RNFI Services IPO (Relipay): All You Need To Know About This IPO

• RNFI Services IPO is a book-built issue of Rs 70.81 crores.
• This upcoming IPO bidding opens on July 22 and closes on July 24, 2024.
• RNFI Services SME IPO price band is set at Rs 98 to Rs 105 per share.
• The Minimum investment required Rs 1,26,000.

RNFI Services IPO: Synopsis

RNFI Services IPO is open for subscription starting Monday, July 22, 2024, and closing on Wednesday, July 24, 2024. This upcoming IPO's price is set as Rs 98 to Rs 105 per share. The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. 

The minimum investment required for retail category investors is Rs 1,26,000 ( 105 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,52,000 (105 x 2400 shares). 

RNFI Services IPO is a book-built issue of Rs 70.81 crores. This upcoming IPO is an entirely fresh issue of 67.44 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, July 25, 2024. RNFI Services IPO will be listed on NSE SME on Monday, July 29, 2024. 

Choice Capital Advisors Private Limited is the book-running lead manager, and Skyline Financial Services Private Limited is the registrar. Choice Equity Broking are the market makers for this IPO.

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RNFI Services IPO: About the Company

RNFI Services Limited, incorporated in 2015, 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 services in the Indian states. 

RNFI's business is majorly divided into four categories – Business correspondent services, Non-business correspondent services, Full-fledged money changer service and Insurance Broking.

The company has partnered with 11 financial institutions, including National private and public sector banks and payment banks. These institutions are engaged as business correspondents to provide financial inclusion services. 

They provide transactional business correspondent services, including Domestic Money Transfer, Aadhaar-enabled Payment System, 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 collection, and product and service sales to meet our network partners' needs.

RNFI Services IPO: Objectives

The amount raised through this public offer will be allocated to meeting the company's working capital needs and funding capital expenditures for the purchase of Micro ATMs, Laptops, and servers. 

The money will also be used to strengthen the technology infrastructure to develop new capabilities, Achieve inorganic growth through unidentified acquisitions and other strategic initiatives, and for general corporate purposes. 

RNFI Services IPO: Other Important Details

Time-Table of RNFI Services IPO

RNFI Services IPO: Financial Metrics (Amt in Rs Lakhs)

RNFI Services posted revenue of Rs 3,200.71 lakhs and net profit of Rs 996.07 lakhs for the period ending on 31 Mar 2024. The company’s revenue increased by 49.52% and PAT increased by 103.82% between the financial year ending with 31 Mar 2024 and 31 Mar 2023.

Minimum Investment: Lot Size Details 

Promoters of RNFI Services Limited and Their Holdings

The promoters of RNFI Services company are Ranveer Khyaliya, Nitesh Kumar Sharma, Deepankar Aggarwal, Rajan Kumar, Krishna Kumar Daga, Charanjeet Singh and Simran Singh Private Trust. The promoters shareholdings before IPO is 89.53% but after the IPO the shareholdings are available.

RNFI Services: Strength of Company

1. RNFI Services is a financial technology firm that offers B2B and B2B2C solutions.

2. The company focuses on providing banking, digital, and Government-to-Citizen services.

3. RNFI’s debt-to-equity ratio is 1.02, ROCE is 29.74%, PB ratio is 6.05. 

FAQs

1. What are the details of the RNFI Services IPO?

RNFI Services IPO is a book-built issue of Rs 70.81 crores. This upcoming IPO is an entirely fresh issue of Rs 67.44 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, July 25, 2024. 

2. Who are the lead managers for the RNFI Services IPO?

Choice Capital Advisors Private Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Skyline Financial Services in this IPO?

Skyline Financial Services Private Limited is the registrar for RNFI Services Limited, handling the IPO's administrative aspects.

4. How can I apply for the RNFI Services IPO?

The public subscription of this new IPO will open on July 22, 2024. Click here to initiate the application process.

5. How will the net proceeds from the IPO be utilised?

The amount raised through this public offer will be allocated for meeting the company's working capital needs, funding the capital expenditure for the purchase of Micro ATMs, Laptop, servers. The money will be also used for strengthening the technology infrastructure to develop new capabilities.

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the RNFI Services Limited IPO by visiting here. For further updates follow Bigul. 

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