RNFI Services IPO vs VVIP Infratech IPO

Comparison between RNFI Services IPO and VVIP Infratech IPO.

IPO Details

RNFI Services IPO is a SME Bookbuilding IPO proposed to list at NSE SME while VVIP Infratech IPO is a SME Bookbuilding proposed to list at BSE SME.

	RNFI Services IPO	VVIP Infratech IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	NSE SME	BSE SME
Lead Managers	Choice Capital Advisors Pvt.Ltd.	Share India Capital Services Pvt.Ltd.
Registrar	Skyline Financial Services Pvt.Ltd.	Maashitla Securities Pvt.Ltd.
Market Maker	Choice Equity Broking Pvt.Ltd.	Share India Securities Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of RNFI Services IPO is up to ₹66.78 Cr whereas the issue size of the VVIP Infratech IPO is up to ₹58.07 Cr. The final issue price of RNFI Services IPO is ₹105.00 per share and of VVIP Infratech IPO is ₹93.00 per share.

	RNFI Services IPO	VVIP Infratech IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹98.00 per share	₹91.00 per share
Issue Price (Upper)	₹105.00 per share	₹93.00 per share
Issue Price (Final)	₹105.00 per share	₹93.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1200 shares	1200 shares
Fresh Issue Size	63,60,000 shares	62,43,600 shares
Fresh Issue Size (Amount)	up to ₹66.78 Cr	up to ₹58.07 Cr
OFS Issue Size	0 shares	0 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹0.00 Cr
Issue Size Total	63,60,000 shares	62,43,600 shares
Issue Size Total (Amount)	up to ₹66.78 Cr	up to ₹58.07 Cr

IPO Timetable

RNFI Services IPO opens on Jul 22, 2024, while VVIP Infratech IPO opens on Jul 23, 2024. The closing date of RNFI Services IPO and VVIP Infratech IPO is Jul 24, 2024, and Jul 25, 2024, respectively.

	RNFI Services IPO	VVIP Infratech IPO
Anchor Bid Date	Jul 19, 2024	Jul 22, 2024
Issue Open	Jul 22, 2024	Jul 23, 2024
Issue Close	Jul 24, 2024	Jul 25, 2024
Basis Of Allotment (Tentative)	Jul 25, 2024	Jul 26, 2024
Initiation of Refunds (Tentative)	Jul 26, 2024	Jul 29, 2024
Credit of Share (Tentative)	Jul 26, 2024	Jul 29, 2024
Listing date (Tentative)	Jul 29, 2024	Jul 30, 2024
Anchor Lockin End date 1	Aug 24, 2024	Aug 25, 2024
Anchor Lockin End date 2	Oct 23, 2024	Oct 24, 2024

Financials & KPIs

RNFI Services IPO P/E ratio is 19.19, as compared to VVIP Infratech IPO P/E ratio of 8.26.

RNFI Services IPO

VVIP Infratech IPO

Financials

RNFI Services Limited Financial Information (Restated Consolidated)

RNFI Services Limited's revenue decreased by -11.81% and profit after tax (PAT) rose by 103.82% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	19,051.38	12,526.71	11,661.34
Total Income	94,305.10	106,939.62	19,079.93
Profit After Tax	996.07	488.71	555.03
Net Worth	3,159.90	2,041.64	1,330.24
Reserves and Surplus	1,350.86	2,043.47	1,332.07
Total Borrowing	3,638.87	2,118.75	1,264.05
Amount in ₹ Lakhs

VVIP Infratech Limited Financial Information (Restated Consolidated)

VVIP Infratech Limited's revenue increased by 35.77% and profit after tax (PAT) rose by 52.56% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	26,319.67	24,158.58	26,624.58
Total Income	28,588.31	21,056.28	18,526.04
Profit After Tax	2,071.23	1,357.66	452.96
Net Worth	11,061.17	8,639.66	6,803.50
Reserves and Surplus	9,222.40	8,579.13	6,742.97
Total Borrowing	4,431.98	3,598.39	6,679.88
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

89.53

92.34

Promoter Shareholding (Post-Issue)

P/E Ratio

19.19

8.26

Market Cap

₹262.00 Cr.

₹232.22 Cr.

ROE

21.36%

ROCE

29.74%

19.00%

Debt/Equity

1.02

0.40

EPS

₹5.47

₹11.26

RoNW

40.92%

18.73%

Shares Offered

In the RNFI Services IPO Retail Individual Investors (RII) are offered 22,26,000 shares while in VVIP Infratech IPO retail investors are offered 22,26,000 shares. Qualified Institutional Buyers (QIB) are offered 12,72,000 shares in RNFI Services IPO and 12,48,000 shares in VVIP Infratech IPO.

	RNFI Services IPO	VVIP Infratech IPO
Anchor Investor Reserveration	19,08,000 shares	18,72,000 shares
Market Maker Reserveration	3,84,000 shares	3,38,400 shares
QIB	12,72,000 shares	12,48,000 shares
NII	9,54,000 shares	9,37,200 shares
RII	22,26,000 shares	21,86,400 shares
Employee
Others
Total	63,60,000 shares	62,43,600 shares

Bids Received (Subscription)

RNFI Services IPO subscribed 221.49x in total, whereas VVIP Infratech IPO subscribed 236.92x.

	RNFI Services IPO	VVIP Infratech IPO
QIB (times)	140.66x	168.45x
NII (times)	513.31x	456.82x
Big NII (times)
Small NII (times)
RII (times)	142.62x	181.73x
Employee (times)
Other (times)
Total (times)	221.49x	236.92x

Compare with others

RNFI Services IPO	VVIP Infratech IPO
Manglam Infra IPO	S A Tech Software IPO
Chetana Education IPO	Aprameya Engineering IPO
Clinitech Laboratory IPO	Manglam Infra IPO
VVIP Infratech IPO	Chetana Education IPO
V.L.Infraprojects IPO	Clinitech Laboratory IPO
Macobs Technologies IPO	V.L.Infraprojects IPO
Kataria Industries IPO	RNFI Services IPO
SAR Televenture FPO	Macobs Technologies IPO
Tunwal E-Motors IPO	Kataria Industries IPO
Three M Paper Boards IPO	SAR Televenture FPO