Akme Fintrade (India) Limited has informed the Exchange about the issue of Non Convertible Debenture.
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Akme Fintrade (India) Limited's board has approved the issuance of Listed, Rated, Senior, Secured, Redeemable Non-Convertible Debentures (NCDs) worth up to ₹50 Crores on a private placement basis, in one or more tranches, to be listed on NSE. The NCDs will carry a 12% per annum coupon paid monthly, with a tenure of up to 24 months and principal repayment in four equal instalments at the 15th, 18th, 21st, and 24th month. The issue is secured with a minimum 1.20x security cover over eligible loan receivables, with a 2% additional penalty interest in case of default. Separately, the board appointed Mrs. Neelam Tater (Chartered Accountant and Company Secretary) as an Additional Independent Director for a 5-year term, subject to shareholder approval.
The ₹50 Crore NCD raise will strengthen the NBFC's lending capital, supporting business growth, though the 12% coupon is on the higher side, reflecting the cost of funding for a small NBFC. Existing shareholders are not directly diluted since these are debt instruments, but rising interest costs could pressure margins if lending yields don't keep pace.