Rita Finance and Leasing Limited Signs Strategic MOU to Acquire 45% Stake in Aaquaria Fincart

Rita Finance & Leasing Limited has entered into a strategic Memorandum of Understanding with Aaquaria Fincart Private Limited on 13th February, 2026, marking a significant expansion into advisory and debt syndication services. The MOU outlines the acquisition of a 45% equity stake in Aaquaria Fincart through a share swap arrangement, subject to regulatory approvals and valuation processes. Transaction Structure and Valuation The proposed acquisition will be executed through multiple modes to ensure optimal structure and regulatory compliance. The transaction framework includes both preferential allotment and share swap mechanisms. Transaction Parameter: Details Equity Stake: 45% of fully diluted share capital Primary Mode: Share swap arrangement Alternative Mode: Preferential allotment Valuation Authority: Independent SEBI-registered professionals MOU Validity: 3 months from effective date The valuation process will be conducted by independent SEBI-registered Merchant Bankers, Chartered Accountants, or Registered Valuers. Key valuation considerations include financial performance, client base assessment, brand value, existing business relationships, regulatory positioning, and market comparables. Share Pricing and Consideration Rita Finance has established clear pricing parameters for the equity shares to be issued under this arrangement. The company proposes to issue shares at a minimum price structure that ensures compliance with regulatory requirements. Pricing Component: Amount per Share Face Value: ₹10.00 Securities Premium: ₹13.00 Minimum Issue Price: ₹23.00 The share pricing remains subject to SEBI ICDR Regulations, Stock Exchange pricing norms, Companies Act 2013 provisions, and applicable RBI guidelines. The consideration will be discharged primarily through share swap, with no cash consideration currently contemplated. Strategic Business Rationale Aaquaria Fincart brings substantial value through its specialized financial services portfolio and established market presence. The company operates in debt syndication and financial advisory services with a comprehensive pan-India client base and strong relationships with banks and NBFCs. The strategic association enables Rita Finance to expand its business footprint across multiple financial service segments: Advisory services expansion Loan distribution network enhancement Debt syndication capabilities Pan-India client base access Banking and NBFC relationship leverage Governance and Management Framework Post-transaction completion, Rita Finance will secure proportional governance rights corresponding to its 45% shareholding. The governance structure includes board nomination rights, participation in strategic decisions, and comprehensive information and inspection rights. Detailed governance arrangements will be formalized through a separate Shareholders' Agreement. Regulatory Compliance and Approvals The transaction remains subject to comprehensive regulatory approval processes and due diligence completion. Required approvals span multiple regulatory authorities and internal governance processes. Approval Category: Requirements Board Approvals: Both company boards and shareholders Regulatory Bodies: SEBI, Stock Exchanges, RBI, ROC Due Diligence: Legal, financial, and tax assessment Documentation: Share swap and shareholders' agreements The MOU maintains a non-binding nature except for confidentiality, governing law, and dispute resolution clauses. Binding obligations will commence upon execution of definitive agreements following successful completion of all conditions precedent. Source: Rita Finance & Leasing Limited has announced a key leadership appointment, naming Mrs. Jenisha Het Shah as the company's new Chief Executive Officer. The appointment was approved by the Board of Directors on February 13, 2026, following recommendations from the Nomination and Remuneration Committee. Leadership Appointment Details The company has formally notified stock exchanges BSE Limited and Metropolitan Stock Exchange of India Limited about this strategic appointment in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Parameter: Details Appointee: Mrs. Jenisha Het Shah Position: Chief Executive Officer Appointment Date: February 13, 2026 Reason: New Appointment Relationship to Directors: Not related to any Director Professional Background and Expertise Mrs. Jenisha Het Shah brings substantial expertise in accounting and finance to her new role. She is an accomplished professional with strong academic credentials and extensive experience in corporate accounting, taxation, and financial management. Her background combines technical expertise with strategic financial insight and modern technology orientation. Key Professional Experience Mrs. Shah has wide experience in corporate accounting and has worked as a GST professional for multiple reputed industries, handling indirect tax compliance, advisory, and regulatory matters. Her practical exposure includes: Financial reporting and statutory compliance Audit coordination and management reporting functions Corporate accounting and financial management Taxation and regulatory advisory services Academic Excellence and Qualifications Mrs. Shah has demonstrated outstanding academic performance throughout her professional journey. She achieved distinguished results in CA Final examinations, securing top marks at the All India level in Financial Management and outstanding results in Direct Tax. Educational Qualifications: CA Final (Group II) Bachelor of Commerce (B.Com) Master of Commerce (M.Com) Core Competencies: Corporate Accounting & Financial Reporting Indirect Taxation (GST) & Direct Taxation Financial Management & Costing Statutory Audit & Compliance Corporate Communication Management Planning & Financial Strategy Technology and Future Focus Mrs. Shah is developing strong command over AI-oriented accounting systems and technology-driven financial planning tools. This expertise enables enhanced efficiency, analytics-driven decision-making, and forward-looking financial management capabilities. With her strong academic foundation, professional discipline, and strategic financial acumen, Mrs. Shah is positioned to lead the organization's financial and operational functions as Chief Executive Officer, focusing on governance, sustainable growth, regulatory compliance, and long-term stakeholder value creation. 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