Akme Fintrade (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on April 20, 2026.
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The Board of Directors of Akme Fintrade (India) Limited approved the allotment of 50,000 Secured, Listed, Rated, Transferable, Redeemable Non-Convertible Debentures (NCDs) worth INR 50 crores on a private placement basis. The NCDs carry a coupon rate of 11.25% per annum with interest payable monthly and principal repaid on maturity. The tenure is 36 months, maturing on April 20, 2029. The Company will maintain a minimum security cover of 1.10x over loan receivables. The NCDs are proposed to be listed on NSE. Separately, the Board also considered a reclassification request from Star Housing Finance Limited (Promoter group entity) to move from 'Promoter and Promoter Group' to 'Public' category, subject to stock exchange approval.
The INR 50 crore NCD issuance strengthens Akme Fintrade's capital base and provides debt funding at a relatively high coupon of 11.25%. The promoter reclassification, if approved, will reduce the promoter group shareholding footprint on the company's public shareholding structure.