Corrigendum to Notice of EGM dated November 6, 2025 for the EGM held on December 3, 2025
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Richfield Financial Services has issued a corrigendum to its EGM notice (originally dated November 6, 2025 for the EGM held on December 3, 2025) following observations from BSE Limited regarding the proposed preferential issue of equity shares. The number of shares to be issued has been reduced from 40,00,000 to 34,42,000, lowering the total issue size from ₹10 crore to ₹8,60,50,000 at ₹25 per share. The list of proposed allottees has been trimmed from 139 to 112 (with 27 names removed), including one promoter allottee (V C Georgekutty for 40,000 shares). The minimum issue price under SEBI ICDR Regulations has been revised upward from ₹23.97 to ₹24.26 per share, though the actual issue price of ₹25 remains compliant. Post-issue promoter shareholding will stand at approximately 32.94%, with total issued share capital increasing from 75,00,200 to 1,09,42,200 shares.
The smaller-than-originally-planned preferential issue (about 14% reduction in size) means less equity dilution for existing shareholders than initially proposed, though dilution of roughly 46% still applies. The revisions ensure regulatory compliance with SEBI ICDR norms and BSE observations, removing some uncertainty for shareholders ahead of the EGM.