Raama Finance Limited Allots 11.40 Crore Convertible Warrants Worth ₹54.72 Crores
Raama Finance Limited completed allotment of 11,40,00,000 convertible warrants worth ₹54.72 crores on March 17, 2026, to 27 investors at ₹4.80 per warrant. Major allottees include promoter Akhil Mittal and DS Family Office Trust with 75,00,000 warrants each, while SKG Assets Management Pvt Ltd received the largest allocation of 2,00,00,000 warrants. The warrants carry 18-month conversion period with 25% subscription amount received upfront.
*this image is generated using AI for illustrative purposes only.
Raama Finance Limited has announced the successful allotment of 11,40,00,000 convertible warrants worth ₹54.72 crores on March 17, 2026. The preferential issue was conducted at ₹4.80 per warrant, with each warrant convertible into one equity share of face value Re. 1 each.
Warrant Allotment Details
The company received BSE's in-principle approval letter no. LOD/PREF/HC/FIP/1831/2025-26 dated March 09, 2026, following shareholder approval at the Extra-Ordinary General Meeting held on November 21, 2025. The warrants were allotted to 27 investors comprising promoters, promoter group, and public investors.
| Parameter: | Details |
|---|---|
| Total Warrants Allotted: | 11,40,00,000 |
| Issue Price per Warrant: | ₹4.80 |
| Total Issue Size: | ₹54.72 crores |
| Subscription Amount (25%): | ₹1.20 per warrant |
| Exercise Price (75%): | ₹3.60 per warrant |
| Conversion Period: | 18 months from allotment |
Major Allottees and Distribution
The warrant allocation spans across promoter and non-promoter categories, with significant participation from institutional and individual investors:
Promoter Category
| Allottee: | Warrants Allotted | Consideration Received (₹) |
|---|---|---|
| Akhil Mittal: | 75,00,000 | 90,00,000 |
| DS Family Office Trust: | 75,00,000 | 90,00,000 |
Major Non-Promoter Allottees
| Allottee: | Warrants Allotted | Consideration Received (₹) |
|---|---|---|
| SKG Assets Management Pvt Ltd: | 2,00,00,000 | 2,40,00,000 |
| Rahul Sharma: | 1,40,00,000 | 1,68,00,000 |
| SKG Assets and Holdings Pvt Ltd: | 1,00,00,000 | 1,20,00,000 |
| Equities First Ventures LLP: | 80,00,000 | 96,00,000 |
| Agro Trade Solutions: | 50,00,000 | 60,00,000 |
Post-Conversion Shareholding Impact
Upon full conversion of warrants, the shareholding pattern will witness significant changes. Akhil Mittal's holding will increase from 2,22,89,981 shares (27.46%) to 2,97,89,981 shares (15.26%), while DS Family Office Trust will acquire 75,00,000 shares representing 3.84% stake. SKG Assets Management Pvt Ltd will emerge as a major shareholder with 10.25% holding post-conversion.
Regulatory Compliance and Terms
The convertible warrants are issued in electronic form and subject to lock-in provisions as per SEBI ICDR Regulations 2018. Each warrant entitles the holder to apply for one equity share upon payment of the remaining 75% of the issue price within 18 months from the allotment date.
The warrants must be exercised within the 18-month tenure, failing which they will lapse and the subscription amount will be forfeited by the company. The pricing and conversion terms comply with Chapter V of SEBI ICDR Regulations and have been structured for cash consideration.
Financial Structure
The company has received 25% of the total consideration amounting to ₹13.68 crores at the time of allotment, with the balance ₹41.04 crores payable upon warrant exercise. This capital raising initiative strengthens the company's financial position while providing flexibility to warrant holders for conversion timing within the stipulated period.
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