RNFI Services IPO Details ( RNFI Services Limited IPO Review )
(22 July 2024 – 24 July 2024)
Founded in 2015, RNFI Services Limited is a fintech company that provides B2B and B2B2C solutions through its online portal and mobile app. We specialize in offering a wide range of banking, digital, and Government-to-Citizen (G2C) services across India.
Our Services:
- Business Correspondent Services
- Non-Business Correspondent Services
- Full-Fledged Money Changer Service
- Insurance Broking
As of July 2024, we have partnered with eleven major financial institutions, including both private and public sector banks, as well as payment banks. These partnerships help us deliver essential financial inclusion services.
Impressive Reach and Impact:
- By March 31, 2024, we processed over 115 lakh transactions each month.
- By June 3, 2024, our services extended to over 28 states and 5 Union territories, covering 17,964 pin codes nationwide.
- Our dedicated team has grown to 1,405 employees as of March 31, 2024, driving our continued success.
Expanding Network:
As of June 3, 2024, RNFI Services Limited proudly collaborates with over 360,000 network partners across India, providing a variety of tech-enabled services.
Key Offerings:
- Transactional Business Correspondent Services: Including Domestic Money Transfer, Aadhaar Enabled Payment System, and Micro ATM. We also offer kiosk banking services and doorstep e-KYC services for prepaid cards and Fastags.
- Non-Business Correspondent Services: Including utility and travel-related services, EMI collection, delinquent loan collections, and the sale of products and services tailored to our network partners’ needs.
At RNFI Services Limited, we are committed to empowering our partners and customers with seamless and innovative financial solutions.
RNFI Services Limited IPO Competitive Strength
- Holistic Business Model: All-in-one solution for B2B and B2B2C and wide-ranging product and service portfolio
- A technology focused business model with an advanced digital platform
- Asset light and scalable business model
- Diverse Distribution Network spread across PAN India
- Experienced leadership backed by a skilled professional team
RNFI Services IPO Financials Performance ( Results )
RNFI Services Limited Financial Information (Restated Consolidated)
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | Net Worth | Reserves | Borrowing |
| 31-Mar-22 | 11,661.34 | 19,079.93 | 555.03 | 1,330.24 | 1,332.07 | 1,264.05 |
| 31-Mar-23 | 12,526.71 | 106,939.62 | 488.71 | 2,041.64 | 2,043.47 | 2,118.75 |
| 31-Mar-24 | 19,051.38 | 94,305.10 | 996.07 | 3,159.90 | 1,350.86 | 3,638.87 |
Objective of RNFI Services IPO 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 Basic Details
| IPO Date | July 22, 2024 to July 24, 2024 |
| Listing Date | Monday, July 29, 2024 |
| Face Value | ₹10 per share |
| Price | ₹98 to ₹105 per share |
| Lot Size | 1200 shares |
| Issue Size | 6,744,000 shares (aggregating up to ₹70.81 Cr) |
| Fresh Issue | 6,744,000 shares (aggregating up to ₹70.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,208,688 |
| Share holding post issue | 24,952,688 |
RNFI Services IPO Reservation
| QIB Shares Offered | 50.00% of the Net Issue |
| NII (HNI) Shares Offered | 15.00% of the Net Issue |
| Retail Shares Offered | 35.00% of the Net Issue |
| Total Shares Offered | 100.00% of the Net Issue |
RNFI IPO Timetable
RNFI IPO will open on July 22, 2024 and close on July 24, 2024. You can join RNFI IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 22 July 2024 (Monday) |
| Closing Date | 24 July 2024 (Wednesday) |
| Basis of Allotment | 25 July 2024 (Thursday) |
| Initiation of Refunds | 26 July 2024 (Friday) |
| Credit of Shares to Demat | 26 July 2024 (Friday) |
| Listing Date | 29 July 2024 (Monday) |
| Deadline for UPI mandate confirmation | 5 PM on 24 July 2024 |
RNFI Services IPO Lot Size
For retail investors in RNFI Services IPO, 1200 shares will come in 1 lot or the minimum investment will be ₹126,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹126,000.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| S-HNI (Min) | 2 | 2400 | ₹252,000 |
RNFI Services IPO Promoter Holding
The company’s promoters include Ranveer Khyaliya, Nitesh Kumar Sharma, Deepankar Aggarwal, Rajan Kumar, Krishna Kumar Daga, Charanjeet Singh and Simran Singh Private Trust.
