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RNFI Services Limited

SME

Issue Price

₹ 98-₹ 105

per equity share

Issue Size

48.36 lakhs

equity share

Face Value

₹ 10

per equity share

Market Lot

1200

equity share

Please note

Listing at NSE

RNFI Services Limited

Important Dates

IPO Open Date

22 Jul 2024

IPO Close Date

24 Jul 2024

Allotment Date

25 Jul 2024

Initiation of Refunds

26 Jul 2024

Credit of Shares to Demat Account

26 Jul 2024

IPO Listing Date

29 Jul 2024

UPI Mandate Expiry Date

24 Jul 2024

IPO Details

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 Rs 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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About RNFI Services Limited

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.

Parent Organisation

-

Founded

2015

Managing Director

Ranveer Khyaliya

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. 

How to apply for IPO

  • Login to your Bigul account and select the issue in the current IPO section
  • Enter the number of lots and price at which you wish to apply for
  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
  • You will receive a mandate notification to block funds in your UPI app
  • Approve the mandate request on your UPI and funds will be blocked
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