Akme Fintrade Allots ₹50 Cr Non-Convertible Debentures

Akme Fintrade (India) Limited announced the allotment of 50,000 Secured, Listed, Rated, Redeemable, Non-Convertible Debentures (NCDs) worth ₹50 Crores. The allotment, made on a private placement basis, comprises Series A1 and Series A2. The NCDs carry an interest rate of 11.40% payable monthly, with the principal due on maturity in September 2028. The company will maintain a security cover of at least 1.10x over loan receivables. Penalties, including additional interest of 2% per annum, apply in case of payment defaults or breaches of covenants.