RNFI Services Limited

22 Jul 2024 - 24 Jul 2024 Individual Category SME NSE

Min Investment

₹126000

Price Band

₹98-₹105

Issue Size

48.36 lakhs
Equity Shares

Lot Size

1200

IPO Dates
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22 Jul 2024

Open Date

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24 Jul 2024

Close Date

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25 Jul 2024

Allotment Date

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29 Jul 2024

Listing Date

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.

Founded

2015

Managing Director

Ranveer Khyaliya

Parent Organization

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. 

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0

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