rnfi-services-ltd-ipo

RNFI Services Ltd IPO IPO

  • Status: Closed
  • ₹ 117,600 / 1200 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    29 Jul 2024

  • Listing Price

    ₹ 199.50

  • Listing Change

    103.57%

  • Last Traded Price

    ₹ 145.90

IPO Details

  • Open Date

    22 Jul 2024

  • Close Date

    22 Jul 2024

  • IPO Price Range

    ₹ 98

  • IPO Size

    ₹ 66.09 - 70.81 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    29 Jul 2024

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RNFI Services Ltd IPO IPO Subscription Status

RNFI Services IPO is a book built issue of Rs 70.81 crores. The issue is entirely a fresh issue of 67.44 lakh shares.

RNFI Services IPO bidding started from July 22, 2024 and ended on July 24, 2024. The allotment for RNFI Services IPO was finalized on Thursday, July 25, 2024. The shares got listed on NSE SME on July 29, 2024.

 

RNFI Services IPO price band is set at ₹98 to ₹105 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹252,000.

  • Funding the company's working capital and capital expenditures for purchasing micro ATMs, laptops, and servers.

  • Enhancing its technological infrastructure to create new capacities.

  • Creating inorganic expansion through unknown acquisitions and other strategic activities.

  • General business objectives.

Incorporated in 2015, 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 compan

Strengths

  • Its holistic business model offers a comprehensive solution for both B2B and B2B2C, with a diverse variety of products and services.

  • A technology-driven company approach with a sophisticated digital platform.

  • Experienced leadership supported by a talented professional team

  • Asset-light and scalable business approach.

  • A diverse distribution network extends across PAN India.

Risks

  • Its banking partners contribute significantly to its revenue. The RBI regulates its banking partners, and any changes to its policies, decisions, or regulatory framework might harm its business, cash flows, operations, and financial conditions.

  • Its reliance on IT systems can be badly impacted by vulnerabilities, difficulties, failures, or data breaches, thereby harming both operations and reputation. The company’s success depends on its ability to innovate, update, and adapt to new technologies.

  • It generates revenue by charging clients fees and commissions for its services. Failure to generate money from such operations may negatively damage its financial performance.

  • Security breaches and failures to protect personal, secret, and proprietary information could harm its reputation and negatively impact its business, financial situation, and operations.

  • They have had negative cash flows from operations and may continue to do so, which might negatively affect their business, prospects, financial standing, cash flows, and results.

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FAQs

RNFI Services IPO is a SME IPO of 6,744,000 equity shares of the face value of ₹10 aggregating up to ₹70.81 Crores. The issue is priced at ₹98 to ₹105 per share. The minimum order quantity is 1200 Shares.

The IPO opens on July 22, 2024, and closes on July 24, 2024.

Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The RNFI Services IPO opens on July 22, 2024 and closes on July 24, 2024.

RNFI Services IPO lot size is 1200 Shares, and the minimum amount required is ₹126,000.

You can apply in RNFI Services IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. 

The finalization of Basis of Allotment for RNFI Services IPO will be done on Thursday, July 25, 2024, and the allotted shares will be credited to your demat account by Friday, July 26, 2024.

The RNFI Services IPO listing date is on July 29, 2024.