RNFI Services IPO
#1. Quick Intro to RNFI Services IPO
The initial public offering (IPO) of RNFI Services will open for subscription on July 22 and close on July 24, comprising fresh issues of Rs.70.81 crore. An investor can apply for the issue for a minimum of 1200 shares and the listing will happen on July 29, 2024.
RNFI Services Limited (2015) is an enabled platform offering advanced financial technology solutions in the B2B and B2B2C financial technology arena through an integrated business model via an online portal and mobile application, focusing on providing banking, digital and Government to Citizens (“G2C”) services on PAN India basis.
The company business is primarily into four (4) segments namely (i) business correspondent services; (ii) non-business correspondent services; (iii) full-fledged money changer service; and (iv) insurance broking.
Check out the IPO allotment status on IPO Deliver.
#2. IPO Object of RNFI Services
The company intends to use the IPO Funds for the following purposes:
- Funding for the capital expenditure for the purchase of micro ATMs, etc.
- Achieving inorganic growth through unidentified acquisitions
- Funding for the working capital requirement of the company
- General corporate purposes and issue expenses.
#3. RNFI Services Core Strengths
- Holistic business model
- A technology focus business model
- Asset-light and scaleable business model
- Diverse distribution network spread across PAN India
- Experienced promoters and management team
#4. RNFI Services IPO Review & Rating
| Issue Size | Rs.70.81 crore |
| Issue Price | Rs.98-105per share |
| Minimum Lot Size | 1200 Shares |
| Total Profit (Latest) | Rs.996.07 lakhs |
| ROE (%) | 29.74 |
| RONW (%) | 40.92 |
| Listing on | NSE BSE |
| IPO Deliver Rating | Two |
#5. RNFI Services IPO Dates, Price Band & Details
RNFI Services IPO will open on July 22, 2024, and close on July 24, 2024. The IPO is to be listed on July 29, 2024.
| Type of issue | Book Built Issue IPO |
| Issue Size | Rs.70.81 crore |
| Price Brand | Rs.98-105 per share |
| Face Value | Rs. 10/- per share |
| IPO Open Date | July 22, 2024 |
| IPO Close Date | July 24, 2024 |
| IPO Allotment Date | July 25, 2024 |
| Refund Date | July 26, 2024 |
| Share Credit Date | July 26, 2024 |
| Listing Date | July 29, 2024 |
#6. RNFI Services IPO Offer Details
RNFI Services IPO’s total issue size is 67,44,000 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
| Fresh Issue | 67,44,000 | Rs.78.81 |
| Offer for Sale (OFS) | – | – |
#7. RNFI Services Financials Overview (Lakhs)
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category (Rs.) | March 2024 | March 2023 | March 2022 |
| Total Revenue | 93542.38 | 106659.37 | 18825.26 |
| Net Worth | 3159.90 | 2041.64 | 1330.24 |
| Profit | 996.07 | 488.71 | 555.03 |
| Total Borrowings | 3250.59 | 1935.39 | 1165.36 |
#8. RNFI Services Quantitative Factors
The following table sets forth the summary of financial information of the company for the period March 31, 2024, March 31, 2023 and March 31, 2022.
| Category | March 2024 | March 2023 | March 2022 |
| EPS (Rs.) | 5.85 | 3.03 | 2.94 |
| RoNW (%) | 40.92 | 31.99 | 49.42 |
| NAV (Rs.) | 17.35 | – | – |
#9. RNFI Services Comparison with Other Peer Companies (Top 2)
Listed companies in India are comparable in all aspects of the business.
| Company Names | Total Revenue
(Rs. in Lakhs) |
RoNW (%) | NAV |
| BSL E-Services | 30147.93 | 11.51 | 47.45 |
| Mos Utility | 18677.43 | 21.37 | 30.10 |
#10. RNFI Services Company Promoters
The company has seven promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). (Top-2)
| Sr. No. | Name of Promoters |
| 01. | Ranveer Khyaliya |
| 02. | Nitesh Kumar Sharma |
#11. RNFI Services Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
| Pre-issue | 89.53 |
| Post-issue | – |
#12. RNFI Services IPO Reservation Details
RNFI Services IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the net offer |
#13. RNFI Services IPO – Lot Size
An investor can apply for a minimum of 1200 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail (Min.) | 1 | 1200 | 1,26,000 |
| Retail (Max.) | 1 | 1200 | 1,26,000 |
| HNI (Min.) | 2 | 2400 | 2,52,000 |
#14. RNFI Services IPO – Prospectus Copy
An investor can download/view the RNFI Services prospectus copy, which the company filed to exchange, details are as follows.
| RNFI Services IPO Prospectus |
| Draft Red Herring Prospectus (DRHP) |
| Red Herring Prospectus (RHP) |
#15. RNFI Services IPO Registrar
Skyline Services Private Limited
Website: www.skylinerta.com
#16. RNFI Services IPO Lead Managers
Choice Capital Advisors Private Limited
Website; www.choiceindia.com
#17. RNFI Services IPO Application (How to Apply for an IPO)
There are three primary options for applying for an RNFI Services IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “RNFI Services Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “RNFI Services Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you.
#18. RNFI Services Company Details
RNFI Services Limited
Registered Office: UG-5, Relipay House, Plot No. 42 DLF Industrial Area Kirti Nagar, West Delhi, New Delhi, Delhi, India, 110015
Email: cs@rnfiservices.com
Website: www.rnfiservices.com
#19. RNFI Services Subsidiary Companies (Top 2)
| Sr.No. | Name of Companies (Indian) |
| 01. | Paysprint Private Limited |
| 02. | – |
#20. RNFI Services Company Board (Top 2)
| Sr. No. | Name of Directors |
| 01. | Ranveer Khyaliya |
| 02. | Nitesh Kumar Sharma |
RNFI Services IPO – Frequently Asked Questions (FAQs)
| #1. What is an RNFI Services IPO?
RNFI Services brings its IPO of Rs.70.81 crore, on July 22, 2024, with a price band of Rs.98-105 per share. |
| #2. What is the RNFI Services IPO Open date?
RNFI Services IPO’s opening date is July 22, 2024. |
| #3. What is the RNFI Services IPO Close Date?
RNFI Services IPO’s closing date is July 24, 2024. |
| #4. What is the RNFI Services IPO Listing date?
RNFI Services’s IPO listing date is July 29, 2024. |
| #5. What is the RNFI Services IPO Minimum investment amount?
RNFI Services IPO’s minimum investment amount is Rs.1,26,000. |
| #6. What is the RNFI Services IPO offer issue Size?
RNFI Services offers an issue size of Rs.70.81 crore. |
| #7. What is the RNFI Services IPO Price Band?
RNFI Services’s IPO price band is Rs.98-105 per share. |
| #8. Is RNFI Services IPO mainboard IPO or SME IPO?
RNFI Services IPO is an SME IPO. |
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