AFIL Board Approves Share Allotment, Auditor Changes, Capital Increase
AFIL's Board approved allotment of 30 lakh shares to Pushpa Jugraj Jain at ₹11.10 and 1 crore shares to Stellant Securities at ₹7. Ms. Latika Jain resigned as Internal Auditor, replaced by Ms. Ankita Jain. Shyam S. Gupta & Associates recommended as Statutory Auditors. Authorized capital to increase to ₹60 crore, borrowing limit to ₹1,200 crore, subject to shareholder nod.
The share allotments and increase in authorized capital and borrowing limits indicate potential for future growth and financial activities, which could have a medium-term impact on the company's financial structure and operations.
The company is undertaking significant corporate actions including share allotments, auditor changes, and capital increases, which are generally viewed positively as signs of growth and operational stability.
Akme Fintrade (India) Limited (AFIL) announced the outcome of its Board Meeting held on June 29, 2026. The Board approved the allotment of 30,00,000 equity shares at an issue price of ₹11.10 each, converting warrants previously allotted on February 07, 2025. This conversion involved Pushpa Jugraj Jain and resulted in the receipt of ₹2,49,75,000.
Furthermore, the Board approved the allotment of 1,00,00,000 equity shares at an issue price of ₹7 each, converting warrants allotted on May 21, 2026. Stellant Securities (India) Limited converted warrants, leading to the receipt of ₹5,25,00,000.
In terms of personnel changes, the Board accepted the resignation of Ms. Latika Jain as Internal Auditor, effective June 29, 2026. Subsequently, Ms. Ankita Jain, a Chartered Accountant with over 10 years of experience, was appointed as the new Internal Auditor for the financial year 2026-2027.
The Board also recommended the appointment of M/s. Shyam S. Gupta & Associates, Chartered Accountants, as the Statutory Auditors for a term of three consecutive years, commencing from the conclusion of the upcoming 30th Annual General Meeting (AGM) until the conclusion of the 33rd AGM. This appointment follows the completion of the term for the current auditors, M/s. Valawat & Associates.
Significant corporate actions were also approved, including an increase in the authorized share capital from ₹50 Crores to ₹60 Crores, subject to shareholder approval at the 30th AGM. The Board also proposed an increase in the company's borrowing powers up to ₹1,200 Crores and the creation of charges on assets to secure these borrowings, both subject to shareholder approval.
The notice for the 30th AGM will be issued separately, with the date, time, and mode to be intimated in due course. All approved decisions are pending necessary shareholder and regulatory approvals.
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Akme Fintrade (India) Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Akme Fintrade (India) Limited. Read the original for the full detail.