Akme Fintrade (India) Limited, a company listed on Indian stock exchanges, has secured a term loan of Rs. 10 crore from ICICI Bank Limited, one of India's leading private sector banks. This development was disclosed in a recent regulatory filing, highlighting a significant financial arrangement between the two entities.

Loan Details

The term loan sanctioned by ICICI Bank amounts to Rs. 10,00,00,000 (Rupees Ten Crores). This information was made public through a regulatory filing submitted to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Regulatory Compliance

In adherence to transparency requirements, Akme Fintrade promptly informed the stock exchanges about this financial development. The regulatory filing was signed by Manoj Kumar Choubisa, the Company Secretary and Compliance Officer of Akme Fintrade, ensuring compliance with disclosure norms.

Potential Implications

While the specific purpose of the loan remains undisclosed, term loans are typically utilized for business expansion, capital expenditure, or other long-term financial needs. This infusion of funds from ICICI Bank could potentially support Akme Fintrade's growth strategies or operational enhancements.

Investor Information

Akme Fintrade has made this information available on its official website ( www.akmefintrade.com ), allowing shareholders and potential investors to access the details of this financial arrangement.

This term loan sanction represents a noteworthy financial transaction in the Indian corporate landscape, potentially influencing the future operations and financial position of Akme Fintrade.

Akme Fintrade (India) Limited, a prominent player in the financial services sector, has taken a significant step to bolster its capital base. The company's board of directors has approved and executed a fundraising initiative of ₹50 crore through the issuance of Non-Convertible Debentures (NCDs).

Key Details of the NCD Issuance

The board meeting, held on August 22, at the company's registered office, resulted in the allotment of 50,000 Listed, Rated, Senior, Secured, Transferable, Redeemable NCDs. Each debenture is valued at ₹10,000, culminating in an aggregate amount of ₹50.00 crore. This private placement is designed to attract eligible investors without diluting the company's equity.

NCD Specifications

• Listing: The NCDs are proposed to be listed on the National Stock Exchange (NSE) Limited.
• Tenure: The instruments have a maturity period of up to 24 months, with the allotment date set as August 22 and the maturity date as August 22, two years later.
• Interest Rate: The NCDs offer a coupon rate of 12.00% per annum.
• Payment Schedule: Interest will be payable monthly, with the principal due at maturity.
• Security: The company will maintain a security cover of at least 1.20 times over loan receivables throughout the tenure of the debentures.

Financial Implications

This strategic move allows Akme Fintrade to raise substantial capital without impacting its equity structure. The NCDs provide a fixed-income investment opportunity for eligible investors while offering the company a structured approach to manage its debt and support its growth initiatives.

Additional Board Decisions

In the same meeting, the board also approved the appointment of M/s. Pachori Rupesh & Associates as the company's internal auditor for the upcoming financial year. This appointment aims to strengthen Akme Fintrade's internal control and risk management processes.

Market Impact

The successful placement of NCDs demonstrates investor confidence in Akme Fintrade's financial stability and growth prospects. This capital infusion is expected to enhance the company's lending capabilities and support its expansion plans in the competitive financial services market.