Akme Fintrade (India) Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on March 20, 2026
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Awaiting price reaction for this filing.
Akme Fintrade has called an EGM on March 20, 2026 (via video conferencing) to seek shareholder approval for issuing up to 12.25 crore convertible warrants at Rs. 7 each on a preferential and private placement basis. Each warrant can be converted into one equity share of Rs. 1 face value within 18 months, with allottees paying 25% upfront and the balance 75% on conversion. Promoter Nirmal Kumar Jain and promoter group entity Akme Build Estate Limited will subscribe to 2.5 crore warrants combined, while the remaining 9.75 crore warrants are proposed to be allotted to 13 non-promoter entities and individuals including Akme Finnova Advisors LLP (1.5 crore), Infront Enterprises (2.5 crore), and several other HNIs and corporates. E-voting will be open from March 17 to March 19, 2026, with March 13, 2026 as the cut-off date. If all warrants are fully exercised, the company could raise up to approximately Rs. 85.75 crore.
This is a significant dilution event for existing shareholders, with the potential to expand the equity base by up to 12.25 crore shares via warrant conversion. However, it also brings in fresh capital for the NBFC. Promoters are participating, which signals confidence, but the large size relative to the company and the low exercise price of Rs. 7 per share may weigh on the stock in the short term. Shareholders should evaluate the dilution impact and the proposed use of funds before voting.