RNFI Services IPO Allotment Status

How to check RNFI Services IPO allotment status 

How to check the allotment status in this case? Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status directly on the website of the IPO registrar, Skyline Financial Services Limited. Here are the steps that you need to follow to check allotment status.

RNFI Services IPO Allotment Date, July 25, 2024

Check RNFI Services IPO allotment status on Skyline Financial Services 

Visit the Skyline Financial Services Limited (IPO registrar to RNFI Services website for IPO status by clicking on the link below:

https://www.skylinerta.com/ipo.php

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment status checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there is also a way to access this page via the home page of Skyline Financial Services Ltd by clicking on the “Allotment Status” link displayed prominently on the home page. It all works the same.
This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for RNFI Services. At that point, you can go and select the company RNFI IPO from the drop-down box. The allotment status will be finalized on 25th July 2024, so in this case, you can access the details on the registrar website either late on 25th July 2024 or by middle of 25rd July 2024. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO of RNFI Services.

• Firstly, you can query for the application status based on your mapped Income Tax PAN number. Once you select PAN (permanent account number) radio button, enter your 10-digit PAN number, which is an alphanumeric code. The first 5 characters are alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Submit Button.

• Secondly, you can query for the application status based on your Application Number / CAF Number. Once you select the Application Number (radio button) from the dropdown menu, enter your application number as it is given in the CAF acknowledgment given to you. Double-check to ensure that you are entering the right application number. Once the application number is entered and verified, ensure to click the Submit Button to get the allotment status output.

• Thirdly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP ID and customer ID as it is. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that, you can click the Submit Button in both cases.

You can follow any of the options above. The IPO status with the number of shares of RNFI Services allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 26th July 2024 or after that. These shares would be credited to your demat account. 
In case you have any issues with the output or any complaint, you can reach out to  Skyline Financial Services Securities (registrars to the issue) by email of phone. You can send an email with your complaint details to https://www.skylinerta.com/ or you can also call 02228511022 and explain the issue after appropriately authenticating yourself.

How allocation quota and subscription impact the basis of allotment

Here is a quick look at how the allocation was made across different categories of investors. This is the first factor that impacts the investor’s chances of allotment in the IPO.
 

Data Source: NSE

RNFI Services IPO subscribed 221.49 times. The public issue subscribed 142.62 times in the retail category, 140.66 times in QIB, and 513.31 times in the NII category by July 24, 2024, 5:39:58 PM.
The oversubscription numbers are exclusive of the market maker portion, which is intended to provide liquidity with low bid-ask spreads for the investors and it is also exclusive of the anchor allocation portion to give a proper picture of the extent of oversubscription of the public portion of the IPO. The subscription numbers are very strong, which would logically reduce chances of getting an allotment.

About RNFI IPO

The RNFI Services IPO is a book-built issue worth Rs 70.81 crores, consisting entirely of a fresh issue of 67.44 lakh shares. Open for subscription from July 22, 2024, to July 24, 2024, the allotment is expected to be finalized on Thursday, July 25, 2024. The shares will list on the NSE SME with a tentative listing date of Monday, July 29, 2024.
Priced between ₹98 to ₹105 per share, the IPO requires a minimum application of 1200 shares, amounting to ₹126,000 for retail investors. High Net Worth Individuals (HNIs) must invest in at least 2 lots (2,400 shares), totaling ₹252,000. Choice Capital Advisors Pvt Ltd is the book-running lead manager, and Skyline Financial Services Private Ltd is the registrar. The market maker for the IPO is Choice Equity Broking. 

The RNFI Services IPO funds will be used to cover working capital needs, purchase Micro ATMs, laptops, and servers, enhance technology infrastructure, support growth through acquisitions and strategic initiatives, and for general corporate purposes.

Next steps after the closure of the IPO of RNFI Services 

The issue opened for subscription on July 22, 2024, and closes for subscription on July 24, 2024 (both days inclusive). The basis of allotment will be finalized on July 25, 2024, and the refunds will be initiated on July 26, 2024. In addition, the demat credits are expected to also happen on July 26, 2024, and the stock will list on July 29, 2024 on the NSE SME IPO segment. The credits to the Demat account to the extent of shares allotted will happen by the close of July 25, 2024.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting an allotment. Normally, the higher the subscription ratio, the lower the chances of allotment and vice versa. In this case, the subscription levels have been fairly strong in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of the allotment is finalized.