The Company has issued a public notice in the Financial Express- (Ahmedabad Edition - both Gujarati and English language) in compliance with the requirements stipulated under the prior ....
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Ramchandra Leasing & Finance Ltd has published a public notice in Financial Express (Ahmedabad, English and Gujarati editions) on August 21, 2025, announcing a change in management and shareholding. This follows two RBI prior approvals: one for change in shareholding/control dated July 4, 2025, and one for change in management dated August 18, 2025. The notice discloses new promoters acquiring 58,84,500 equity shares (15.50% stake), with the existing promoter group exiting, and an open offer to public shareholders at Rs. 2.26 per share (against a floor price of Rs. 1.26). New directors are taking over the board. Notably, the company's net worth remains deeply negative at Rs. (30,219.60) lakhs and reserves are Rs. (30,547.81) lakhs as of March 31, 2025, indicating past financial distress, though it reported a net profit of Rs. 2,394.92 lakhs for Q4 FY25 versus a loss last year.
This is effectively a change-of-control event for an NBFC with a takeover and open offer to public shareholders at Rs. 2.26 per share. Existing shareholders should evaluate whether to tender shares in the open offer or hold on. The deeply negative net worth signals significant past stress, and the incoming management's plans will be critical for the company's revival.