Akme Fintrade Approves ₹50 Crore NCD Private Placement and Re-classification of Promoter Group
Akme Fintrade (India) Limited announced that its Board of Directors, during a meeting held on Monday, April 20, 2026, approved two key corporate actions: the private placement of Non-Convertible Debentures (NCDs) and consideration of the re-classification of a promoter group entity.The Board approved the allotment of 50,000 Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) to be issued on a private placement basis. The total aggregate value of this issuance stands at INR 50,00,00,000 (Indian Rupees Fifty Crores).
The NCD issuance details approved by the Board are as follows:
| Particulars | Details |
|---|---|
| Total Number of Securities Allotted | 50,000 NCDs |
| Face Value per NCD | INR 10,000 (Indian Rupees Ten Thousand) |
| Total Issue Size | INR 50,00,00,000 (Indian Rupees Fifty Crores) |
| Coupon/Interest Offered | 11.25% |
| Interest Payment Schedule | Monthly basis |
| Maturity Date | April 20, 2029 |
| Security Coverage | Minimum Security Cover of 1.10x maintained over loan receivables |
The NCDs are proposed to be listed on the NSE Limited, with an initial allotment date of April 20, 2026.
Promoter Group Re-classification
In addition to the debt issuance, the Board also considered and analyzed request letters dated April 08, 2026, received from Star Housing Finance Limited. This entity belongs to the Promoter group and sought re-classification from the 'Promoter and Promoter Group' category to the 'Public' category, under the Listing Regulations.The Board found that the Outgoing Promoters met the specified conditions and viewed the matter favorably, subject to the receipt of No Objection from the Stock Exchange.
The details of the associated shareholder movement are presented below:
| Shareholder | Category | No. of Equity Shares | Percentage of Equity Share Capital |
|---|---|---|---|
| Star Housing Finance Limited | Promoter Group | 0 | 0.00% |
AFIL Stock Price Movement
As of 11:58 AM, shares of Akme Fintrade (India) Limited are slipping by 1.02% in live trading, currently priced at ₹9.71. Despite shedding ₹0.10 today, the stock’s performance remains notable, having previously hit a 52-week high of ₹10.16.Source:
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