Loan & Debt19 Oct 2026, 11:45 am
Akme Fintrade Allots ₹50 Cr NCDs
AI Summary
Akme Fintrade (India) Limited announced the allotment of 50,000 Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) worth ₹50,00,00,000 (₹50 Crore) on October 19, 2026. The allotment was made on a private placement basis in Series A1 and Series A2. The Series A1 NCDs, totaling ₹25,00,00,000 (₹25 Crore), have a tenure of up to 24 months with a maturity date of October 19, 2028. The coupon rate offered is 11.40%, with interest payable monthly and principal on maturity. The company will maintain a security cover of at least 1.10x over loan receivables. Penalties, including additional interest of 2% per annum, are stipulated for payment defaults or breaches of covenants.
Key Highlights
- Allotted 50,000 NCDs worth ₹50 Crore on private placement.
- NCDs are Secured, Listed, Rated, Transferable, and Redeemable.
- Series A1 NCDs mature on October 19, 2028, with 11.40% coupon.
- Company to maintain 1.10x security cover over loan receivables.
- Penalties apply for payment defaults and covenant breaches.
Price Impact
More from AFIL