Dear Sir/Madam, We would like to inform that the BSE Limited have granted in-principle approval with regard to issue of 34,42,000 equity shares of Rs. 10 each at a price not less than ....

Richfield Financial Services has received in-principle approval from BSE to issue 34,42,000 equity shares of Rs. 10 each at a price of not less than Rs. 25 per share to promoter and non-promoter categories on a preferential basis. The issue price represents a minimum premium of Rs. 15 (150%) over the face value. At the floor price, the company would raise approximately Rs. 8.6 crore through this preferential allotment. This is a regulatory clearance from BSE, and the company still needs to complete the actual allotment and file for listing within 20 days of allotment. The company has been advised to obtain undertakings from allottees confirming no intra-day trading or sale of shares till the allotment date.