Akme Fintrade Approves Equity Allotment, Auditor Changes, and Capital Increase
Akme Fintrade approved allotting 30 lakh equity shares at ₹11.10 and 1 crore equity shares at ₹7, raising funds via warrant conversion. Ms. Latika Jain resigned as Internal Auditor, replaced by Ms. Ankita Jain. Shyam S. Gupta & Associates recommended as Statutory Auditors, subject to AGM approval. Authorized capital increased to ₹60 crore, borrowing limits to ₹1,200 crore.
The equity allotment and increase in borrowing limits can significantly impact the company's financial structure and growth potential. Changes in auditors and appointments are also material.
The company is undertaking several positive corporate actions including equity allotment, capital increase, and auditor appointments, which are generally viewed favorably by the market.
Akme Fintrade (India) Limited 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 held by Pushpa Jugraj Jain. This conversion, based on warrants allotted on February 07, 2025, resulted in the receipt of ₹2,49,75,000.
Additionally, the company approved the allotment of 1,00,00,000 equity shares at an issue price of ₹7 each, converting warrants held by Stellant Securities (India) Limited. These warrants were allotted on May 21, 2026, and the conversion yielded ₹5,25,00,000.
The Board also accepted the resignation of Ms. Latika Jain as the Internal Auditor, effective June 29, 2026, due to pre-occupancy in other assignments. 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.
Furthermore, the Board recommended the appointment of M/s. Shyam S. Gupta & Associates as the Statutory Auditors for a term of three years, commencing from the conclusion of the 30th Annual General Meeting (AGM) until the conclusion of the 33rd AGM. This appointment is subject to shareholder approval at the upcoming 30th AGM, succeeding M/s. Valawat & Associates.
The company also approved an increase in its authorized share capital from ₹50,00,00,000 to ₹60,00,00,000, divided into 60,00,00,000 equity shares of ₹1 each. This requires shareholder approval at the 30th AGM.
In line with corporate growth, the Board approved an increase in the company's borrowing limits up to ₹1,200 Crores, subject to shareholder approval. Concurrently, the creation of charges on the company's assets to secure borrowings up to ₹1,200 Crores was also approved, pending shareholder consent.
The Board also approved the notice for the 30th AGM, with the date, time, and mode to be intimated separately.
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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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