its offerings of Educational Loans. It is an upcoming product aimed at supporting aspiring learners in accessing quality education. With a focus on flexible repayment options, the company alleviates financial constraints for students, enabling them to pursue academic aspirations. Its financial assistance endeavors ensure academic pursuits are within reach, offering competitive interest rates and streamlined online application processes.

In line with its commitment to empowerment, the company is working towards extending Agriculture Loans (upcoming product), recognizing farmers as the cornerstone of the Agriculture Loan offering.

Timely financial assistance for various farming activities, including crop cultivation, equipment purchases, and farm modernization, among others, underscores the company’s dedication. The advanced loaning platform will ensure transparency and minimal formalities, facilitating instant access to funds for all contributors to India’s agrarian sector. The securities of the company are listed on BSE (BSE: 511700).

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