Standard Capital Markets, a NBFC company, has informed exchanges that its board of directors will meet on Tuesday, July 02, 2024, to discuss the plan for raising funds.
“Pursuant to the provisions of Regulation 29(1)(d) of SEBI LODR Regulations, we wish to inform you that a Meeting of the Board of Directors of the Company will be held on Tuesday, July 02, 2024, inter alia, to consider and approve the proposal of fundraising and any other business with the permission of the Chairman in compliance with applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time,” the company said in an exchange filing.
The company recently formed a new wholly-owned subsidiary – Standard Insurance Broking Limited.
The authorized capital of the company is Rs 1 crore which is divided into 10 lakh equity shares of Rs 10 equity shares.
The company has already stated that it has received the NOC of the Insurance Regulatory and Development Authority of India and will also take the Insurance Broking License of the Insurance Regulatory and Development Authority of India after incorporation.
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