Akme Fintrade Announces Major Share Allotments, Increases Authorized Capital, and Replaces Auditors

Akme Fintrade Announces Major Share Allotments, Increases Authorized Capital, and Replaces Auditors​

Akme Fintrade (India) Ltd. announced several significant corporate actions following its Board meeting held on June 29, 2026. Key decisions included the allotment of equity shares through warrant conversions, approval for an increase in authorized share capital, and appointments regarding the company's audit structure.

The board approved two major preferential allotments involving convertible warrants, with proceeds received from investors:


The first allotment involved the conversion of 3,00,000 warrants into 30,00,000 equity shares at an issue price of Rs. 11.10 per share. The second transaction saw Stellant Securities (India) Limited allotting 1,00,00,000 equity shares against the conversion of 1,00,00,000 warrants at an issue price of Rs. 7 per share.

Governance Changes and Audit Appointments​

The company also addressed changes in its auditing appointments. Ms. Latika Jain, Chartered Accountant, resigned as the Internal Auditor of the Company effective June 29, 2026, citing pre-occupancy in other assignments.

In response to this transition, the Board approved the appointment of Ms. Ankita Jain, Chartered Accountant, as the new Internal Auditor for the period April 01, 2026, to March 31, 2027. Ms. Jain has over 10 years of experience in finance, accounting, audit, and risk management within the NBFC sector.

Regarding statutory auditing, the Board recommended the appointment of M/s Shyam S. Gupta & Associates, Chartered Accountants (Firm Registration No. 007309C), as Statutory Auditors for a term of three consecutive years. This selection comes consequent upon the completion of the tenure of M/s Valawat & Associates, and is subject to approval at the ensuing 30th Annual General Meeting.

Corporate Financial Enhancements​

The Board of Directors approved several key financial enhancements, pending shareholder ratification at the forthcoming 30th Annual General Meeting.

Capital Restructuring:
The authorized share capital of Akme Fintrade was approved for an increase from Rs. 50,00,00,000 to Rs. 60,00,00,000. This increase allows the company to issue 60 crore equity shares of Rs. 1 each, up from the previous structure of 50 crore shares of Rs. 1 each.

Increased Borrowing Limits and Security:
The proposal was approved to enhance the overall borrowing limits of the Company up to an amount not exceeding Rs. 1,200 Crores. Furthermore, the board approved the creation of a charge on the movable and immovable assets of the Company to secure borrowings up to this limit, including existing liabilities.

The company also noted the requirement for its members byintimation separately in due course regarding the 30th Annual General Meeting.

AFIL Stock Price Movement​

Akme Fintrade (India) Limited's equity today closed at ₹10.4, holding steady as shares finished the session with a neutral 0.00% change from the previous close. The stock experienced intraday trading volatility, ranging between a low of ₹10.31 and a high of ₹10.79.