The Company has received in-principle approval from BSE Limited vide its letter dated March 09, 2026 for Issuance of 11,40,00,000 warrants at an issue price of INR 4.80/- per warrant .
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Ramchandra Leasing & Finance Ltd has received in-principle approval from BSE to issue 11,40,00,000 (11.4 crore) convertible warrants on a preferential basis. Each warrant will be issued at a price of not less than INR 4.80 and is convertible into one equity share of face value INR 10. The warrants will be allotted to promoters and non-promoter groups. The total potential fund raise, if all warrants are subscribed and later converted into equity, is approximately INR 54.72 crore. The company still needs to complete the allotment and file a separate listing application post-allotment, along with complying with SEBI ICDR Regulations.
If all warrants are converted into equity shares, the company's share count will expand significantly, leading to dilution for existing shareholders. The move could bring in fresh capital of around INR 54.72 crore, but investors should watch for any post-allotment share price pressure due to the increased float and the low warrant issue price relative to the face value.