Akme Fintrade (India) Ltd

NCD issuance

• Type: Listed, rated, senior, secured, transferable, redeemable non-convertible debentures.
• Issuance: private placement to eligible investors.
• Size: Series A1 up to Rs 25 crore; Series A2 up to Rs 25 crore.
• Aggregate size: up to Rs 50 crore.
• Listing: proposed to be listed on NSE.
• Tenure and maturity: per Key Information Document.
• Coupon/interest: per Key Information Document.
• Security: minimum 1.10x cover over loan receivables.
• Default: 2% p.a. extra interest on defaults until cured.
• Covenants breach: 2% p.a. over coupon for covenants default.
• Delay in security creation: 2% p.a. extra interest over rate.
• Delay in Debenture Trust Deed: penal interest 2% p.a. over coupon until execution.

Loan sanction

• Term loan of Rs 15 crore sanctioned by Tourism Finance Corporation of India Limited to Akme Fintrade (India) Limited.
• Date of sanction: August 18, 2026; terms not disclosed in filing.

Lapse and forfeiture of convertible warrants

• 20,00,000 convertible warrants lapsed due to non-payment.
• 25% upfront subscription received; 75% due on exercise within 18 months.
• Balance not paid; lapse effective on or before July 29, 2026.
• Upfront amount forfeited: Rs 5,55,00,000, effective July 30, 2026.
• No rights to convert; no change in paid-up capital.
• Forfeited amount retained by the company under ICDR Regulations.
• Board to pass necessary resolution at forthcoming meeting.
• Holders: Shubhash Rathod (10L); Saajan Rathod (5L); Mayank Rathod (5L).
• Total forfeiture: Rs 5,55,00,000; total lapsed: 20,00,000.
• Original allotment: Jan 30, 2025 at Rs 111 per warrant.

AGM details

• AGM held on 04-08-2026 from 12:30 PM to 12:55 PM.
• Remote e-voting open 01-08-2026 to 03-08-2026; voting occurred at AGM.
• Mode of meeting not explicitly stated; voting by e-voting and at AGM.
• Record date for voting: 28-07-2026.
• Total shareholders on record: 36,726.

Key resolutions

• Adoption of standalone financial statements and reports (ordinary); passed.
• Re-appointment of director by rotation (ordinary); passed.
• Appointment of statutory auditor and remuneration (ordinary); passed.
• Increase in overall borrowing limits (special); passed.
• Creation of charge on assets to secure borrowings (special); passed.
• Kamlesh Jain appointed Executive Director; remuneration FY2025-26 (ordinary); passed.
• Waiver of recovery of excess managerial remuneration (special); passed.
• Increase in authorized share capital and MOA alteration (ordinary); passed.
• Approval of material related party transactions with Estate Limited (ordinary); passed.

Voting results

• Resolutions passed with overwhelming support; minor opposition noted on related party items.

Director changes

• Jinit Sur re-appointed as director by rotation.
• Kamlesh Jain appointed Executive Director; remuneration FY2025-26.

Auditor appointments

• Statutory auditor appointed; remuneration fixed.

Material related party transactions

• Approved material related party transactions with Estate Limited.

Other material approvals

• Increase in authorized capital and MOA alteration approved.

Partnership details

• Strategic partnership with Shriram General Insurance to distribute general insurance via Akme Fintrade's branch network.
• Intends to expand product offerings and enhance customer convenience and financial inclusion.
• Transaction is in ordinary course and not a material event per SEBI master circular.
• No financial terms, investment amounts, or revenue impact disclosed.
• No governance, board, or auditor changes reported.

Financial highlights

• AUM rose to Rs 965.07 crore at 30 Jun 2026, up 42.96% YoY.
• Interest income for the quarter: Rs 41.07 crore, up 34.17% YoY.
• Net Interest Income (NII) for the quarter: Rs 23.57 crore, up 22.25% YoY.
• Disbursements for the quarter were Rs 84.10 crore, up 19.46% YoY.
• Profit After Tax (PAT) was Rs 11.57 crore, up 20.40% YoY.
• CAR including Tier II stood at 46.37%, Tier I at 45.54%.
• NIM stood at 11.77% for the quarter.
• EPS rose to Rs 0.27, up 17.39% YoY.
• GNPA at 2.91% (2.92% YoY), NNPA at 1.41% (1.42% YoY).
• Credit cost declined to 0.31% from 1.22% YoY.

Strategic initiatives and outlook

• Introduced Akme GreenX, a sustainability financing program for green initiatives.
• Management notes improved credit ratings and flexible fundraising opportunities.
• Focused on MSME and vehicle lending with technology-driven underwriting and processes.