Akme Fintrade (India) Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on March 20, 2026
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Akme Fintrade has issued a corrigendum to its March 20, 2026 EGM notice, mainly clarifying details of a proposed preferential allotment of convertible warrants. The company plans to issue 12.25 crore warrants at Rs. 7 each, raising about Rs. 85.75 crore. The minimum issue price of Rs. 7 was fixed as the higher of the 90-day VWAP (Rs. 7) and 10-day VWAP (Rs. 5.10) on NSE. The funds will be used to meet working capital needs for extending loans under vehicle and business/MSME segments. After full conversion, the share count will rise from 42.67 crore to 58.04 crore shares, with promoter holding dipping from 41.20% to 35.84% and Indian public stake falling from 44.44% to 38.53%. The allottee list includes 15 entities, with promoter Nirmal Kumar Jain getting the largest chunk of 1 crore warrants (post-issue stake of 22.62%). The company clarified that there will be no change in control from this issue.
Existing shareholders will see their stake diluted by roughly 28-29% on a fully converted basis, though the issue is at a price not lower than regulatory minimums and no change in control is triggered. The capital raise supports the NBFC's lending growth, which could be positive for long-term business but is mildly dilutive in the near term.