Loan & Debt3 Jul 2026, 12:07 pm
Akme Fintrade Approves NCD Issuance Up to ₹25 Cr
AI Summary
Akme Fintrade (India) Limited announced that its Loan & Investment Committee has approved the issuance of Listed, Rated, Senior, Secured, Transferable, Redeemable, Non-Convertible Debentures (NCDs) up to ₹25 Crores. The NCDs will be issued on a private placement basis in one or more tranches and will be listed on the National Stock Exchange of India Limited. 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, breach of covenants, and delays in security creation or deed execution.
Key Highlights
- Akme Fintrade to issue NCDs worth up to ₹25 Crores.
- NCDs will be listed, rated, senior, secured, and redeemable.
- Issuance to be conducted via private placement in tranches.
- Minimum security cover of 1.10x to be maintained.
- Penalties apply for payment defaults and covenant breaches.
Price Impact
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