Richfield Financial allots 14,110 NCDs of Series VI on private placement
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On the reaction day the stock moved 5.0 pts less than Nifty Microcap 250 and 4.6 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Richfield Financial Services has allotted 14,110 secured unlisted NCDs (Series VI) on private placement basis at Rs 1,000 each, raising about Rs 1.41 crore. The NCDs are offered in 5 options with tenures ranging from 400 days to 68 months. Coupon rates include 11.25 percent, 11.50 percent, and 12 percent fixed options paid monthly, plus two zero coupon cumulative options that pay back Rs 1,162 or Rs 2,000 on maturity.
Small fundraise of Rs 1.41 crore via secured NCDs at attractive high-yield rates. NCDs are backed by a first charge on company assets.