Richfield Financial Services Approves Private Placement of Rs 15 Crore Worth of Non-Convertible Debentures
Richfield Financial Services Ltd announced that its Board of Directors approved plans to raise funds through a private placement of Non-Convertible Debentures (NCDs). The approval was made during the board meeting held on April 17, 2026.The company plans to issue a total of 1,50,000 Nos. Secured Redeemable Series V Non-Convertible Debentures (NCDs), each valued at Rs. 1,000. This issuance aggregates to a total fund size of Rs. 15,00,00,000/-, or Fifteen Crore Rupees. The funds are slated to be raised via Private Placement in one or more tranches to identified persons.
The details regarding the proposed fund raising and the securities structure were released following the board meeting.
NCD Issuance Details
The NCDs proposed for the issue are Secured, Unlisted, Redeemable, Non-Cumulative, and Series V Non-Convertible Debentures. The total size of the issue is set at Rs. 15 Crore.Key dates associated with the transaction include a deemed date of allotment of May 20, 2026. The security for the NCDs will be created via Hypothecation/Pledge in favour of the Debenture Trustee. The redemption of the debentures will be made out of Profits or Fresh Issue.
Investor Options and Tenure
The board approved the proposal offering multiple options for the NCDs, detailing various tenures, interest rates, and repayment schedules.The payment options available are summarized below:
| Option | Scheme | Tenure | Rate of Interest | Schedule of Payment of Coupon/Interest and Principal |
|---|---|---|---|---|
| Option 1 | Monthly | 400 days | 11.25% | First day of every month from the month succeeding the date of allotment |
| Option 2 | Cumulative | 16 months | - | On maturity |
| Option 3 | Monthly | 2 Years | 11.50% | First day of every month from the month succeeding the date of allotment |
| Option 4 | Monthly | 3 Years | 11.75% | First day of every month from the month succeeding the date of allotment |
| Option 5 | Monthly | 5 Years | 12.00% | First day of every month from the month succeeding the date of allotment |
| Option 6 | Doubling | 68 Months | - | On maturity |
Stock Price Movement
Richfield Financial Services Ltd settled at ₹29.43 on Tuesday, shedding 4.97% for the session. Shares ranged significantly throughout the day, swinging from a high of ₹31.27 down to ₹29.43.Source:
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