Akme Fintrade (India) Ltd board of directors approved the issuance of secured, listed, rated, transferable, redeemable non-convertible debentures (NCDs) up to ₹50 crore on a private placement basis.

The approval, granted during a meeting held on October 10, 2026, covers two specific series: Series A1 and Series A2. The company will issue these instruments in one or more tranches to eligible investors. The debentures are proposed to be listed on the National Stock Exchange of India Limited.

Series Details and Tenure

The total issue size of ₹50 crore is split equally between the two series, with each capped at ₹25 crore. The tenure for the instruments varies by series, offering different maturity profiles to investors.

The coupon rate and interest payment schedule for both series are specified in the key information document. The company is required to maintain a minimum security cover of 1.10x over loan receivables that meet eligibility criteria throughout the tenure of the debentures.

Default Provisions and Penalties

The filing outlines strict penalties for payment defaults or breaches of covenants. In the event of a payment default or any other event of default, the company agrees to pay an additional interest rate of 2% per annum above the applicable interest rate on the outstanding principal amount. This penalty applies from the date of the default until it is cured or the final redemption amount is paid.

Similar penal interest of 2% per annum applies in cases of:

• Breach of covenants and undertakings, payable within 30 calendar days of the breach.
• Delay in executing the hypothecation agreement and perfecting security.
• Delay in executing the debenture trust deed beyond SEBI-prescribed timelines.

Board Authorization for Larger Limit

Beyond the immediate ₹50 crore approval, the board has further authorised the Loan & Investment Committee to determine and approve the quantum, timing, and other terms for the issue of NCDs up to ₹300 crore. This broader authorization provides the committee with flexibility to raise capital as needed within this higher ceiling, subject to regulatory compliance and market conditions.

The meeting commenced at 11:00 am and concluded at 11:30 am. The intimation was filed under Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Akme Fintrade (India) Limited has received trading approval from the National Stock Exchange of India and BSE for 1.3 crore equity shares. The new shares will commence trading on October 6, 2026.

The approval covers equity shares with a face value of ₹1 each, allotted to non-promoters on a preferential basis pursuant to the conversion of warrants issued under Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The regulatory nod was granted by both exchanges on October 5, 2026.

Impact on listed capital

Following the allotment and subsequent listing, the company's paid-up equity capital increased significantly. The total number of fully paid equity shares now stands at 43,97,49,960, resulting in a listed capital of ₹43,97,49,960.

The trading approval letters confirm that the securities are admitted to dealings on the respective exchanges effective Tuesday, October 6, 2026. The company filed the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share allotment details

The 1.3 crore shares were allotted in two distinct tranches, both subject to lock-in restrictions until April 15, 2027. The breakdown of the allotment is as follows:

All shares carry a face value of ₹1 each. The warrants were converted into equity shares, facilitating the increase in the company's shareholding base among non-promoter investors.

What the numbers show

The data reveals a divergence in the premium realized across the two tranches of warrant conversion. While the smaller tranche of 30 lakh shares was issued at a higher premium of ₹10.10 per share, the larger tranche of 1 crore shares carried a lower premium of ₹7 per share. This suggests that the conversion pricing varied between the two sets of warrants, potentially reflecting different entry valuations or issuance timelines prior to the final allotment.