Ramchandra Leasing & Finance is set to undergo a significant ownership change as an open offer for a substantial stake in the company has been announced. The offer, targeting 26% of the company's emerging voting share capital, marks a potential shift in the company's ownership structure and governance.

Open Offer Details

The open offer, announced on November 29, 2024, aims to acquire 2,11,02,120 equity shares of Ramchandra Leasing & Finance. These shares, each with a face value of ₹1.00, represent 26% of the company's emerging voting share capital. The acquirers behind this move are Mr. Akhil Mittal and Ms. Pratika Sharma.

Key Dates and Management

Several important dates have been set for this open offer process:

The identified date is crucial as it determines the shareholders eligible to receive the Letter of Offer. Rarever Financial Advisors Private Limited has been appointed as the manager for this open offer, overseeing the process and ensuring compliance with regulatory requirements.

Regulatory Compliance

In adherence to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, the company has formally notified the BSE Limited about the open offer and its details. This notification, dated August 19, 2025, was signed by Richi M Shah, Director of Rarever Financial Advisors Private Limited, emphasizing the company's commitment to transparency and regulatory compliance.

Implications for Shareholders

This open offer presents a significant opportunity for the existing shareholders of Ramchandra Leasing & Finance. Those holding shares as of the identified date will be eligible to participate in the offer, potentially allowing them to monetize their investment at the offer price.

The outcome of this open offer could lead to a substantial change in the company's ownership structure, potentially influencing its future strategic direction and operations. Shareholders and market observers will be keenly watching the developments as the process unfolds.

As the open offer progresses, more details are expected to emerge, including the offer price and the acquirers' plans for the company post-acquisition. Stakeholders are advised to stay informed and consult with their financial advisors to make informed decisions regarding their holdings in Ramchandra Leasing & Finance.

Ramchandra Leasing & Finance Ltd (RLFL), a non-banking financial company, has received a green light from the Reserve Bank of India (RBI) for a significant management change. The approval, granted on August 18, 2025, marks a pivotal moment for the company as it prepares to reshape its leadership structure.

RBI Approval Details

The RBI's approval came through a letter dated August 18, 2025, aligning with the Master Direction for Non-Banking Financial Companies. This regulatory clearance paves the way for RLFL to proceed with its planned management restructuring, which primarily involves the appointment of new directors to the company's board.

Regulatory Compliance

In a filing to the BSE Limited, RLFL disclosed that the management change adheres to the provisions outlined in the Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, along with other applicable RBI guidelines.

Next Steps

While the RBI has given its approval, the effective date for the new appointments remains to be determined. RLFL has stated that it will communicate the exact timing of these changes in due course. Furthermore, the company is set to undertake necessary filings with the Ministry of Corporate Affairs and other regulatory bodies to formalize the management transition.

Market Impact

The news of this management change could potentially influence investor sentiment towards RLFL. As a listed entity on the BSE, market participants will likely keep a close eye on how this leadership transition unfolds and its implications for the company's future direction.

Company's Statement

Pradeep Saremal Jain, the Whole Time Director of Ramchandra Leasing & Finance Ltd, signed off on the regulatory filing, emphasizing the company's commitment to transparency and compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This management change represents a significant development for Ramchandra Leasing & Finance Ltd, potentially setting the stage for new strategies and directions in its operations within the non-banking financial sector.