Richfield Financial Services Ltd

• Corrigendum issued to EGM notice for preferential equity share issue • Number of shares to be issued increased from 34.42 lakh to 40 lakh • List of allottees revised from 139 to 112 • Total issue size increased from ₹8.60 crore to ₹10 crore

🔍 Explanation of the News:

1. What is being updated?

• The company issued a corrigendum (correction) to the previously issued notice for an Extra-Ordinary General Meeting (EGM) dated 6th November 2025. This meeting was scheduled for 3rd December 2025 to discuss the preferential issue of equity shares.

2. Why was the corrigendum issued?

• BSE Limited raised observations while granting in-principle approval for the preferential issue.
• To ensure full compliance with the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018, the company made revised disclosures.

3. Key revisions made:

• Number of equity shares proposed to be issued increased from 34,42,000 (34.42 lakh) to 40,00,000 (40 lakh).
• The total issue size (amount to be raised) increased from ₹8,60,50,000 (₹8.60 crore) to ₹10,00,00,000 (₹10 crore).
• The list of proposed allottees (persons receiving shares) was revised, reducing from 139 to 112 individuals/entities.
• Percentage of post-preferential issue shareholding of proposed allottees was updated accordingly.
• Clarification on the minimum issue price was given to comply with SEBI ICDR norms. The minimum price is ₹24.26 per share, and the issue price is ₹25 per share.
• Pre- and post-issue shareholding patterns were updated to reflect these changes.

4. What does it mean for shareholders and investors?

• The company is clarifying and correcting the details for the preferential share issue to comply with regulatory requirements.
• Preferential issue means shares are issued to select individuals, usually at a certain negotiated price, which can affect shareholding structure.
• Investors should read the corrigendum along with the original EGM notice to understand the updated terms.

5. Regulatory aspect:

• The company is following SEBI Listing Obligations and Disclosure Requirements and SEBI ICDR Regulations.
• Such corrigenda are common to ensure transparency and compliance.

Overall, this update informs stakeholders about the corrected and revised details of the preferential issue of shares, including increased shares and amount, and changes in allottee list. This is part of regulatory compliance rather than a novel business event.