Akme Fintrade (India) Ltd. Approves Issue of Warrants to Subhash Rathod, Saajan Rathod & Mayank Rathod, Representing 5% stake post conversion
Akme Fintrade (India) Limited, a non-banking finance company (NBFC), offering vehicle and business loans in rural and semi-urban geographies, has announced fund raise of up to Rs. 44.96 Crores through issue of convertible warrants to various promoter and non promoter group persons at an issue price of Rs. 111 per warrant.
Amongst proposed allotees are Ace Investor Subhash Rathod, Saajan Rathod and Mayank Rathod subscribing to 10 lakh, 5 lakhs and 5 lakhs warrants respectively which represents a combined stake of 5% post conversion, while Mr. Nirmal Jain, the promoter, will be allotted 11 Lakh convertible warrants.
Earlier, the company announced stellar earnings for H1FY25 & Q2FY25. Interest income increased by 34.29% year-on-year to ₹42.79 crores. Profit After Tax (PAT) surged by 152.07% year-on-year, reaching ₹16.75 crores. Assets Under Management (AUM) grew by 24.51% year-on-year, totaling ₹495.41 crores. Disbursements for the quarter were ₹59.23 crores, showing remarkable growth of 64.48% quarter-on-quarter and 185.72% year-on-year. Akme Fintrade (India) Limited is a BSE and NSE Listed company. Incorporated in 1996, Akme Fintrade is a non-banking finance company (NBFC), offering vehicle and business loans in rural and semi-urban geographies. The company provides lending solutions for rural and semi urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners. Their key borrowers are individuals and small business owners requiring vehicle loans and business finance. The vehicle financing comprises used commercial vehicles, 2-wheeler loans, and used 2-wheeler loans