Raama Finance approves ₹5 Cr NCDs & appoints new CEO
Raama Finance Ltd's Board of Directors, in a meeting held on September 22, 2026, approved the issuance of Unlisted, Unrated, Secured, Redeemable, Non-Convertible Debentures (NCDs) on a private placement basis. The company has a total corpus approval for NCDs not exceeding ₹100 Crores over one year. Initially, Series A NCDs aggregating to ₹5 Crores (5,000 NCDs of ₹10,000 each) were approved. These NCDs will have a tenure of 18 months from the allotment date, offering a 20% P.A. coupon/interest paid monthly, with principal repayment upon maturity. The NCDs are secured by a charge of 125% of the debenture amount over receivables, and Catalyst Trusteeship Limited has been appointed as the Debenture Trustee. Additionally, the Board approved the appointment of Mr. Jitendar Prasad as the Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective September 22, 2026.
Key Highlights
- Board approved issuance of NCDs up to ₹100 Cr via private placement.
- Initial Series A NCDs worth ₹5 Cr approved, with 20% annual interest.
- NCDs are secured, unlisted, unrated, and redeemable in 18 months.
- Mr. Jitendar Prasad appointed as the new CEO and KMP.
Price Impact
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