Rarever Financial Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Advertisement under Regulation 18(12) in terms of the SEBI (Substantial Acquisition ....
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Awaiting price reaction for this filing.
Mr. Akhil Mittal and Ms. Pratika Sharma (the Acquirers) have completed the open offer for Ramchandra Leasing and Finance, an RBI-registered NBFC, buying 86,95,463 shares (10.71% of equity) at ₹2.36 per share, for a total payout of about ₹2.05 crore. This was part of a larger change-of-control transaction, which also includes a Share Purchase Agreement for 58,84,500 shares (7.25%) and a preferential allotment of 3,00,00,000 shares (44.21%). The open offer was undersubscribed — only about 41% of the 2.11 crore shares on offer were tendered. After all three components, the Acquirers' combined holding rises from 44.21% to 54.93%, giving them majority control and making them the new promoters of the company, while the existing promoter will be reclassified out of the promoter group. RBI approvals for change in management of the NBFC were received in July and August 2025.
Control of the listed NBFC has effectively shifted to Mr. Akhil Mittal and Ms. Pratika Sharma, with public shareholding dropping to 45.07%. The low tendering response suggests public shareholders were not enticed by the ₹2.36 offer price; going forward, investors should expect the new management to set the strategic direction of the company.