AFIL : RAISES RS 50 CR VIA NCD PRIVATE PLACEMENT

• Board allotted 50,000 secured, listed, rated, redeemable NCDs of ₹10,000 each aggregating ₹50 Cr on private placement basis • Series A1: 25,000 NCDs worth ₹25 Cr at 11.40% coupon; tenure up to 24 months, maturity October 19, 2028 • Series A2: 25,000 NCDs worth ₹25 Cr at 11.60% coupon; tenure up to 30 months, maturity April 19, 2029 • Interest payable monthly, principal on maturity; debentures proposed to be listed on NSE • Company to maintain minimum security cover of 1.10x over present and future loan receivables • Additional interest of 2% p.a. payable on payment default or breach of covenants Impact: Neutral (Adds ₹50 Cr of secured borrowings at 11.40-11.60% cost; strengthens liabilities profile but raises interest outgo)

Akme Fintrade (India) Limited

Open attachment

← Back to feed