RNFI Services IPO Details: The RNFI Services IPO is scheduled to open on July 22 and close on July 24. This NSE SME IPO aims to raise ₹70.81 crores, with a price band set between ₹98 and ₹105 per share and a market lot of 1200 shares.
RNFI Services operates as a tech-enabled platform, offering financial technology solutions in both the B2B and B2B2C sectors. Their integrated business model leverages an online portal and mobile application to provide banking, digital, and Government to Citizen (G2C) services across India. The company’s operations are divided into four main segments: business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking. As of this Red Herring Prospectus, RNFI Services offers money changer services through its wholly-owned subsidiary, RNFI Money Private Limited, which is registered with the RBI as a full-fledged money changer (FFMC). They also provide insurance broking services through Reliassure Insurance Brokers Private Limited, another wholly-owned subsidiary registered with IRDAI as a direct broker for life and general insurance.
RNFI Services acts as a bridge to ensure the availability of tech-enabled financial services across the country, including underserved and remote areas, by connecting them to formal financial channels. They create business and income-generating opportunities for shopkeepers and network partners, enabling them to provide banking, digital, and government services to end customers through web and mobile applications via an assisted model. Currently, RNFI Services has arrangements with eleven financial institutions, including national private and public sector banks and payment banks. They serve as business correspondents, offering financial inclusion services and doorstep KYC authentication for financial institution customers for prepaid cards and Fastag services across India.
RNFI Services IPO Objectives:
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:
- 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 Review (Apply or Not)
- Update soon
RNFI Services IPO Date & Price Band Details:
| IPO Open: | July 22, 2024 |
| IPO Close: | July 24, 2024 |
| IPO Size: | Approx ₹70.81 Crores, 67,44,000 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹98 to ₹105 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 35% of the net offer |
| QIB Quota: | 50% of the net offer |
| NII Quota: | 15% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
RNFI Services IPO Lot Size:
The RNFI Services IPO has a minimum market lot of 1200 shares, requiring an application amount of ₹126,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1200 | ₹126,000 |
| Retail Maximum | 1 | 1200 | ₹126,000 |
| S-HNI Minimum | 2 | 2400 | ₹252,000 |
RNFI Services IPO Timeline:
The RNFI Services IPO will open on July 22 and close on July 24. The IPO allotment date is set for July 25, and the shares are expected to list on July 29.
| IPO Open Date: | July 22, 2024 |
| IPO Close Date: | July 24, 2024 |
| Basis of Allotment: | July 25, 2024 |
| Refunds: | July 26, 2024 |
| Credit to Demat Account: | July 26, 2024 |
| IPO Listing Date: | July 29, 2024 |
RNFI Services IPO GMP Today:
The latest Grey Market Premium (GMP) for the RNFI Services SME IPO is ₹30. With a price band capped at ₹105, the estimated listing price is ₹135 (cap price + today’s GMP). This represents an expected percentage gain of 28.57% per share.
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹190.80 | ₹182.99 | ₹5.55 |
| 2023 | ₹1069.40 | ₹1062.86 | ₹4.89 |
| 2024 | ₹943.05 | ₹930.03 | ₹9.96 |
RNFI Services IPO Valuation – FY2024
Check RNFI Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹5.85 per Equity Share |
| Price/Earning P/E Ratio: | 16.75 |
| Return on Net Worth (RoNW): | 40.92% |
| Net Asset Value (NAV): | ₹17.35 per Equity Share |
Peer Group
- BLS E-Services Limited
- Mos Utility Limited
Company Promoters
- Ranveer Khyaliya
- Nitesh Kumar Sharma
- Deepankar Aggarwal
- Rajan Kumar
- Krishna Kumar Daga
- Charanjeet Singh
- Simran Singh Private Trust
RNFI Services IPO Registrar
Skyline Financial Services Pvt Ltd
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
RNFI Services IPO Allotment Status
Check RNFI Services IPO allotment status on Skyline Financial website URL. Click Here
RNFI Services IPO Lead Managers aka Merchant Bankers
- Choice Capital Advisors Private Limited
Company Address
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
1. What are the dates for the RNFI Services IPO?
The RNFI Services IPO will open on July 22 and close on July 24. The allotment date is July 25, and the shares are expected to list on July 29.
2. What is the price band for the RNFI Services IPO?
The price band for the RNFI Services IPO is set between ₹98 and ₹105 per share.
3. What is the minimum market lot for the RNFI Services IPO?
The minimum market lot is 1200 shares.
4. How much is the application amount for the RNFI Services IPO?
The application amount is ₹126,000 for the minimum market lot of 1200 shares.
5. What is the Grey Market Premium (GMP) for the RNFI Services IPO?
The latest Grey Market Premium (GMP) is ₹30, as of July 17th, 2024, 07:26 PM.
6. What is the estimated listing price for the RNFI Services IPO?
With the GMP of ₹30 and the cap price of ₹105, the estimated listing price is ₹135 per share.
7. What is the expected percentage gain/loss per share for the RNFI Services IPO?
The expected percentage gain per share is 28.57%.
8. What is RNFI Services?
RNFI Services is a tech-enabled platform offering financial technology solutions in the B2B and B2B2C sectors. They provide banking, digital, and Government to Citizen (G2C) services across India through their online portal and mobile application.
9. What are the main business segments of RNFI Services?
RNFI Services’ operations are divided into four main segments:
- Business correspondent services
- Non-business correspondent services
- Full-fledged money changer services
- Insurance broking
10. Who are the subsidiaries of RNFI Services?
RNFI Services offers money changer services through its wholly-owned subsidiary, RNFI Money Private Limited, and insurance broking services through Reliassure Insurance Brokers Private Limited.
11. What role does RNFI Services play in financial inclusion?
RNFI Services acts as a bridge to provide tech-enabled financial services across the country, including underserved and remote areas. They connect these areas to formal financial channels and create business and income-generating opportunities for shopkeepers and network partners.
12. Which financial institutions has RNFI Services partnered with?
RNFI Services has arrangements with eleven financial institutions, including national private and public sector banks and payment banks. They serve as business correspondents, providing financial inclusion services and doorstep KYC authentication for customers using prepaid cards and Fastag services across India.
