Raama Finance Ltd. (RLFL) — Tipsheet

Raama Finance plans ₹100 cr NCD issue, borrowing limit raised to ₹200 cr

Tipsheet Editorial — Thu, 09 Jul 2026 18:56:33 GMT

The nano-cap NBFC, boosting scale after a revenue surge, seeks to raise debt exceeding 70% of its market cap. Shareholders vote via postal ballot.

What’s new

Board approved ₹100 cr NCD private placement, subject to shareholder postal ballot
Total borrowing limit enhanced to ₹200 cr; charges on assets authorized

Why it matters

For a company with a market cap of ₹139 cr and a debt/equity of just 0.06, a ₹100 cr debt raise would transform its balance sheet. After revenue jumped from ₹37.63 lakhs to ₹12.06 cr in FY26, RLFL is betting it can deploy this capital into lending. The risk: debt multiplies both returns and losses.

What we’re watching

Shareholder approval via special resolution in postal ballot
Coupon rate and placement timeline of the NCDs
Growth in loan book against the expanded borrowing capacity

The full read

Raama Finance, a nano-cap NBFC with a market cap of just ₹139 cr and a trailing P/E of 50.5, is asking shareholders to approve a ₹100 cr NCD private placement. That is over 70% of its current market value and roughly eight times its ₹12.06 cr annual revenue. The board also raised the total borrowing limit to ₹200 cr — a big step up from the current debt of ₹68 lakhs (debt/equity 0.06). The company's revenue exploded from ₹37.63 lakhs in FY25 to ₹12.06 cr in FY26. Now management wants to fund that growth with debt. Shareholders vote by postal ballot. If approved, RLFL's balance sheet will be transformed. The bet: that the revenue trajectory continues and the NCD coupon is low enough to generate healthy spreads. The risk: that debt multiplies the downside just as fast.

Primary source: BSE · NSE

Raama Finance went from ₹37 lakh revenue to ₹12 crore in a year.

Tipsheet Editorial — Fri, 29 May 2026 21:42:35 GMT

The nano-cap NBFC’s net profit jumped to ₹3.24 crore in FY26 as interest income scaled up dramatically. Q4 alone delivered ₹2.63 crore in profit.

What’s new

Annual revenue climbed to ₹12.06 crore from just ₹37.63 lakhs in FY25.
Net profit for the year surged to ₹3.24 crore, versus ₹1.50 lakhs previously.
Q4 delivered ₹9.63 crore in revenue and ₹2.63 crore in profit.

Why it matters

This is a nano-cap with a ₹115 crore market value that just posted a full-year profit of ₹3.24 crore and a Q4 run-rate that dwarfs its entire prior year. The scale-up implies recently raised capital has been rapidly deployed into interest-earning assets.

What we’re watching

Whether the Q4 revenue run-rate of ₹9.63 crore holds through FY27.
How the new Risk Management Committee shapes future capital deployment.
If the auditor change brings any shift in reporting or controls.

The full read

Raama Finance's annual revenue jumped to ₹12.06 crore from a negligible ₹37.63 lakhs in FY25. The net profit for the year surged to ₹3.24 crore, versus just ₹1.50 lakhs in the prior year. The growth was sharply concentrated in the final quarter, which delivered ₹9.63 crore in revenue and ₹2.63 crore in profit. For a nano-cap NBFC with a market valuation of only ₹115 crore, the scale-up in interest income is stark. It implies capital raised recently has been rapidly put to work. The board also shuffled governance, appointing a new internal auditor and setting up a Risk Management Committee to meet RBI norms. Thirty-fold revenue growth in one year is rare. The real story is how fast the company's fundamentals have changed profile.

Primary source: BSE · NSE