The Board of directors in its meeting held today had approved the allotment of preferential issue of shares and other matters.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Richfield Financial Services Ltd, at its meeting on March 10, 2026, approved the allotment of 21,56,000 equity shares on a preferential basis at Rs. 25 per share, aggregating to Rs. 5.39 crore. The shares were issued to 78 allottees, almost entirely non-promoters, with the largest single allottee being Ente Naadu Multi State Agro Cooperative Society Ltd, which received 8 lakh shares (Rs. 2 crore). The face value of the shares is Rs. 10, implying an issue price at a premium of Rs. 15 per share. Separately, the board approved raising up to Rs. 75 crore through subordinated debentures in FY 2026-27, changed the address for maintaining books of accounts, and noted the resignation of CFO Mr. Vishnu Sivan effective April 1, 2026 due to personal reasons.
The preferential allotment of Rs. 5.39 crore will result in share dilution but strengthens the company's capital base modestly. The larger Rs. 75 crore subordinated debt plan is a more meaningful fundraising move and may support lending growth. The CFO exit is a key management change that investors should watch for a timely replacement announcement.