Raama Finance Board Approves Borrowing Limit Enhancement and Up to Rs 100 Crore NCD Issuance
Raama Finance Ltd., formerly Ramchandra Leasing and Finance Limited, held a meeting of its Board of Directors on July 9, 2026. The Board considered and approved several significant corporate actions relating to financial scaling, asset management, and governance appointments.A key approval related to the company's borrowing capacity was the enhancement of borrowing limits up to an aggregate amount not exceeding Rs. 200 Crores (Rupees Two Hundred Crores only). This limit allows for the creation of charges on the movable and immovable properties of the Company. The Board authorized the creation of charges, mortgages, hypothecation, pledge, and other encumbrances on both present and future assets to secure borrowings and financial facilities up to Rs. 200 Crores in favor of various financial institutions, lenders, and investors.
To support its growth strategy, the Board also approved the issuance of Secured, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis for an aggregate amount not exceeding Rs. 100 Crore (Rupees One Hundred Crores only). The terms and conditions of the NCD issuance are subject to subsequent shareholder approval via Special Resolution through Postal Ballot.
Governance and Staffing Decisions
The Board reviewed and ratified several appointments and changes regarding the company’s leadership team:- Akhil Mittal: His appointment as an Additional Director (Non-Executive) since January 3, 2026, was regularized.
- Pratika Sharma: Her appointment as an Additional Director (Non-Executive), effective from January 3, 2026, was also regularized.
- Rohan Mehrotra: His confirmation as an Independent Director, appointed on February 13, 2026, was approved for a term of five consecutive years.
In addition to personnel matters, the Board considered and approved the adoption of a new set of Memorandum and Articles of Association, which is subject to shareholder approval through Postal Ballot. The meeting also addressed various other matters detailed in the draft notice for the upcoming Postal Ballot.
NCD Issuance Details
The company’s plan for the issuance of Secured, Redeemable, Non-Convertible Debentures (NCDs) was finalized by the Board and included the following details:| Particulars | Details |
|---|---|
| Type of securities proposed to be issued | Secured, Redeemable, Non-Convertible Debentures |
| Type of Issuance | Private Placement |
| Total Amount for issuance | Up to Rs. 100 Crores in one or more tranches |
| Size of the issue | Aggregate amount not exceeding Rs. 100 Crores |
| Tenure of the instrument | As may be determined by the Board/Committee at the time of each issuance |
| Purpose of Issue | Business purposes, including augmentation of long-term resources and refinancing existing liabilities |
The board also approved the appointment of Mr. Chandan Kumar Jha, a Practicing Company Secretary, as the Scrutinizer to conduct the postal ballot process for all matters detailed in the notice.
Stock Price Movement
Raama Finance Ltd shares closed at ₹16.83 on Thursday, marking a 1.98% decline from previous levels. The stock traded completely flat throughout the day, as its high and low remained locked at this price point.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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