Allotment of Series V Issue of Non-Convertible Debentures on private placement.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Richfield Financial Services Ltd allotted 14,600 Secured Redeemable NCDs at Rs. 1,000 each, raising Rs. 1.46 crore. The issue was issued on a preferential basis to identified allottees and will not be listed on any stock exchange. Four options were offered: Option I at 11.25% coupon for 400 days, Option II as a zero-coupon cumulative instrument maturing September 2027, Option III at 11.50% coupon for 2 years, and Option IV at 12% coupon for 5 years. Interest payments are monthly. The NCDs are secured by a first-ranking pari passu charge on the company's movable assets including book debts, receivables, and cash balances.
The NCD issuance of Rs. 1.46 crore provides debt funding for the company. The highest yield of 12% suggests the company may be perceived as higher risk by investors, though the secured nature with asset coverage provides some protection.