Akme Fintrade (India) Limited (BSE: 544200, NSE: AFIL) has announced that it has secured a term loan of Rs. 25 crore from Maanaveeya Development & Finance Private Limited. This funding will support the company’s continued growth and operational needs, marking a significant milestone in its financial journey.
The term loan of Rs. 25,00,00,000 (Rupees Twenty-Five Crores Only) will be utilized for business expansion and to further strengthen Akme Fintrade’s financial position. This strategic move will provide the company with the necessary resources to execute its growth plans, expand its services, and enhance its market position.
Commenting on the loan sanction, Manoj Kumar Choubisa, Company Secretary and Compliance Officer of Akme Fintrade, stated, “We are pleased to receive the loan sanction from Maanaveeya Development & Finance Private Limited. This loan will provide the financial backing needed to scale up our operations and deliver long-term value to our stakeholders. It aligns perfectly with our expansion strategy and enhances our ability to capitalize on new business opportunities.”
The loan agreement includes the following details:
- Loan Amount: Rs. 25,00,00,000 (Rs. 25 Crore)
- Lender: Maanaveeya Development & Finance Private Limited
- Purpose: To strengthen business operations and fund expansion plans
This development is expected to provide Akme Fintrade with the flexibility to grow its business and meet its financial objectives in the years ahead.
