Vadasseril Chacko Georgekutty, Midhun Ittoop and Varghese Mathew entered into an agreement to acquire a 33.05% stake in Richfield Financial Services Limited from a group of investors for INR 26 million.

Vadasseril Chacko Georgekutty, Midhun Ittoop and Varghese Mathew entered into an agreement to acquire a 33.05% stake in Richfield Financial Services Limited (BSE:539435) from a group of investors for INR 26 million on June 16, 2021. Under the term, Vadasseril Chacko Georgekutty, Midhun Ittoop and Varghese Mathew will acquire 1.24 million share of Richfield at INR 21 per share. After the acquisition, Vadasseril Chacko Georgekutty, Midhun Ittoop and Varghese Mathew will own 11.02% of each on the Richfield Financial Services.

In related transaction, Vadasseril Chacko Georgekutty, Midhun Ittoop and Varghese Mathew made an offer to acquire 26% stake in Richfield Financial Services Limited for INR 22.4 million on June 16, 2021. The share purchase agreement is subject to the satisfaction of certain conditions as target shareholders and regulatory bodies.