Raama Finance

Raama Finance allotted 10,150,000 fully paid equity shares of Re1 each upon conversion of an equal number of warrants priced at Rs4.80 per warrant. The warrant holders paid the Rs3.60 balance per warrant, and paid-up capital rose to 101,012,000 shares from 90,862,000 shares. It was the second conversion in just over a month after the allotment of 9,700,000 shares on 22 September 2026, following the allotment of 11.40 million warrants in March 2026. The company was an RBI-registered base-layer non-deposit-taking NBFC that operated the FastSalary digital short-term salaried credit platform, with a loan book of Rs24.87 crore at 31 March 2026 and total income of Rs21.31 crore in the June quarter. The board also recommended Kumar Gaurav and Co as statutory auditor to fill the casual vacancy from the resignation of Goyal Nagpal and Co effective 6 October 2026, to hold office until the 34th annual general meeting in 2027.

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Raama Finance allotted 4,610 unlisted, unrated, secured, redeemable non-convertible debentures of Rs10,000 each, aggregating Rs4.61 crore under Series A on a private placement basis. The debentures carried an 18-month tenure from 22 September 2026, a 20% per annum coupon payable monthly, principal on maturity and a 125% receivables cover, with CTL Trusteeship Limited as trustee. The board also allotted 97 lakh equity shares of Re1 each upon conversion of an equivalent number of warrants issued at Rs4.80 each, after receiving the Rs3.60 balance per warrant aggregating Rs3.49 crore, taking paid-up capital to 9.09 crore shares. Rajesh Singh Kaira relinquished his role as managing director with effect from 22 September 2026 and was redesignated as a non-executive, non-independent director from 23 September. The company ran FastSalary, a digital short-term personal credit platform for salaried individuals, with a loan book of Rs24.87 crore at 31 March 2026 and cumulative disbursements of over Rs35 crore to more than 9,000 customers. It reported total income of Rs12.13 crore and net profit of Rs3.24 crore for the year to March 2026, followed by income of Rs21.31 crore and net profit of Rs4.35 crore in the June 2026 quarter. The warrants had been allotted in March 2026 with 25% paid up, and shareholders had approved headroom for up to Rs100 crore of secured unlisted non-convertible debentures. Jitendar Prasad was appointed chief executive officer with effect from 22 September 2026.

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Raama Finance approved a private placement of up to ₹5 crore of 5,000 unlisted, unrated, secured and redeemable non-convertible debentures, carrying a 20% annual coupon payable monthly and maturing 18 months after allotment. The debentures will have 125% security cover over eligible receivables, and Catalyst Trusteeship was appointed as debenture trustee. The company also appointed Jitendar Prasad as chief executive officer and key managerial personnel, effective September 22; he had more than 24 years of experience in mortgage and retail financial services, including leadership of portfolios exceeding ₹18,200 crore. Raama Finance reported FY26 total income of ₹12.13 crore and had a ₹24.87 crore loan book at March 31, 2026.

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Sept 22 (Reuters) - Raama Finance Ltd RAAA.BO:

• APPROVES ISSUE OF NCDS WORTH UP TO 50 MILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text: ID:nBSE45lpbr

Further company coverage: RAAA.BO

(Reporting by Anushka Rajvedi)

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Raama Finance Limited’s board of directors approved a proposal to issue secured, redeemable, non-convertible debentures (NCDs) on a private placement basis, targeting an aggregate amount not exceeding ₹100 crores. The fundraising plan will be placed before shareholders for final approval by way of a special resolution through postal ballot. In addition, the board gave its nod to enhance the company’s overall borrowing limit to ₹200 crores and authorized the creation of charges on assets to secure such borrowings. These enabling resolutions, along with the NCD issuance, signal a major push to scale up the company’s debt-funded lending activities, pending investor consent.

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Nov 26 (Reuters) - Ramchandra Leasing and Finance Ltd RALF.BO:

• RAMCHANDRA LEASING AND FINANCE - TO CONSIDER ISSUE OF SHARES VIA PRIVATE PLACEMENT

Further company coverage: RALF.BO

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