RNFI Services Limited IPO (RNFI Services IPO)

RNFI Services Limited IPO
Upcoming RNFI Services IPO | New RNFI Services IPO

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:

  • Business correspondent services;
  • Non-business correspondent services;
  • Full-fledged money changer service; and
  • Insurance broking.

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 IPO

RNFI Services IPO – Details

IPO Opening Date22 July 2024
IPO Closing Date24 July 2024
Issue TypeBook Built Issue IPO
Issue SizeTotal Issue Size: 67,44,000 Shares Worth ₹70.81 Crore
Fresh Issue: 67,44,000 Shares Worth ₹70.81 Crore
Face Value₹10 per equity share
IPO Price₹98 – ₹105 per share
Market Lot1200 Shares
Min Order1200 Shares (1 Lot)
Listing AtNSE SME
RegisterSkyline Financial Services Private Ltd
QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

RNFI Services IPO – Date Schedule

IPO Open Date22 July 2024
IPO Close Date24 July 2024
Credit of Shares to Demat Account25 July 2024
Initiation of Refund26 July 2024
Credit of Shares to Demat Account26 July 2024
IPO Listing Date29 July 2024
Cut-off time for UPI mandate confirmation5 PM on July 24, 2024

RNFI Services IPO – Lots Size & Price

ApplicationLotsSharesAmount
Retail (Min)11200₹1,26,000
Retail (Max)11200₹1,26,000
HNI (Min)22400₹2,52,000

Competitive Strengths

  • The company has a holistic business model providing all-in-one solution in B2B and B2B2C models. RNFI Services wide-ranging product and service portfolio enables company to spread there business risk and enhance the ability to adapt to changing market conditions.
  • The company has a technology focused business model with an advanced digital platform.
  • The company has a asset light and scalable business model as the business strategy revolves around a network partner-centric model that emphasizes lean capital investment for network expansion.
  • The company’s extensive network encompasses a diverse range of participants. As of June 3, 2024, The company has a network base of over 3.60 lakh network partners with presence in 28 States and 5 Union territories.
  • The company’s experienced leadership backed by a skilled professional team continues to contribute to the business’s growth and profitability.

Company Promoters

  • Ranveer Khyaliya
  • Nitesh Kumar Sharma
  • Deepankar Aggarwal
  • Rajan Kumar
  • Krishna Kumar Daga
  • Charanjeet Singh
  • Simran Singh Private Trust

Company Financials

ParticularsTotal RevenueTotal ExpenseProfit After TaxTotal Borrowing
31 March 2022190.79182.985.5511.65
31 March 20231069.391062.854.8819.35
31 March 2024943.05930.039.9632.50
Amount in ₹ Crore

Key Performance Indicator

KPIValues
ROCE29.74%
Debt/Equity1.02
RoNW40.92%
P/BV6.05
PAT Margin (%)1.06
Pre IPOPost IPO
EPS (Rs)5.473.99
P/E (x)19.1926.3

Object Of The Issue

  • Funding the working capital requirements of the Company.
  • Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server.
  • Strengthening the technology infrastructure to develop new capabilities.
  • Achieving inorganic growth through unidentified acquisitions and other strategic initiatives.
  • General Corporate Purposes.
RNFI Services IPO
Object of the Issues

RNFI Services IPO Promoter Holding

Pre Issue Share Holding89.53%
Post Issue Share Holding

RNFI Services IPO Prospectus

Company Contact Information

RNFI Services Limited

UG-5, Relipay House, Plot No. 42
DLF Industrial Area Kirti Nagar,
West Delhi, New Delhi, -110015

Phone: +91-8448985100
Email: cs@rnfiservices.com
Websitehttps://www.rnfiservices.com/

RNFI Services IPO Registrar

Skyline Financial Services Private Ltd

Phone: 02228511022
Email: ipo@skylinerta.com
Websitehttps://www.skylinerta.com/ipo.php

RNFI Services IPO Lead Manager(s)

1. Choice Capital Advisors Pvt Ltd

RNFI Services IPO FAQs

RNFI Services IPO FAQs
What is RNFI Services IPO?

RNFI Services IPO is a SME IPO. The issue is priced at ₹98 to ₹105 per equity share. The IPO is to be listed on NSE SME.
When RNFI Services IPO will open?

The IPO is to open on 22 July 2024 for QIB, NII, and Retail Investors.
What is RNFI Services IPO Investors Portion?

The investors’ portion for QIB – 50%NII – 15%, and Retail – 35%.
How to Apply the RNFI Services IPO?

You can apply RNFI Services IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
How to Apply the RNFI Services IPO through Angle One?

Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “RNFI Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One.
How to Apply the RNFI Services IPO through 5 Paisa?

Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “RNFI Services“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa.
How to Apply the RNFI Services IPO through Upstox?

Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “RNFI Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
How to Apply the RNFI Services IPO through IIFL?

Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “RNFI Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL.
What is RNFI Services IPO Size?

RNFI Services IPO size is ₹70.81 Crore.
What is RNFI Services IPO Price Band?

RNFI Services IPO Price Band is ₹98 to ₹105.
What is RNFI Services IPO Minimum and Maximum Lot Size for retail?

The minimum bid is 1200 Shares with ₹1,26,000 amount while the maximum bid is 1200 Shares with ₹1,26,000.
What is the RNFI Services IPO Allotment Date?

RNFI Services IPO allotment date is 25 July 2024.
What is the RNFI Services IPO Listing Date?

RNFI Services IPO listing date is 29 July 2024. The IPO is to be listed on NSE SME.
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