RNFI Services IPO will open for subscription from 22 July 2024. The company aims for an issue size of ₹70.81 Cr through this IPO.
Company Overview
| Full name | RNFI Services Limited |
| Sector | Information Technology |
| Industry | Fintech |
| Company Website | https://www.rnfiservices.com/ |
About Company
RNFI Services is a tech-enabled platform delivering financial technology solutions in the B2B and B2B2C sectors. Through its integrated business model, utilizing both an online portal and a mobile application, the company focuses on providing banking, digital, and government-to-citizen (G2C) services across India. The company divides its business into four main segments:
- Business correspondent services
- Non-business correspondent services
- Full-fledged money changer services
- Insurance broking
RNFI Services processes over 11.5 million transactions monthly. As of 3 June 2024, the company operates in more than 28 states and 5 union territories, covering 17,964 pin codes across the country through its extensive distribution network. As of 3 June 2024, RNFI Services’ front-end distribution network includes over 3,60,000 network partners across India. These partners provide a variety of tech-enabled business correspondent and non-business correspondent services. As of 31 March 2024, the company employs 1,405 individuals on a standalone basis, significantly contributing to its growth.
The Objectives of the Issue
- Funding the working capital requirements of the Company
- Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server
- Strengthening our technology infrastructure to develop new capabilities
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives
- General Corporate Purposes
RNFI Services IPO Timetable
| IPO Opening date | 22 July 2024 |
| IPO Closing | 24 July 2024 |
| Basis of Allotment | 25 July 2024 |
| Initiation Refund | 26 July 2024 |
| Credit to Demat Account | 26 July 2024 |
| Listing Date | 29 July 2024 |
RNFI Services Offer details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹70.81 Cr – 6,744,000 shares |
| Fresh Issue | ₹70.81 Cr – 6,744,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹98 to ₹105 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 384,000 shares |
| Shareholding pre-issue | 18,208,688 |
| Shareholding post-issue | 24,952,688 |
| Listing Exchange | NSE SME |
RNFI Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
RNFI Services Offer Documents
RNFI Services IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,908,000 (28.29%) |
| Market Maker Shares Offered | 384,000 (5.69%) |
| QIB Shares Offered | 1,272,000 (18.86%) |
| NII (HNI) Shares Offered | 954,000 (14.15%) |
| Retail Shares Offered | 2,226,000 (33.01%) |
| Total Shares Offered | 6,744,000 (100%) |
RNFI Services Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 188.25 | 1,066.59 | 935.42 |
| Expenses | 182.99 | 1,062.86 | 930.03 |
| Net income | 5.55 | 4.89 | 9.96 |
RNFI Services Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 2.94 | 3.03 | 5.85 |
| PE ratio | – | – | 16.75 – 17.95 |
| RONW (%) | 49.42 | 31.99 | 40.92 |
| NAV | 7.47 | 11.47 | 17.35 |
| ROCE (%) | 33.25 | 24.28 | 29.74 |
| EBITDA (%) | 5.20 | 0.93 | 2.06 |
| Debt/Equity | 0.85 | 0.90 | 1.02 |
Company Promoters
- Ranveer Khyaliya
- Nitesh Kumar Sharma
- Deepankar Aggarwal
- Rajan Kumar
- Krishna Kumar Daga
- Charanjeet Singh
- Simran Singh Private Trust.
Promoter Holding
| Pre Issue Share Holding | 89.53% |
| Post Issue Share Holding |
RNFI Services Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 27 July 2024 | 75 | – | 70,000 |
| 26 July 2024 | 77 | – | 72,000 |
| 25 July 2024 | 77 | – | 72,000 |
| 24 July 2024 | 70 | – | 65,000 |
| 23 July 2024 | 57 | – | 53,500 |
| 22 July 2024 | 50 | – | 45,000 |
| 20 July 2024 | 50 | – | 45,000 |
| 19 July 2024 | 43 | – | 38,500 |
| 18 July 2024 | 43 | – | 38,500 |
| 17 July 2024 | 40 | – | 35,000 |
RNFI Services IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 12,72,000 | 9,54,000 | 22,26,000 | 44,52,000 |
| 24 Jul 2024 | 140.66 | 513.71 | 142.62 | 221.58 |
| 23 Jul 2024 | 0.76 | 26.73 | 35.55 | 23.72 |
| 22 Jul 2024 | 0.00 | 4.01 | 9.76 | 5.74 |
RNFI Services IPO Allotment Status
RNFI Services IPO allotment status is now available on Skyline Financial Services’ website. Click on this link to get allotment status.
RNFI Services IPO Listing Details
| Listing Date | 29 July 2024 |
| BSE Scrip Code | – |
| NSE Symbol | RNFI |
| ISIN | INE0SA001017 |
| Final Issue Price | ₹105 per share |
RNFI Services IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹105.00 |
| Open | ₹199.50 |
| Low | ₹189.55 |
| High | ₹199.95 |
| Last Trade | ₹189.55 |
RNFI Services IPO Lead Manager(s)
CHOICE CAPITAL ADVISORS PRIVATE LIMITED
Sunil Patodia Tower, Plot No. 156-158,
J.B. Nagar, Andheri (East), Mumbai, 400 099
Phone: +91 22 6707 9999 / 7919
Email: rnfi.ipo@choiceindia.com
Website: www.choiceindia.com
RNFI Services Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
RNFI Services Contact Details
RNFI SERVICES LIMITED
UG-5, Relipay House, Plot No. 42,
DLF Industrial Area Kirti Nagar, West Delhi,
New Delhi, Delhi, India, 110 015
Phone: +91 844 898 5100
E-mail: cs@rnfiservices.com
Website: www.rnfiservices.com
RNFI Services IPO FAQs
What is the RNFI Services offer size?
RNFI Services offer size is ₹ 66.09 – 70.81 crores.
What is the RNFI Services offer price band?
RNFI Services public offer price is ₹ 98 – 105 per share.
What is the lot size of the RNFI Services IPO?
RNFI Services offer lot size is 1,200 shares.
What is RNFI Services IPO GMP today?
RNFI Services IPO GMP today is ₹ 75 per share.
What is the RNFI Services kostak rate today?
RNFI Services kostak rate today is NA per application.
What is RNFI Services Subject to Sauda rate today?
RNFI Services Subject to Sauda rate today is ₹ 70,000 per application.
Final thoughts
RNFI Services IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
