Richfield Financial Services Ltd

Richfield Financial Services Limited was initially incorporated as Richfield Portfolio Management Private Limited, as a Private company on 16 April, 1992. The Company became a Public limited company and the name of the Company was changed to Richfield Portfolio Management Limited on December 19, 1994. Further, a change in name of the Company to 'Richfield Financial Services Limited' was made effective in 1995. The Company was incorporated with the object to carry on the business of Finance and Investment in Shares and Securities. Presently, it engages into trading of shares and securities and short term financing including merchant banking, stock-broking, 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 built-up a Data Bank and Research Division to handle the assignments and to provide technical analysis to the interested section of the investing society. The Company's existing investments are held as long-term assets/ basic stock-in-trade 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 2015-16, 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 2016-17. During the financial year 2024-25, the Company has expanded its operations of Gold loan to 773.18 Crores, Microfinance loans to 700.24 crores, Personal loans to 1127.50 crores and Other loans to 234.38 crores.