Richfield Financial Services to Acquire Loan Portfolio Worth Up To Rs. 7 Crore from KLM AXIVA FINVEST
Richfield Financial Services Limited has approved the acquisition of a loan portfolio, valued up to Rs. 7 Crore, from KLM AXIVA FINVEST LIMITED. The transaction details confirm the purchase of the portfolio, which includes the assigned receivables, all associated collateral, and the underlying Security Interest.The acquisition, which is set to occur in one or more tranches, involves the transfer of the loan portfolio from KLM AXIVA FINVEST LIMITED to Richfield Financial Services Limited.
Key details of the agreement include:
| Detail | Information |
|---|---|
| Acquirer | Richfield Financial Services Limited |
| Seller | KLM AXIVA FINVEST LIMITED |
| Transaction Size | Upto Rs. 7 Crore |
| Nature of Acquisition | Acquisition of loan portfolio |
Significant terms of the agreement state that Richfield Financial Services Limited will acquire from KLM AXIVA FINVEST LIMITED the Assigned Receivables, along with the Underlying Documents, all rights, benefits, powers, guarantees, indemnities, title, and interest therein. The acquisition also covers all collateral and underlying Security Interest created to secure the repayment of the Facilities comprising the Assigned Receivables.
The transaction was affirmed to be at arm's length, and the company confirmed that there is no relationship between the parties that would constitute a related party transaction.
Stock Price Movement
As of 11:47, shares of Richfield Financial Services Ltd. are ticking down at ₹19.76, following a 4.95% dip from its previous close. The stock has seen significant intraday movement, having fluctuated between the high of ₹21.40 and settling now at the low mark of ₹19.76.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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