Allotment of 21,56,000 equity shares on preferential basis
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Richfield Financial Services has allotted 21,56,000 equity shares on a preferential basis to 78 allottees, mostly non-promoters, at a price of ₹25 per share (face value ₹10), raising approximately ₹5.39 crore. The largest single allottee is Ente Naadu Multi State Agro Cooperative Society Ltd, which received 8 lakh shares worth ₹2 crore. The allotment was approved at the board meeting held on March 10, 2026, following an EGM resolution passed on December 3, 2025 and BSE in-principal approval granted on February 25, 2026. Promoter V C Georgekutty also received 21,600 shares, marginally increasing his holding from 15.84% to 12.53% post-allotment (dilution effect). The company is classified under BSE scrip code 539435.
The preferential issue at ₹25 (a 150% premium to face value) brings in ₹5.39 crore of fresh capital but will result in dilution for existing shareholders. Existing promoter holding percentage reduces due to the expanded share base, and the stock may see short-term pressure due to the new shares entering the system.