Announcement under Regulation 30
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On March 10, 2026, the board of Richfield Financial Services approved the allotment of 21,56,000 equity shares on a preferential basis at ₹25 per share, raising about ₹5.39 crore in total. The shares were issued to 78 allottees, mostly non-promoters, with the largest single allotment being 8,00,000 shares to Ente Naadu Multi State Agro Cooperative Society Ltd; one promoter, V C Georgekutty, was allotted 21,600 shares. The board also approved a plan to raise up to ₹75 crore through subordinated debts in financial year 2026-27 to strengthen the company's borrowing base. Additionally, the books of accounts and corporate office have been shifted to Edappally, Kerala, while a separate move of the registered office to Chennai is awaiting a new CIN from MCA due to technical issues. The board also accepted the resignation of CFO Vishnu Sivan effective April 1, 2026, citing personal reasons.
Shareholders will see a small dilution of about 22% expansion of the equity base (at ₹25 per share versus a ₹10 face value), and the ₹75 crore debt plan signals the NBFC's intent to grow its lending book. The CFO exit and pending CIN change are administrative items but should be watched for any further management changes.