Akme Fintrade Allots ₹25 Cr Non-Convertible Debentures

Akme Fintrade (India) Limited announced the allotment of 25,000 Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) with a face value of ₹10,000 each, aggregating to ₹25 Crores. The allotment was made on a private placement basis. The NCDs carry an interest rate of 11.50% per annum, payable monthly, with the principal due on maturity on July 14, 2028. The debentures are secured and will be listed on NSE Limited. The company has outlined terms for potential payment defaults and breaches of covenants, including additional interest penalties.