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RNFI Services IPO

RNFI Services IPO Dates, Price Band, Rating, Analysis, and Allotment Details 2024

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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: 

  1. Funding for the capital expenditure for the purchase of micro ATMs, etc.
  2. Achieving inorganic growth through unidentified acquisitions 
  3. Funding for the working capital requirement of the company
  4. General corporate purposes and issue expenses. 

#3. RNFI Services Core Strengths 

  1. Holistic business model   
  2. A technology focus business model 
  3. Asset-light and scaleable business model
  4. Diverse distribution network spread across PAN India
  5. 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.

 

Click here for the previous SME IPOs

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