Allotment of Secured Redeemable Non Convertible Debentures (NCDs) Series IV on private placement basis.
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Richfield Financial Services has allotted 86,258 Secured Redeemable NCDs on a private placement basis at face value of Rs. 1,000 each, raising a total of approximately Rs. 8.63 crore. The NCDs were issued at par and are not proposed to be listed on any stock exchange. Investors were offered six options with tenures ranging from 400 days to 68 months and coupon rates between 11.25% and 12.00% (fixed simple) for interest-bearing options, plus two zero-coupon cumulative options. The instruments are secured by a first-ranking pari passu charge on all movable assets including book debts, receivables, cash, bank balances, loans, and advances. The Finance Committee approved the allotment at its meeting held on August 23, 2025.
This is a small debt raise of Rs. 8.63 crore from private investors, which will strengthen the company's funding base. Since the NCDs are not listed, existing retail shareholders face no dilution, but the high coupon rates (up to 12%) indicate a relatively expensive borrowing cost.