Akme Fintrade Issues ₹50 Cr Non-Convertible Debentures

Akme Fintrade (India) Limited announced its Board of Directors has approved the issuance of Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) up to INR 50 Crores in "Series A1" and "Series A2" on a private placement basis. The NCDs will be issued in one or more tranches. The Loan & Investment Committee has been authorized to determine the quantum, timing, and terms for NCDs up to INR 300 crore. The NCDs are proposed to be listed on the National Stock Exchange of India Limited and will have a tenure of up to 24 months. The company will maintain a security cover of at least 1.10x over loan receivables.