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RNFI Services IPO is a book build issue of ₹70.81 crores. The issue is entirely a fresh issue of 0.67 crore shares of ₹70.81 crore.
RNFI Services IPO bidding started from Jul 22, 2024 and ended on Jul 24, 2024. The allotment for RNFI Services IPO was finalized on Jul 25, 2024. The shares got listed on NSE SME on Jul 29, 2024.
RNFI Services IPO price band is set at ₹105.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,17,600 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,52,000.
Choice Capital Advisors Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Choice Equity Broking Pvt.Ltd..
Refer to RNFI Services IPO RHP for detailed Information.
| IPO Date | July 22, 2024 to July 24, 2024 |
| Listing Date | July 29, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹98 to ₹105 per share |
| Issue Price Final | ₹105 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 67,44,000 shares (aggregating up to ₹70.81 Cr) |
| Reserved for Market Maker | 3,84,000 shares Choice Equity Broking Pvt.Ltd. (aggregating up to ₹4.03 Cr) |
| Net Offered to Public | 63,60,000 shares (aggregating up to ₹66.78 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,82,08,688 shares |
| Share Holding Post Issue | 2,49,52,688 shares |
RNFI Services IPO offers total 67,44,000 shares. Out of which 31,80,000 (47.15%) allocated to QIB, 12,72,000 (18.86%) allocated to QIB, 9,54,000 (14.15%) allocated to NII, 22,26,000 (33.01%) allocated to RII and 19,08,000 (28.29%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,84,000 (5.69%) |
| QIB Shares Offered | 31,80,000 (47.15%) |
| − Anchor Investor Shares Offered | 19,08,000 (28.29%) |
| − QIB (Ex. Anchor) Shares Offered | 12,72,000 (18.86%) |
| NII (HNI) Shares Offered | 9,54,000 (14.15%) |
| Retail Shares Offered | 22,26,000 (33.01%) |
| Total Shares Offered | 67,44,000 (100.00%) |
RNFI Services IPO raises ₹20.03 crore from anchor investors. RNFI Services IPO Anchor bid date is July 19, 2024. RNFI Services IPO Anchor Investors list
| Bid Date | July 19, 2024 |
| Shares Offered | 19,08,000 |
| Anchor Portion Size (In Cr.) | 20.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 23, 2024 |
RNFI Services IPO opens on July 22, 2024, and closes on July 24, 2024.
| IPO Open Date | Mon, Jul 22, 2024 |
| IPO Close Date | Wed, Jul 24, 2024 |
| Tentative Allotment | Thu, Jul 25, 2024 |
| Initiation of Refunds | Fri, Jul 26, 2024 |
| Credit of Shares to Demat | Fri, Jul 26, 2024 |
| Tentative Listing Date | Mon, Jul 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jul 24, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,26,000 |
| Retail (Max) | 1 | 1,200 | ₹1,26,000 |
| HNI (Min) | 2 | 2,400 | ₹2,52,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2015, RNFI Services Limited is a financial technology firm that offers B2B and B2B2C solutions through its online portal and mobile application. It focuses on providing banking, digital, and Government-to-Citizen (G2C) services across India.
The company's business can be divided into four categories:-
As of July 2024, the company has partnered with eleven financial institutions, including National private and public sector banks and payment banks. These institutions are engaged as business correspondents to provide financial inclusion services.
As of March 31, 2024, the company has processed over 115 lakh monthly transactions. As of June 3, 2024, it operates in over 28 states and 5 Union territories, covering 17,964 pin codes nationwide through its distribution network. As of March 31, 2024, the company has 1,405 employees on a standalone basis, playing a significant role in its growth.
As of June 3, 2024, the company has over 360,000 network partners across India, providing various tech-enabled services.
The company provides transactional business correspondent services including Domestic Money Transfer, Aadhaar Enabled Payment System, and Micro ATM, kiosk banking services, and doorstep services for private sector banks to conduct e-KYC for prepaid cards and fastags.
The company offers non-business correspondent services, including utility and travel-related services, EMI collection, delinquent loan collections, and sale of products and services to meet our network partners' needs.
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 | |||
The market capitalization of RNFI Services IPO is ₹262.00 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROCE | 29.74% |
| Debt/Equity | 1.02 |
| RoNW | 40.92% |
| PAT Margin | 1.06% |
| Price to Book Value | 6.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.47 | 3.99 |
| P/E (x) | 19.19 | 26.3 |
The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue ("Net Proceeds") are proposed to be utilised for the following objects:
[Dilip Davda] The company is in the business of providing fintech solutions on B2B and B2B2C models and has given major thrust to retail money exchange platform, which has yielded the fruits. Based on FY24 earnings, the issue appears fully priced. Considering bright prospects and the scope of scaling up of the performance, investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | July 29, 2024 |
| BSE Script Code | |
| NSE Symbol | RNFI |
| ISIN | INE0SA001017 |
| Final Issue Price | ₹105 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹105.00 |
| Open | ₹199.50 |
| Low | ₹189.55 |
| High | ₹199.95 |
| Last Trade | ₹189.55 |
RNFI Services Ltd.
UG-5, Relipay House,
Plot No. 42
DLF Industrial Area Kirti Nagar,
West Delhi, New Delhi, 110015
Phone: +91-8448985100
Email: cs@rnfiservices.com
Website: https://www.rnfiservices.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
RNFI Services IPO is a SME IPO of 67,44,000 equity shares of the face value of ₹10 aggregating up to ₹70.81 Crores. The issue is priced at ₹105 per share. The minimum order quantity is 1200.
The IPO opens on July 22, 2024, and closes on July 24, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in RNFI Services IPO using UPI as a payment gateway. Zerodha customers can apply in RNFI Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in RNFI Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The RNFI Services IPO opens on July 22, 2024 and closes on July 24, 2024.
RNFI Services IPO lot size is 1200, and the minimum amount required for application is ₹1,26,000.
You can apply in RNFI Services IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for RNFI Services IPO will be done on Thursday, July 25, 2024, and the allotted shares will be credited to your demat account by Friday, July 26, 2024. Check the RNFI Services IPO allotment status.
The RNFI Services IPO listing date is on Monday, July 29, 2024.
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