<h1>Akme Fintrade Allots INR 50 Crores Worth of Secured Non-Convertible Debentures</h1>
Akme Fintrade (India) Limited has completed the allotment of secured, listed, and transferable Non-Convertible Debentures (NCDs) in two tranches, Series A1 and Series A2, totaling INR 50 Crores through a private placement basis. The Board of Directors approved the issuance on September 10, 2026.
The issuance across both series involves a total of 50,000 NCDs, each valued at INR 10,000. These debentures are proposed to be listed on the National Stock Exchange of India (NSE).
The details of the two series are as follows:
| Feature | Series A1 | Series A2 |
|---|---|---|
| Total Size of Issue | INR 25,00,00,000 (Indian Rupees Twenty-Five Crores) | INR 25,00,00,000 (Indian Rupees Twenty-Five Crores) |
| Number of Securities | 25,000 NCDs | 25,000 NCDs |
| Coupon/Interest Offered | 11.40% | 11.60% |
| Tenure | Up to 24 months | Up to 30 months |
| Allotment Date | September 10, 2026 | September 10, 2026 |
| Maturity Date | September 10, 2028 | March 10, 2029 |
Security and Terms
For both Series A1 and Series A2, the company is obligated to maintain a Minimum Security Cover of 1.10x at all times during the tenure of the debentures. This cover must be maintained over loan receivables, present and future, of the Issuer that meet the eligibility criteria.Interest and Default Provisions
The interest payment for both Series A1 and Series A2 is scheduled to be paid on a monthly basis, with the principal repayment due upon maturity, as governed by the Debenture Trust Deed.The terms for default are stringent across both tranches:
- Breach of Covenants: In the event of any default by the Issuer regarding the covenants and undertakings of the issuance, the company agrees to pay an additional interest rate of 2% per annum above the Coupon Rate for the defaulting period. This penalty must be paid within 30 calendar days of the breach; if the breach continues beyond this initial period, the penalty becomes payable at the end of every subsequent 30-day period until the breach is cured.
- Delay in Security Creation: Should the Issuer fail to execute the Hypothecation Agreement and perfect security within the stipulated timelines, the Issuer must pay additional interest of 2.00% over and above the applicable Interest Rate.
- Delay in Trust Deed: If the Debenture Trust Deed is delayed in execution, the Company will pay penal interest of at least 2% per annum over the Coupon Rate until the execution of the Deed.
The NCDs will be redeemed in accordance with the Debenture Trust Deed executed between Akme Fintrade (India) Limited and the Debenture Trustee.
AFIL Stock Price Movement
As of 12:37 PM, shares of Akme Fintrade (India) Limited are slipping by 0.55% in live trading, currently trading at ₹8.96. The stock has seen a trading volume of 440,692 shares so far in the market.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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