Rich Field Financial Services gets in-principle BSE nod for ₹8.6 Cr preferential issue

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AuthorAkshat Lakshkar|Published at:
Rich Field Financial Services gets in-principle BSE nod for ₹8.6 Cr preferential issue
Overview

BSE has granted in-principle approval to Rich Field Financial Services Limited (RFSL) for a preferential issue of 34.42 lakh equity shares at a minimum price of Rs 25 per share, aiming to raise approximately ₹8.6 crore. This move is part of RFSL's strategy to bolster its capital base for business activities and operational expansion. The approval is conditional and requires adherence to SEBI regulations and further listing permissions.

Rich Field Financial Services Secures In-Principle BSE Nod for ₹8.6 Crore Preferential Issue

Rich Field Financial Services plans to issue 34,42,000 equity shares at a minimum of ₹25 each.
This preferential issue is set to raise approximately ₹8.6 crore for the company.

Reader Takeaway: Capital infusion to fuel growth; pending approvals and dilution risk remain.

What just happened (today’s filing)

BSE has granted an in-principle approval to Rich Field Financial Services Limited (RFSL) for its proposed preferential issue. The company plans to allot 34,42,000 equity shares of Rs 10 face value each. The minimum issue price has been set at Rs 25 per share, targeting both promoter and non-promoter categories.

The approval is a crucial step, signalling the exchange's initial acceptance of the proposal. However, it is subject to various compliances and regulatory requirements, including SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Why this matters

This preferential issue is a significant move for RFSL as it aims to raise capital to strengthen its financial position and fund its business activities. Such capital infusions can support operational expansion, lending activities, and overall growth strategies for NBFCs. It can also lead to changes in the company's capital structure and shareholding pattern.

For investors, this indicates management's intent to grow the business. However, the process of preferential allotment involves several regulatory checks and balances, and the final listing depends on fulfilling all conditions.

The backstory (grounded)

Rich Field Financial Services, a Kolkata-based NBFC established in 1992, is actively involved in diversified financial services, including lending and investment activities. The company has a history of capital-raising initiatives. In June 2021, promoters undertook an open offer to increase their stake. More recently, RFSL proposed a preferential issue in November 2025, which was revised in terms of the number of shares and issue size from ₹10 crore to ₹8.6 crore.

RFSL has also demonstrated recent financial performance improvements, reporting strong Q2 FY2025-26 results with a significant year-over-year revenue increase and a positive Earnings Per Share (EPS). In August 2025, the company successfully raised ₹8.63 crore through Non-Convertible Debentures (NCDs) on a preferential basis, underscoring its efforts to bolster its capital base.

What changes now

  • Capital Infusion: The successful completion of the preferential issue will inject approximately ₹8.6 crore into RFSL, strengthening its financial resources.
  • Shareholding Pattern: The allotment of new shares is expected to alter the company's shareholding structure, potentially diluting existing holdings and changing the proportion of promoter versus public ownership.
  • Balance Sheet Enhancement: The raised funds can be deployed towards business activities, lending, and operational expansion, as planned.
  • Regulatory Compliance: The company must navigate the remaining regulatory approvals and compliance requirements, including SEBI and LODR regulations.

Risks to watch


  • Conditional Approval: BSE's approval is 'in-principle' and subject to final listing permissions. Any non-compliance with SEBI (ICDR) Regulations or LODR Regulations by RFSL or the allottees could lead to penalties or withdrawal of approval.

  • Execution Risk: RFSL needs to secure undertakings from allottees to prevent intra-day trading of the company's scrip. Failure to apply for listing within 20 days of allotment will attract fines.

  • BSE Oversight: BSE reserves the right to withdraw its 'in-principle' approval if any submitted information is found to be incomplete, incorrect, or misleading.

  • Potential Litigation: While no specific past litigations were found in the search, the availability of a 'Litigation Search Report' suggests a need for continued due diligence regarding legal matters.

Peer comparison

Rich Field Financial Services operates in the competitive NBFC and financial services sector in India. Key peers include other listed companies like Anupam Finserv Ltd., Ken Financial Services Ltd., and Shreevatsaa Finance and Leasing Ltd., which are also engaged in similar lending and financial intermediation activities. Larger entities such as JIO Financial Services and Chola Investment & Finance represent significant players in this landscape. These companies often pursue capital raises through various instruments to fund their growth and expand their service offerings.

Context metrics (time-bound)

  • Potential Fund Raise: Approximately ₹8.6 crore (based on 34,42,000 shares at a minimum price of ₹25 per share).
  • Shares to be Issued: 34,42,000 equity shares.
  • Minimum Issue Price: ₹25 per share.

What to track next


  • Completion of Allotment: RFSL must finalize the allotment of shares to the identified promoters and non-promoters.

  • Listing Application: The company must file for listing permission with the stock exchange within 20 days of the allotment date.

  • SEBI Compliance: Continuous adherence to SEBI's ICDR and LODR regulations throughout the process.

  • Shareholding Pattern Change: Monitoring the final shareholding structure post-allotment and listing.

  • Use of Funds: Tracking how the capital raised is utilized for business expansion and lending activities.

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