Akme Fintrade (India) Limited has informed the Exchange about issue of Non- Convertible Debenture.
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Akme Fintrade (India) Limited has announced the issuance of Senior, Secured, Listed, Rated, Transferable, Redeemable Non-Convertible Debentures (NCDs) of up to ₹30 Crores on a private placement basis, to be issued in one or more tranches. The NCDs are proposed to be listed on the NSE. The company will maintain a minimum security cover of 1.10x over its eligible loan receivables, indicating the funds are likely intended for onward lending. Coupon rate, tenure, and redemption schedule will be as per the key information document. The company has also disclosed standard default penalties, including an additional 2% per annum interest in case of payment default, breach of covenants, delay in security creation, or delay in executing the Debenture Trust Deed.
This is a modest debt raise of ₹30 Crores via NCDs, which will add to the company's existing borrowings and could slightly pressure debt servicing metrics, though the 1.10x asset cover provides some cushion. For shareholders, the dilution risk is nil as these are non-convertible instruments, but the additional interest outflow may marginally weigh on net earnings depending on the coupon rate, which has not been disclosed yet.