Akme Fintrade (India) Limited has informed the Exchange regarding allotment of 50000 securities pursuant to Non Convertible Debentures at its meeting held on April 20, 2026
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Akme Fintrade India Limited has allotted 50,000 Secured, Listed, Rated, Transferable, Redeemable Non-Convertible Debentures (NCDs) worth INR 50 Crores. Each NCD has a face value of INR 10,000 and carries a coupon rate of 11.25% per annum, payable monthly. The debentures have a tenure of 36 months maturing on April 20, 2029. The company will maintain a security cover of 1.10x over loan receivables. The NCDs are proposed to be listed on NSE. Additionally, the board considered a re-classification request from Star Housing Finance Limited (Promoter group) to the Public category.
The 11.25% coupon rate represents relatively high borrowing costs for the company, which could indicate elevated credit risk or challenging market conditions. For existing shareholders, this NCD issuance increases the company's debt obligations and interest burden.