Richfield Financial Services Ltd

Richfield Financial Services Ltd. (Formerly known as Richfield Portfolio Management Private Limited) was incorporated in April 1992 and upon the Conversion of the Company to Public Limited, the Company obtained fresh Certificate of Incorporation on 19th Dec.94. The Company is engaged into trading of shares and securities and short term financing including merchant banking, stockbroking, portfolio management, project consultancy, loan syndication, capital structuring and for carrying out fund based activities, viz., leasing, investments, bill discounting, bought out deals (BODs) etc. The Company has builtup a Data Bank and Research Division to handle the assignments and to provide technical analysis to the interested section of the investing society. The Companys existing investments are held as longterm assets/ basic stockintrade and as such, the returns from them are not related into the operations of the Company although market value thereof is more than the book value. Short Term Financing ranging from 3 to 6 months is a good avenue to park surplus funds in any organisation. In the process, it faces the risk of untimely repayment and consequently it may also have to resort to similar means of financing to meet its shortfall. The Company has to ensure careful scrutiny of prospective Companies before financing.The Company started its operations from the year ended Mar.93. During Feb.96, RFSL came out with a public issue of 9,50,000 equity shares of Rs 10/ each for cash at a premium of Rs 4/ per share aggregating to Rs 133 lakhs to consolidate its capital base and augment its long term resources to meet the need of its expanding fund based business in leasing, hire purchase investment in securities, short term financing etc by infusion of funds in the form of equity capital and to increase its networth, for the purpose of enhancing borrowing capacity and the ability to provide increased underwriting support etc.In 201516, the Company promoted two wholly owned subsidiaries, Bhadrakut Vinimay Ltd and Vishaldhar Vinimay Ltd by investing Rs 5,00,000/ each which has ceased to be the subsidiary Companies during the year 201617.