In a significant development in the corporate acquisition landscape, Ramchandra Leasing and Finance Limited, a BSE-listed company, has announced that the Identified Date for its proposed open offer has been fixed as August 20, 2025. This announcement is crucial for the public shareholders of the Company because it determines the names of those eligible to receive the Letter of Offer pertaining to the acquisition of shares.

The proposed open offer is being made by Mr. Akhil Mittal (Acquirer 1) and Ms. Pratika Sharma (Acquirer 2), collectively referred to as the Acquirers, who intend to purchase 2,11,02,120 (Two Crore Eleven Lakhs Two Thousand One Hundred and Twenty) equity shares of face value ₹1 each. These shares represent 26% of the Emerging Voting Share Capital of Ramchandra Leasing and Finance Limited. This move is part of a strategic acquisition aimed at consolidating shareholding and expanding influence in the company.

The Identified Date is a key step in the process of an open offer as mandated under Regulation 18(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. It is used specifically to determine the shareholders as on that date who are eligible to receive the Letter of Offer, which provides comprehensive details about the offer, including the offer price, terms and conditions, and procedures for tendering shares. By fixing August 20, 2025 as the Identified Date, the Company ensures transparency and compliance with SEBI’s regulatory framework.

The open offer process has been managed by Rarever Financial Advisors Private Limited, which acts as the Manager to the Open Offer. As the managerial entity, Rarever Financial Advisors has been responsible for coordinating all procedural aspects of the open offer, ensuring that all statutory disclosures are made on time, and guiding both the Acquirers and the Company in compliance with SEBI guidelines.

The Letter of Offer is a vital document for shareholders, providing detailed information about the offer, including the rationale of the Acquirers, financial background, their intent for the Company post-acquisition, and the steps shareholders need to follow to participate. It also contains instructions on how public shareholders can tender their shares if they choose to accept the offer. By disseminating this document after the Identified Date, the Company maintains fairness and ensures that all eligible shareholders have access to critical information simultaneously.

This proposed acquisition and the open offer have drawn attention from investors, analysts, and market participants. Ramchandra Leasing and Finance Limited operates in the financial services sector, and the acquisition by the Acquirers represents a significant investment move, potentially influencing the governance and strategic direction of the Company. The open offer for 26% of the Emerging Voting Share Capital is a substantial portion, indicating the seriousness of the Acquirers in gaining meaningful control.

In compliance with SEBI regulations, all the previous steps leading up to the Identified Date have been meticulously followed. The Public Announcement was made on November 29, 2024, and the Detailed Public Statement was published on December 06, 2024, followed by the Draft Letter of Offer dated December 13, 2024. These disclosures ensure that shareholders have adequate notice and information about the open offer well in advance.

Once the Identified Date has passed, the Company, along with the Manager to the Open Offer, will send the Letter of Offer to all eligible shareholders. This step is essential to maintain transparency, fairness, and regulatory compliance as mandated under SEBI Substantial Acquisition of Shares and Takeover Regulations, 2011. Shareholders are encouraged to carefully review the document and consider their options before tendering shares.

This announcement also reinforces the importance of corporate governance and shareholder communication in India. Public disclosures like these are designed to protect shareholders’ interests and ensure that every step of the open offer process is conducted with full transparency. Market watchers are likely to monitor the response from shareholders and the ultimate acceptance level, which could indicate market confidence in the Acquirers and their strategic plans for the Company.

In conclusion, the announcement of August 20, 2025 as the Identified Date for the open offer by Mr. Akhil Mittal and Ms. Pratika Sharma for Ramchandra Leasing and Finance Limited marks a critical milestone in the acquisition process. With Rarever Financial Advisors Private Limited acting as the Manager to the Open Offer, the Company has taken all necessary steps to comply with SEBI regulations, ensure fair communication, and provide shareholders with sufficient information to make informed decisions. This open offer is not only a significant event for the Company but also an important update for investors, analysts, and market participants observing corporate acquisition trends in India.

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