RNFI Services was incorporated on October 13, 2015. The company is a tech-enabled platform offering financial technology solutions in the B2B and B2B2C financial technology arena through an integrated business model via the online portal and mobile application, focusing on providing banking, digital, and government-to-citizen services on a PAN Indian basis.
| Bidding Dates |
|---|
| 22 Jul 2024 - 24 Jul 2024 |
| Subscription |
|---|
| 212.56x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,17,600 | 1 | 1 | 1200 | 6.7 M | ₹98 - ₹105 | 65.34 % | ₹660.9 M - ₹708.1 M | RHP DOC |
RNFI Services IPO SUBSCRIPTION STATUS
24 Jul '24RNFI Services IPO overall subscription rate was 212.56 times the total available shares
RNFI Services IPO retail subscription rate was 210.79 times in the retail segment
RNFI Services IPO non-institutional investor subscription rate was 678.54 times in the non-institutional investor category
RNFI Services IPO Qualified Institutional Bidder subscription rate was 74 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Jul 2024 (Day 3) | 210.79x | 678.54x | 74x |
23 Jul 2024 (Day 2) | 46.75x | 35.15x | 0.4x |
22 Jul 2024 (Day 1) | 12.83x | 5.28x | 0x |
RNFI Services FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 99.6 | 9,354.2 | 470.8 | 184.7 | 2.1% |
| FY23 | 48.9 | 10,665.9 | -200.9 | -273.6 | 0.9% |
| FY22 | 55.5 | 1,882.5 | 201.7 | 164.0 | 5.2% |
RNFI Services IPO SUBSCRIPTION STATUS DETAILS
RNFI Services had 6.7 M shares on offer
RNFI Services IPO offer price was in the range ₹98 - ₹105
RNFI Services IPO minimum Investment was ₹117600
RNFI Services IPO issue size was ₹ 660.9 M - ₹ 708.1 M
RNFI Services had a minimum lot size of 1200 Shares per application
RNFI Services NUMBER OF SHARES ON OFFER
RNFI Services IPO IMPORTANT DATES
| Issue Open Date | 22 Jul 2024 |
| Issue close Date | 24 Jul 2024 |
| Allotment Date | 25 Jul 2024 |
| Refund Date | 26 Jul 2024 |
| Demat Account Credit Date | 26 Jul 2024 |
| Listing Date | 29 Jul 2024 |
| Listing on Exchange(s) | NSE |
| RNFI Services Allotment Status | Exchange |
RNFI Services IPO subscription opened on 22 Jul 2024, and closed on 24 Jul 2024
IPO allotment for RNFI Services was finalized on Thursday, 25 Jul 2024
IPO listing for RNFI Services was on NSE on Monday, 29 Jul 2024
RNFI Services IPO LISTING GAINS
| Issue Price (adjusted) | 105.0 |
| Listing Open Price | 199.5 |
| Listing Close Price | 189.6 |
| Listing Gain% | 90.0% |
| Current Gain% | 167.4% |
RNFI Services Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RNFI Services Ltd. | 280.8 | 700.5 | 24.6 | 0.7 | 0.7 | 17.1 | 8 | 973.9 | 5.5 | 29 | 59.3 | 11.4 | 34.5 |
| Crisil Ltd. | 4607 | 33691 | 38.1 | 1.8 | 8.2 | 25.2 | 16.5 | 3755.6 | 12.1 | 766 | 12 | 120.9 | 21.5 |
| Central Depository Services (India) Ltd. | 1328 | 27755.2 | 58.9 | -12.4 | 23.5 | 23.3 | 18.8 | 1238.5 | 3.3 | 456.1 | -13.4 | 22.5 | -4.8 |
| IIFL Finance Ltd. | 611.8 | 26022.7 | 12.4 | 0 | 1.8 | 11.9 | 1.9 | 13373.8 | 30.6 | 1660.8 | 338.5 | 49.4 | 548.8 |
| National Securities Depository Ltd. | 821.2 | 16424 | 42.3 | 4.5 | 9.5 | 16 | 9.9 | 1660.2 | 8.1 | 379.7 | 10.7 | 19.4 | 9.4 |
| KFIN Technologies Ltd. | 936 | 16178.4 | 47.4 | -1147.9 | 11.7 | 20.5 | 12.4 | 1343.9 | 19.1 | 343.7 | 3.3 | 19.8 | 0 |
RNFI Services INFORMATION ON IPO ISSUE
About RNFI Services
RNFI Services was incorporated on October 13, 2015. The company is a tech-enabled platform offering financial technology solutions in the B2B and B2B2C financial technology arena through an integrated business model via the online portal and mobile application, focusing on providing banking, digital, and government-to-citizen services on a PAN Indian basis.
Object of the Issue
- Funding the working capital requirements of the company
- Funding capital expenditure requirements for the purchase of micro ATMs/laptops/server
- Strengthening the technology infrastructure to develop new capabilities
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives
- General corporate purposes
RNFI Services - PROMOTERS
| Name |
|---|
| Ranveer Khyaliya |
| Nitesh Kumar Sharma |
| Deepankar Aggarwal |
| Rajan Kumar |
| Krishna Kumar Daga |
| Charanjeet Singh |
| Simran Singh Private Trust |
RNFI Services Lead Manager of the Issue
Choice Capital Advisors Private Limited
rnfi.ipo@choiceindia.com
RNFI Services Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
RNFI Services Strengths
Holistic business model
The company provides all-in-one solutions for B2B and B2B2C with a wide-ranging product and service portfolio. It is a tech-enabled platform offering financial technology solutions through its online portal and mobile application, offering diverse services
Asset light
The company's business strategy revolves around a network partner-centric model that emphasizes lean capital investment for network expansion. This arrangement lowers the operating expenses and extends reach into diverse markets
RNFI Services Risks
Legal proceedings
The company, its subsidiaries, its promoters, and directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations, and financial condition
Negative cash flows
The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on the business, prospects, financial condition, cash flows, and results of operations
IPO FAQs
The promoters of the company are Ranveer Khyaliya, Nitesh Kumar Sharma, Deepankar Aggarwal, Rajan Kumar, Krishna Kumar Daga, Charanjeet Singh and Simran Singh Private Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 98.0 - 105.0.
The IPO application opens on Jul 22, 2024 and closes on Jul 24, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 117,600.0, the maximum value for this IPO is Rs 126,000.0.
This IPO will be allotted on Jul 25, 2024.
The refund will be credited to your account on Jul 26, 2024.
The allotted shares will be credited to your demat on Jul 26, 2024.
RNFI Services Ltd.’s shares listed on the stock exchanges on Jul 29, 2024.