Board allots 50,000 NCDs of INR 10,000 each, aggregating INR 50,00,00,000, in Series A1 and A2
The board of Akme Fintrade (India) Ltd approved allotment of 50,000 secured, listed, rated NCDs of INR 10,000 each, totalling INR 50,00,00,000, on a private placement basis.
By ScoutQuest · · 2 min read
- Total NCD Issue Size
- 50,000 secured, listed, rated NCDs of INR 10,000 each, totalling INR 50,00,00,000
- Series-wise Coupon
- Series A1: INR 25,00,00,000 at 11.40%; Series A2: INR 25,00,00,000 at 11.60%
- Security Cover and Maturity
- Minimum security cover of 1.10x over loan receivables; maturities October 19, 2028 (A1) and April 19, 2029 (A2)
What was approved
The board of Akme Fintrade (India) Limited met on October 19, 2026 and approved the allotment of 50,000 secured, listed, rated, senior, transferable, redeemable, non-convertible debentures of INR 10,000 each, aggregating INR 50,00,00,000, on a private placement basis, split into Series A1 and Series A2.
The two series
- Series A1: NCDs aggregating INR 25,00,00,000, coupon 11.40%, maturity on October 19, 2028.
- Series A2: NCDs aggregating INR 25,00,00,000, coupon 11.60%, maturity on April 19, 2029.
- Interest is payable monthly and the principal on maturity, in line with the Debenture Trust Deed executed between the issuer and the Debenture Trustee.
- Both series are proposed to be listed on NSE Limited.
Security and protections
- The company shall maintain a minimum security cover of at least 1.10x at all times during the tenure of the debentures, over loan receivables, present and future, that meet the stated eligibility criteria, with the prescribed cover in place on or prior to the Deemed Date of Allotment.
- The update also sets out additional interest payable over the applicable rate if there is a payment default or an event of default, on breach of covenants and undertakings, and penal interest if creation of security or execution of the Debenture Trust Deed is delayed. Penalties are payable within 30 calendar days of the breach and at the end of every subsequent thirty-day period until cured.
- The special rights and privileges column is marked Not Applicable, and there are no letters or comments on non-payment of interest or principal recorded against the instrument.
How to read this
This is fresh borrowing by the company. The coupons of 11.40% and 11.60% are the interest the company pays to debenture holders, so the money raised adds to its debt and the monthly interest is a recurring cost. Because it is a private placement to eligible investors, retail shareholders are not being asked to subscribe. The debentures are secured against the company's loan receivables, which is its lending book, so the security is linked to the quality of that book. Redemption of the NCDs will be as per the Debenture Trust Deed.
Also from Akme Fintrade (India)
Board meeting on October 30, 2026 to consider and approve September quarter results
23 Oct 2026
Board allots 50,000 NCDs aggregating INR 50,00,00,000 in two series
19 Oct 2026
Board approves NCD issue up to INR 50 crore in Series A1 and A2; committee authorised up to INR 300 crore
10 Oct 2026
More numbers
- Total NCDs allotted50,000
- Face value per NCDINR 10,000
- Total amount allottedINR 50,00,00,000
- Series A1 issue sizeINR 25,00,00,000
- Series A1 coupon11.40 %
- Series A2 issue sizeINR 25,00,00,000
- Series A2 coupon11.60 %
- Minimum security cover1.10x
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