Raama Finance has allotted ₹5 crore in non-convertible debentures (NCDs) on a private placement basis. The board meeting held on September 22, 2026, also approved the appointment of Jitendar Prasad as Chief Executive Officer.

The issuance forms part of the broader ₹100 crore limit authorized by shareholders via postal ballot in August 2026. This specific tranche consists of unlisted, unrated, secured, redeemable NCDs with a face value of ₹10,000 each. The instruments carry a high yield of 20% per annum, with interest paid monthly and principal repayable upon maturity.

NCD Issuance Details

The board approved the issue of 5,000 debentures under Series "A". Key terms disclosed in the regulatory filing include:

The NCDs are secured by way of creating a charge of 125% of the debenture amount over the company's receivables, except those exclusively charged to existing holders. Catalyst Trusteeship Limited has been appointed as the debenture trustee for this instrument.

Leadership Change

In a separate resolution, the board appointed Jitendar Prasad as CEO and Key Managerial Personnel (KMP) with effect from September 22, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee.

Prasad brings over 24 years of experience in banking and housing finance. His profile highlights extensive expertise in mortgage portfolios, retail financial services, and distribution networks. Prior to this role, he held senior leadership positions at CSB Bank, L&T Finance, PNB Housing Finance, Barclays Bank, and ICICI Bank. He has managed mortgage assets under management (AUM) exceeding ₹18,200 crore and monthly disbursements above ₹500 crore in previous roles.

Regulatory Context

The company filed the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action updates the prior intimation regarding the board meeting scheduled for September 22, 2026, to consider the terms and allotment of these debt instruments.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE516P01015/fadceb1c-1675-496b-bdf4-b6092db2e871.pdf

Raama Finance has scheduled its 33rd Annual General Meeting for September 30, 2026. The meeting will be conducted via video conferencing to transact ordinary business, including the adoption of audited financial statements for FY26.

The company will hold the register of members closed from September 24, 2026, to September 30, 2026. Shareholders on record as of September 24, 2026, are eligible to vote. The board seeks reappointment of director Akhil Mittal, who retires by rotation.

Key Dates and Voting Details

National Securities Depository Limited (NSDL) will facilitate the e-voting process. Members can cast votes remotely during the specified window or via the NSDL portal on the day of the meeting. Those who vote remotely cannot vote again during the live session.

Business to be Transacted

The ordinary business includes:

• Adoption of standalone financial statements for the year ended March 31, 2026.
• Reappointment of Mr. Akhil Mittal as a director liable to retire by rotation.

The meeting will follow SEBI and Ministry of Corporate Affairs guidelines for virtual gatherings. Participation is limited to 1,000 members on a first-come, first-served basis, excluding large shareholders and institutional investors.