14,110 Secured Redeemable Non-Convertible Debentures Series VI allotted on private placement basis

Richfield Financial Services has allotted 14,110 Secured Unlisted Redeemable Non-Convertible Debentures (NCDs), Series VI, to identified allottees.

Sat 3 Oct 2026

NCDs allotted

14,110 Secured Unlisted Redeemable Non-Convertible Debentures (NCDs), Series VI

Issue size

Rs. 1,41,10,000/- (14,110 NCDs of Rs.1000/- each)

Allotment date

October 03, 2026

Listing status

The NCDs are not proposed to be listed

Security

first ranking pari passu charge on the company's movable assets, including book debts, cash and bank balances and loans and advances

The company's Finance Committee allotted 14,110 Secured Unlisted Redeemable Non-Convertible Debentures (NCDs), Series VI, to identified allottees. The update describes the issue as made on a private placement basis.

What was allotted

• 14,110 NCDs, each issued at par with a face value of Rs.1000/-
• Aggregate size: Rs. 1,41,10,000/- (Rupees One Crore Forty-One Lakh Ten Thousand only)
• The NCDs are described as Secured, Unlisted and Redeemable, and are not proposed to be listed
• Allotment date for all options: October 03, 2026

What backs the NCDs

• The NCDs are direct and secured obligations of the company.
• They will be secured by a first ranking pari passu charge with existing secured creditors on all movable assets, including book debts and receivables, cash and bank balances, other movable assets, loans and advances, both present and future.
• The cover is equal to one time the value of the NCDs outstanding plus interest accrued on them.

What a pari passu charge means simply: if the company fails to pay, the NCD holders rank alongside existing secured lenders on the assets charged, rather than ahead of or behind them.

Interest and redemption terms (from the term sheet)

• Option I: fixed coupon 11.25%, simple interest, paid monthly; tenure 400 days; redemption amount 1000 per NCD; redemption on November 07, 2027
• Option II: zero coupon, annually compounding, cumulative; tenure 16 months; redemption amount 1162 per NCD; redemption on February 03, 2028
• Option III: fixed coupon 11.50%, simple interest, paid monthly; tenure 2 year; redemption amount 1000 per NCD; redemption on October 02, 2028
• Option IV: fixed coupon 12.00%, simple interest, paid monthly; tenure 5 year; redemption amount 1000 per NCD; redemption on October 03, 2031
• Option V: zero coupon, annually compounding, cumulative; tenure 68 months; redemption amount 2000 per NCD; redemption on 03 June 2032

Payment schedule

• For the monthly-interest options, interest is payable on the 1st day of every month starting from November 01, 2026, with the last interest payment on maturity.
• For the cumulative options, the interest payment is on maturity.

How to read this

• This is a borrowing event. The company has raised fresh debt, so no new equity shares are issued and existing shareholders' holding is not diluted by this allotment.
• Because the NCDs are secured, a charge is created over the company's movable assets, including its book debts and cash and bank balances. Lenders holding these NCDs would have a claim on those assets if the company defaults.
• The coupons on the fixed-rate options range from 11.25% to 12.00%, and the cumulative options redeem at 1162 (Option II) and 2000 (Option V) per NCD against a face value of 1000.
• The NCDs are not proposed to be listed, so these instruments will not trade on an exchange.

Other points from the update: the committee meeting started at 05:00 pm and concluded at 05:30 pm.

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