News Corporate Actions Richfield Financial Services Receives BSE In-Principle Approval for 34.42 Lakh Equity Shares on Preferential BasisRichfield Financial Services Receives BSE In-Principle Approval for 34.42 Lakh Equity Shares on Preferential Basis
Richfield Financial Services Limited received BSE in-principle approval for issuing 34,42,000 equity shares of Rs. 10 each at minimum Rs. 25 per share to promoters and non-promoters on preferential basis. The February 26, 2026 approval requires strict regulatory compliance including obtaining allottee undertakings against intra-day trading and submitting listing applications within twenty days of allotment. BSE emphasized this approval doesn't guarantee automatic listing and mandates separate compliance procedures.
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Richfield Financial Services Limited has secured in-principle approval from BSE Limited for issuing equity shares on a preferential basis, marking a significant step in the company's capital raising initiative. The approval was formally communicated on February 26, 2026, through regulatory filings under SEBI compliance requirements.
Preferential Issue Details
The BSE has granted approval for the company to issue equity shares to both promoter and non-promoter categories under specific terms and conditions.
| Parameter: | Details |
|---|---|
| Number of Shares: | 34,42,000 equity shares |
| Face Value: | Rs. 10 per share |
| Issue Price: | Not less than Rs. 25 per share |
| Category: | Promoter and non-promoter |
| Regulatory Framework: | Regulation 28(1) of SEBI LODR 2015 |
Regulatory Compliance Requirements
BSE has emphasized that the approval should not be construed as automatic listing approval, requiring separate compliance for listing procedures. The company must adhere to multiple regulatory frameworks including Companies Act 2013, Securities Contracts Regulation Act 1956, SEBI Act 1992, and Depositories Act 1996.
The exchange has specifically mandated compliance with Chapter V of SEBI ICDR Regulations 2018 and LODR Regulations 2015. Additionally, the company must obtain all necessary statutory and regulatory approvals before proceeding with the issue.
Internal Control Measures
BSE has advised Richfield Financial Services to strengthen internal controls to monitor trading activities by proposed allottees. Key requirements include:
- Obtaining undertakings from allottees confirming no intra-day trading in company scrip
- Ensuring no sales in company scrip until allotment date
- Verifying compliance with Regulation 167(6) of SEBI ICDR Regulations 2018
- Taking full responsibility for monitoring and ensuring compliance
Post-Allotment Obligations
The company must submit a listing application within twenty days from the allotment date, as specified in SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. Non-compliance with this timeline will attract penalties as mentioned in the regulatory circular.
BSE reserves the right to withdraw the in-principle approval if submitted information is found incomplete, incorrect, misleading, or contravenes exchange rules and regulations. The approval was signed by Marian Dsouza, Assistant Vice President, and Karan Shah, Deputy Manager at BSE Limited.
Historical Stock Returns for Richfield Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.47% | -4.11% | -12.01% | -20.72% | -22.47% | +736.67% |
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