Akme Fintrade Approves Issuance of Non-Convertible Debentures Up To INR 25 Crores
Akme Fintrade (India) Limited has approved the issuance of Listed, Rated, Senior, Secured, Transferable, Redeemable, Non-Convertible Debentures (NCDs). The decision was reached by the Loan & Investment Committee following a meeting held on July 03, 2026.The company plans to issue these debentures through a private placement basis in one or more tranches. The total size of the issuance is capped at up to INR 25,00,00,000 (Indian Rupees Twenty-Five Crores). Furthermore, Akme Fintrade intends to list the security on the National Stock Exchange of India Limited.
The structured debenture issuance carries specific conditions and penalty provisions designed to ensure investor protection regarding repayment and covenant adherence. The terms include mandatory security coverage requirements, alongside defined penalties for various types of defaults or delays.
Key details regarding the proposed NCDs are summarized below:
| Particulars | Details |
|---|---|
| Type of Securities | Listed, Rated, Senior, Secured, Transferable, Redeemable, Non-Convertible Debentures ('Debentures') |
| Issuance Type | Issue on a private placement basis to eligible investors |
| Total Issue Size | Up to INR 25,00,00,000 (Indian Rupees Twenty-Five Crores) in one or more tranches series |
| Stock Exchange Listing | Proposed to be listed on National Stock Exchange of India Limited |
Security and Default Provisions
The company has mandated specific security requirements for the debentures. The issuer must maintain a Minimum Security Cover of at least 1.10 times over loan receivables, encompassing both present and future receivables, up until the Deemed Date of Allotment.The transaction documents establish penalties for various breaches:
- Payment Default: If there is a payment default or any other Event of Default for more than three months from the due date, the company must pay an additional interest rate of 2% per annum above the applicable Interest Rate until the default is cured or the final redemption amount is paid.
- Breach of Covenants: In case of a default by the Issuer in performing any covenants and undertakings (including financial covenants), an additional interest of 2% p.a. over the Coupon Rate will apply.
- Security Creation Delay: Should the Issuer fail to execute the Hypothecation Agreement and perfect security within established timelines, they must pay additional interest of 2.00% above the Interest Rate.
- Trust Deed Execution Delay: If there is a delay in executing the Debenture Trust Deed, the company will pay penal interest of at least 2% p.a. over the Coupon Rate until the deed is executed.
AFIL Stock Price Movement
As of 12:14 PM, shares of Akme Fintrade (India) Limited are shedding 0.10% in live trading, currently priced at ₹10.35 following a minor slip from its previous close. The equity has seen a total traded volume of 235,551 shares during the session.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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