Rarever Financial Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement under Regulation 18(7) ....

Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.8%Reaction day

₹6.02

prior close

₹6.03

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.7%-2.2% vs market

Non Banking Financial Company (NBFC) peers, median of 199sector+0.0%-2.8% vs sector

On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 2.8 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.3

10m

-6.3

15m

-0.5

30m

-2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.8-0.7-2.2+0.0-2.8

Next day

-10.6-0.7-10.0+0.0-10.6

-14.8-0.2-14.6-0.1-14.6

-18.9-0.1-18.9+0.0-18.9

-19.1+0.4-19.5-0.2-18.9

-23.1+0.3-23.4-0.1-23.0

-30.6+1.0-31.5-0.2-30.4

15d

-12.5-0.2-12.3-0.7-11.8

-20.4-1.2-19.3-1.4-19.1

+5.3+0.6+4.7+0.0+5.3

+82.4-4.3+86.7-4.0+86.4

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 199Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Acquirers Mr. Akhil Mittal and Ms. Pratika Sharma have issued a pre-offer advertisement and corrigendum for an open offer to acquire 2,11,02,120 equity shares (26% of voting share capital) of Ramchandra Leasing & Finance Ltd at ₹2.36 per share (₹2.26 offer price + ₹0.10 interest), aggregating to about ₹4.98 crore. The offer was delayed by 165 days due to time taken in receiving RBI approval for change in management and shareholding, for which SEBI has directed the acquirers to pay 10% per annum interest. RBI approvals were received in July 2025 (for share acquisition) and August 2025 (for change in management). The Independent Directors Committee has opined that the offer price is fair and reasonable. The revised tendering period runs from September 4, 2025 to September 18, 2025, with payment scheduled for October 3, 2025.

Likely market impact

This is a mandatory open offer triggered by a change in management control of the NBFC, giving public shareholders a chance to exit at ₹2.36/share. The small offer size (₹4.98 crore) and low offer price relative to limited trading volumes mean liquidity is the main benefit for shareholders; the company's financials show declining revenue (₹37.63L in FY25 vs ₹47.23L in FY23) and thin profits, so this is more of a control change event than a value-accretive offer.