Akme Fintrade allots NCDs worth 50 crore via private placement
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Akme Fintrade allotted 50,000 secured listed NCDs at INR 10,000 each, totalling INR 50 crore via private placement to eligible investors. Series A1: 25 crore at 11.40 percent coupon, 24-month tenure, matures Sep 2028. Series A2: 25 crore at 11.60 percent coupon, 30-month tenure, matures Mar 2029. Interest paid monthly, principal on maturity. Backed by 1.10x security cover on loan receivables. Proposed to be listed on NSE.
Raises 50 crore debt at high coupons, signalling funding needs but adds interest cost burden for equity shareholders.