Raama Finance seeks e-voting on ₹100 crore NCDs
Raama Finance Limited has launched a remote e-voting process to approve raising its borrowing limit to ₹200 crore and issuing secured NCDs worth up to ₹100 crore. The voting period is open from July 11, 2026, to August 09, 2026, with results due by August 11, 2026. The company also seeks approval for asset charges, governance updates including new Memorandum and Articles of Association, and the regularisation and confirmation of directors.
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Raama Finance Limited has initiated a remote e-voting process seeking shareholder approval to raise its borrowing limits to ₹200 crore and issue secured, redeemable Non-Convertible Debentures (NCDs) worth up to ₹100 crore. The voting period commenced on July 11, 2026, and will conclude on August 09, 2026, with results expected to be declared on or before August 11, 2026. These measures are intended to augment the company's long-term resources and support lending operations.
The board, at its meeting held on July 09, 2026, approved the enhancement of borrowing powers under Section 180(1)(c) of the Companies Act, 2013. The proposal includes authorizing the creation of mortgages and hypothecations on movable and immovable properties up to the enhanced limit to secure existing and future borrowings. The company has engaged National Securities Depository Limited (NSDL) to facilitate the electronic voting process.
Key Resolutions
| Agenda Item | Details |
|---|---|
| Borrowing Limit Enhancement | Up to ₹200 crore under Section 180(1)(c) of the Companies Act, 2013 |
| NCD Issuance | Secured, redeemable NCDs up to ₹100 crore via private placement |
| Asset Charges | Creation of charges on movable and immovable properties up to ₹200 crore |
The proposed NCDs will be issued in one or more tranches over a period of one year from the date of the resolution. Specific tenor, coupon rates, and redemption terms will be determined by the board based on market conditions at the time of issuance. The instruments will remain unlisted on any stock exchange. Proceeds from the issue are earmarked for business purposes, including lending activities, refinancing of existing liabilities, and general corporate purposes.
Governance matters form a significant part of the postal ballot, with the company seeking approval for the adoption of a new set of Memorandum of Association and Articles of Association to align with the Companies Act, 2013. Additionally, the notice includes resolutions for the regularisation of Mr. Akhil Mittal and Mrs. Pratika Sharma as Non-Executive Directors, and the confirmation of Mr. Rohan Mehrotra as an Independent Director for a term of five years effective February 13, 2026. Mr. Chandan Kumar Jha has been appointed as the scrutinizer for the process.
How will the company utilize the increased borrowing limits to expand its lending portfolio in the current economic climate?
What impact will the issuance of unlisted NCDs have on Raama Finance's cost of capital compared to other funding sources?
What strategic initiatives are planned by the newly regularized and confirmed directors to drive growth?
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