RNFI Services Limited IPO
NSE SMEListed On: Jul 29, 2024 at ₹ 199.5
₹ 252000 /2400 Shares
*Min Investment
22 Jul, 2024
Open Date24 Jul, 2024
Close Date25 Jul, 2024
Allotment Date29 Jul, 2024
Listing DateRNFI Services Limited IPO Issue Details
- Issue Price ₹98-105 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 67,44,000 shares(aggregating up to ₹70.81 crore)
- Fresh Share 67,44,000 shares(aggregating up to ₹70.81 crore)
- Listing at NSE SME
- List Price 199.5
- Listing Date 2024-07-29
- Lead Manager Choice Capital Advisors Pvt Ltd
- Registrar Skyline Financial Services Private Ltd
Market Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1200 | ₹1,26,000 |
| Retail(max) | 1 | 1200 | ₹1,26,000 |
| NII (min) | 2 | 2,400 | ₹2,52,000 |
RNFI Services Limited IPO Reservation
RNFI Services Limited IPO offers total 6,744,000 shares. Out of which 1,272,000 (18.86%) allocated to QIB, 954,000 (14.15%) allocated to NII,2,226,000 (33.01%) allocated to RII, NA (NA%) allocated to employees and 1,908,000 (28.29%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| 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 Limited IPO Details
RNFI Services Limited IPO is an SME IPO, priced at ₹98-105 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 67,44,000 equity shares, aggregating up to ₹70.81 crores..
The IPO bidding window is open from Jul 22, 2024 to Jul 24, 2024. The allotment is expected to be finalized on Jul 25, 2024, and the tentative listing date is Jul 29, 2024.
The minimum lot size for Retail investors is 1200 shares, with a minimum investment of ₹1,26,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,52,000.
Choice Capital Advisors Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Skyline Financial Services Private Ltd, and Choice Equity Broking Private Limited will act as the market maker for this issue.
RNFI Services Limited IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 1,272,000 / 954,000 | 2,226,000 | 4,452,000 |
Day 1 22-07-24 06:00 PM | 0.00 / 4.08 x | 10.14 x | 5.94 x |
Day 2 23-07-24 06:00 PM | 0.76 / 26.43 x | 36.20 x | 23.98 x |
Day 3 24-07-24 06:00 PM | 140.66 / 513.71 x | 142.62 x | 221.56 x |
RNFI Services Limited Valuations
RNFI Services Limited Company Financials
| 31-Mar-24 | 31-Mar-23 | 31-Mar-22 | |
|---|---|---|---|
| Assets | 19,051.38 | 12,526.71 | 11,661.34 |
| Revenue | 3,200.71 | 2,140.67 | 1,369.32 |
| Profit After Tax | 996.07 | 488.71 | 555.03 |
| Net Worth | 3,159.90 | 2,041.64 | 1,330.24 |
| Reserves & Surplus | 1,350.86 | 2,043.47 | 1,332.07 |
| Total Borrowing | 3,638.87 | 2,118.75 | 1,264.05 |
About RNFI Services Limited Company
An incorporation company, RNFI Services Limited, is a fintech firm founded in 2015 to deliver B2B and B2B2C solutions to users through an online portal and a mobile application. The primary target areas include offering banking, digital, and G2C services throughout India.
Its business is mainly divided into four sectors:
Business correspondent services
Non-business correspondent services
Full-fledged money changer service, and
Insurance broking.
Till date, as of July 2024, the company has partnered with eleven financial institutions, which include National private and public sector banks and payment banks. They are engaged as business correspondents to provide financial inclusion services.
The company has processed more than 115 lakh monthly transactions as of March 31, 2024. As of June 3, 2024, the company operates in more than 28 states and 5 Union territories, covering 17,964 pin codes all over the country through its distribution network. As of March 31, 2024, the company has 1,405 employees on a standalone basis, who play a very significant role in the growth of the company.
So far, as of June 3, 2024, the company has more than 360,000 network partners in the Indian market offering a range of tech-enabled services.
The company renders transactional business correspondent services involving Domestic Money Transfer, Aadhaar Enabled Payment System, and Micro ATM, kiosk banking, and doorstep services for private sector banks to execute e-KYC for prepaid cards and fastags.
Non-business correspondent services of the company include utility and travel-related services, EMI collection, delinquent loan collections, and sale of products and services to meet the needs of our network partners.
RNFI Services Limited - Promoter(s)
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 Limited IPO - Issue Objectives
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 Limited IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| RNFI Services Limited | 5.85 | 5.85 | 17.35 | 19.19 | 40.92 | 6.05 | Consolidated |
| Bls E-services Limited | 4.44 | 4.44 | 47.45 | 55.3 | 11.51 | N/A | Consolidated |
| Mos Utility Limited | 4.17 | 4.17 | 30.1 | 37.15 | 21.37 | N/A | Consolidated |
Notes:
- The P/E Ratio has been computed based on the closing market price of equity shares on NSE on July 5, 2024, divided by the Diluted EPS.
- Return on Net Worth (%) = Net Profit after tax attributable to the owner of the company, as restated for the end of the year divided by Average Net Worth as at the end of the year.
- Average Net Worth means the average of the Net Worth of the current and previous financial year. Net Worth means the aggregate value of the paid-up share capital and other equity (excluding capital reserves) attributable to the owners of the Parent.
- Net Asset Value per share = Net Worth at the end of the year divided by weighted average number of equity shares outstanding during the year.
- The Basic and Diluted Earnings Per Share for the company's Equity Shares have been presented to reflect the adjustments for the issue of bonus shares as per IND AS 33.
Contact Details
RNFI Services Limited
UG-5, Relipay House, Plot No. 42, DLF Industrial Area Kirti Nagar, West Delhi, New Delhi, -110015
+91-8448985100
Registrar Contact Details
Skyline Financial Services Private Ltd
02228511022
RNFI Services Limited IPO - FAQs
Ans. RNFI Services Limited IPO is a SME IPO. The issue is priced at ₹98-105 per equity share. The minimum order quantity is 1200 Shares. The IPO opens on Jul 22, 2024, and closes on Jul 24, 2024. Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Ans. The RNFI Services Limited IPO opens on Jul 22, 2024 and closes on Jul 24, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of RNFI Services Limited IPO is 6,744,000 shares(aggregating up to ₹70.81 Cr).
Ans. The RNFI Services Limited IPO price band is set between ₹98-105 per equity share.
Ans. To apply for RNFI Services Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find RNFI Services Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of RNFI Services Limited IPO is Jul 25, 2024.
Ans. The RNFI Services Limited IPO will be listed on Jul 29, 2024.
Ans. Follow the steps to check the RNFI Services Limited IPO allotment status online.
