Akme Fintrade (India) Ltd

Debt & Borrowing

Akme Fintrade (India) Debt & Borrowing: ₹50 Cr

Akme Fintrade (India) Limited allotted 50,000 Secured, Rated, Non-Convertible Debentures (NCDs) aggregating to ₹50.00 Crore on a private placement basis. The NCDs carry an 11.25% coupon rate and a 36-month tenure. The Board also approved the re-classification of Star Housing Finance Limited from 'Promoter Group' to 'Public' category.

Value

₹50.00 Cr

Execution

Upto 36 months

Promoter Reclassification

Akme Fintrade (India) Promoter Reclassification

Akme Fintrade (India) Limited received a request from Star Housing Finance Limited to reclassify its status from 'Promoter Group' to 'Public'. Star Housing Finance Limited currently holds zero shares in the company. The request is subject to approval by the Board of Directors and relevant stock exchanges.

Credit Rating

Akme Fintrade (India) Credit Rating

Akme Fintrade (India) Limited received a credit rating upgrade from Acuité Ratings & Research. Long-term ratings for Rs. 855 Crore in bank facilities and NCDs were upgraded to 'ACUITE A-' with a Stable outlook, reflecting sustained loan portfolio growth and healthy capital structure.

Value

₹855.0 Cr

Debt & Borrowing

Akme Fintrade (India) Debt & Borrowing: ₹50 Cr

Akme Fintrade (India) Limited has approved the issuance of senior, secured, rated, non-convertible debentures (NCDs) worth up to ₹50 Crore. The NCDs will be issued on a private placement basis in one or more tranches and proposed for listing on the NSE. The company will maintain a minimum security cover of 1.10x.

Value

₹50.00 Cr