| Pre Issue Share Holding | 89.53% |
| Post Issue Share Holding |
RNFI Services Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 262 |
| Earning Per Share (EPS) | ₹5.85 per Equity Share |
| Net Asset Value (NAV) | ₹17.35 per Equity Share |
| P/E Ratio (P/E) (x) | 19.19 |
| Post P/E Ratio (P/E) (x) | 26.30 |
| Return on Net Worth (RoNW) (%) | 40.92 |
| Return on Capital Employed (ROCE) (%) | 29.74 |
| Debt/Equity Ratio | 1.02 |
| Price/Book Value Ratio | 6.05 |
RNFI Services IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹50 | – | – |
| 18 July 2024 | ₹50 | – | – |
RNFI Services IPO Detail Video:
RNFI Services IPO Subscription Status (Bidding Detail)
The RNFI Services IPO on July 24, 2024 at 6:19:58 PM was subscribed 221.49 times, with the retail category being subscribed 142.62 times, the NII (Non-Institutional Investor) category being subscribed 513.31 times, QIB (Qualified-Institutional Buyers) category being subscribed 140.66 times.
| Category | Subscription |
| QIB | 140.66x |
| NII | 513.31x |
| Retail | 142.62x |
| Total | 221.49x |
RNFI Services IPO Prospectus
| RNFI Services IPO DRHP | Download |
| RNFI Services IPO RHP | Download |
| RNFI Services IPO Anchor Investors Details PDF | Download |
RNFI Services IPO Rating
| Our Rating | 2.5/5.0 |
RNFI Services Company Contact Information
RNFI Services Limited
Registered Office: UG-5, Relipay House, Plot No. 42, DLF Industrial Area Kirti Nagar, West Delhi, New Delhi, Delhi, India, 110 015
Contact Person: Kush Mishra, Company Secretary and Compliance Officer
Tel: +91 844 898 5100
E-mail: cs@rnfiservices.com
Website: www.rnfiservices.com
Corporate Identity Number: U74140DL2015PLC286390
RNFI Services IPO Registrar
Skyline Financial Services Private Limited
Registered Office: D-153 A, 1st Floor Okhla Industrial Area, Phase-I New Delhi – 110 020, India
Telephone: +91 11 40450193-97
E-mail: ipo@skylinerta.com
Investor grievance email: grievances@skylinerta.com
Website: www.skylinerta.com
Contact Person: Anuj Rana
SEBI Registration No: INR000003241
RNFI Services IPO Lead Manager
Choice Capital Advisors Private Limited
Registered Office: Sunil Patodia Tower, Plot No.156-158 J.B. Nagar, Andheri (East), Mumbai – 400 099, Maharashtra, India
Telephone: +91 22 6707 9999 / 7919
E-mail: rnfi.ipo@choiceindia.com
Website: www.choiceindia.com/merchant-investment-banking
Investor Grievance E-mail: regulator_advisors@choiceindia.com
Contact Person: Nimisha Joshi / Shreya Poddar
SEBI Registration No.: INM000011872
RNFI Services IPO FAQs
What is the lot size of RNFI Services IPO?
The total size of RNFI Services IPO is ₹70.81 crores and this is a complete fresh Issue.
When will RNFI Services IPO start?
RNFI Services IPO will open from 22 July 2024 and IPO will close on 24 July 2024.
What is the open date of RNFI Services IPO?
RNFI Services IPO will open date from 22 July 2024.
What is the last date ( close date ) of RNFI Services IPO?
RNFI Services IPO will close from 24 July 2024.
What is the price band of RNFI Services IPO?
RNFI Services IPO price band is ₹98 to ₹105. ( Upper Price Band: ₹105, Lower Price Band: ₹98 )
What is the minimum amount required to apply for RNFI Services IPO?
The minimum investment for retailers to apply for RNFI Services IPO is ₹126,000 and the maximum investment is ₹126,000.
What is going on gray market premium of RNFI Services IPO?
View gray market premium of RNFI Services IPO by Clicking Here
How much is the GMP of RNFI Services IPO?
Watch RNFI Services IPO GMP Today: Click Here
What is the allotment date of RNFI Services IPO?
The allotment date of RNFI Services IPO is 25 July 2024.
How to check allotment status in RNFI Services IPO?
To check the allotment status of RNFI Services IPO, first of all go to the registrar website by clicking here, select your bad RNFI Services IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of RNFI Services IPO?
The listing date of RNFI Services IPO is 29 July 2024.
How much will be the listing gain in RNFI Services IPO?
View listing gain of RNFI Services IPO by Clicking Here
How much time RNFI Services IPO is subscribed?
Total 221.49 times subscribed in RNFI Services IPO out of which 142.62 times subscription was done in retail quota, 513.31 times subscription in NII quota and 140.66 times subscription in QIB quota.
How to apply for RNFI Services IPO from Upstox?
Click Here to see how to apply for RNFI Services IPO from Upstox. (step by step)
How to apply for RNFI Services IPO from Zerodha?
Click Here to see how to apply for RNFI Services IPO from Zerodha. (step by step)
How to apply for RNFI Services IPO from Angle One?
Click Here to see how to apply for RNFI Services IPO from Angle One. (step by step)
