Ramchandra Leasing & Finance Ltd — Important, 01-01-1970: Company Update

Acquirers Mr. Akhil Mittal and Ms. Pratika Sharma have issued an update for their Open Offer to acquire 2.11 Cr equity shares of Ramchandra Leasing and Finance, representing 26% of the emerging voting share capital. The revised Offer Price is ₹ 2.37 per share, payable in cash, which includes an interest component of ₹ 0.11 per share due to a delay in payment caused by the time taken to receive RBI approval for change in management and control. The Committee of Independent Directors views the offer price as fair and reasonable. RBI approval for the change in management and share acquisition has been received. The total fund requirement for the offer is ₹ 4.98 Cr, with acquirers depositing ₹ 1.25 Cr in the escrow account.