Richfield Financial Services Limited has successfully completed its preferential allotment of equity shares following the board meeting held on March 10, 2026. The company allotted 21,56,000 equity shares at ₹25 per share to 78 allottees, raising ₹5.39 crores through this preferential issue.

Preferential Allotment Details

The board approved the allotment of equity shares to both promoter and non-promoter categories based on the special resolution passed by members at the Extra-ordinary General Meeting held on December 03, 2025, and in accordance with in-principal approval granted on February 25, 2026.

Major Allottees and Investment Distribution

Among the significant allottees, Ente Naadu Multi State Agro Cooperative Society Ltd received the largest allocation of 8,00,000 shares worth ₹2,00,00,000. The allotment included 77 non-promoter investors and one promoter, V C Georgekutty, who received 21,600 shares.

Post-Allotment Shareholding Pattern

The preferential allotment has resulted in significant changes to the company's shareholding structure. Ente Naadu Multi State Agro Cooperative Society Ltd emerges as a major shareholder with 8.29% stake post-allotment, while existing shareholders like Elen Elu Shibu and Erin Lizabeth Shibu have increased their holdings.

Additional Board Decisions

The board meeting, which commenced at 7:30 p.m. and concluded at 9:15 p.m., also addressed several other significant matters. The board approved the issue of subordinated debts up to ₹75 crores for the financial year 2026-27 within the company's borrowing powers.

Key Personnel Changes

The board noted and approved the resignation of Vishnu Sivan as the Chief Financial Officer of the company effective April 1, 2026. Sivan submitted his resignation due to personal reasons and not because of any official matters.

Regulatory Compliance

The preferential allotment was conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 and other applicable laws. Company Secretary and Compliance Officer Roopamol K S (ACS76256) digitally signed all regulatory communications, ensuring proper compliance with SEBI Listing Regulations.

Richfield Financial Services Limited has issued a comprehensive postal ballot notice dated February 26, 2026, seeking shareholder approval on three critical special resolutions through electronic voting. The company has scheduled the e-voting period from February 28, 2026 to March 29, 2026, with results expected to be declared by March 30, 2026.

E-Voting Schedule and Process

The company has established a structured timeline for the postal ballot process, engaging National Securities Depository Limited (NSDL) to provide e-voting facilities to shareholders.

Key Resolutions for Shareholder Approval

The postal ballot notice encompasses three special resolutions that require shareholder consent for implementation.

Independent Director Appointment

The first resolution seeks approval for appointing Mr. Peeyus A Kottam (DIN: 02417715) as Non-Executive Independent Director for a three-year term effective February 9, 2026. Mr. Kottam, aged 59 years, holds a BA LLB from Mangalore University and serves as President of the Kerala High Court Advocates' Association (KHCAA) for 2026. His legal career spans over three decades since 1991, operating A Peeyus A Kottam & Associates in Ernakulam, Kochi.

Managing Director Remuneration Approval

The second resolution addresses the remuneration structure for Managing Director Mr. Vadasseril Chacko Georgekutty (DIN: 09194854). The proposal seeks approval for annual remuneration not exceeding Rs. 30 Lakhs effective April 1, 2026. Mr. Georgekutty, aged 54 years, is an MBA graduate from the National Institute of Bank Management (NIBM) with over 30 years of experience in Non-Banking Financial Services. He holds 15.84% shareholding in the company and has been associated as Director since October 2021.

Articles of Association Amendment

The third resolution proposes alteration of the company's Articles of Association to comply with SEBI regulations. The amendment involves inserting Article 66A, which mandates the Board to appoint persons nominated by debenture trustees as directors, in accordance with SEBI (Debenture Trustees) Regulations, 1993 and SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Shareholder Participation Guidelines

The company has implemented electronic-only voting in compliance with Ministry of Corporate Affairs circulars. Shareholders whose email addresses are registered with the company, depositories, or Registrar and Share Transfer Agent (Niche Technologies Private Limited) as of the cut-off date will receive the postal ballot notice electronically. The voting process requires shareholders to access the NSDL e-voting platform using their demat account credentials or designated login information.

Corporate Compliance and Transparency

Richfield Financial Services operates as a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, specializing in gold loans, personal loans, and microfinance services. The company was incorporated on April 16, 1992, and maintains its corporate office at Ashiyana Building, Subash Chandra Bose Road, Ponnurunni, Vytilla-682019. The postal ballot notice and related documents are available on the company's website at www.rfsl.co.in and BSE's website at www.bseindia.com for shareholder reference and transparency.