RNFI Services is a tech-enabled platform offering financial technology solutions in the B2B and B2B2C financial technology arena through an integrated business model via their online portal and mobile application, focusing on providing banking, digital, and Government to Citizen (G2C) services on PAN India basis. They segregate their business primarily into four (4) segments namely (i) business correspondent services; (ii) non-business correspondent services; (iii) full-fledged money changer service; and (iv) insurance broking. As of the date of this Red Herring Prospectus, they are providing full-fledged money changer service through their Material Subsidiary (wholly owned), namely RNFI Money Private Limited which is RBI registered full-fledged money changer (FFMC) and insurance broking service through their wholly-owned Subsidiary, namely Reliassure Insurance Brokers Private Limited which is registered as a direct broker (Life and General) with IRDAI.
They act as a bridge to ensure the availability of tech-enabled financial services throughout the country, including to the underserved population in remotest of the places by connecting them to formal financial channels. They also provide business and income-generating opportunities for shopkeepers and network partners by enabling them to provide banking, digital, and government services to end customers through their web and mobile applications via an assisted model. As of the date of this RHP, they have entered into arrangements with eleven (11) financial institutions including National Private and Public sector banks and payment banks wherein they are engaged as their business correspondents for providing financial inclusion services. As a business correspondent, they also provide doorstep services for KYC authentication of the financial institution’s customers for usage of prepaid cards and Fastag service across India.
Objects of the Issue:
- Funding the working capital requirements of the Company
- Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server
- Strengthening our technology infrastructure to develop new capabilities
- Achieving inorganic growth through unidentified acquisitions and other strategic initiatives
- General Corporate Purposes
RNFI Services IPO Review
- May Apply
RNFI Services IPO Date & Price Band Details
| IPO Open: | July 22, 2024 |
| IPO Close: | July 24, 2024 |
| IPO Size: | Approx ₹70.81 Crores, 67,44,000 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹98 to ₹105 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 35% of the net offer |
| QIB Quota: | 50% of the net offer |
| NII Quota: | 15% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
RNFI Services IPO Market Lot
The RNFI Services IPO minimum market lot is 1200 shares with a ₹126,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1200 | ₹126,000 |
| Retail Maximum | 1 | 1200 | ₹126,000 |
| S-HNI Minimum | 2 | 2400 | ₹252,000 |
RNFI Services IPO Dates
The RNFI Services IPO date is July 22 and the IPO close date is July 24. The IPO allotment date is July 25 and the IPO might list on July 29.
| IPO Open Date: | July 22, 2024 |
| IPO Close Date: | July 24, 2024 |
| Basis of Allotment: | July 25, 2024 |
| Refunds: | July 26, 2024 |
| Credit to Demat Account: | July 26, 2024 |
| IPO Listing Date: | July 29, 2024 |
You can check IPO subscription status and IPO allotment status on their respective pages.
RNFI Services IPO Form
How to apply RNFI Services IPO? You can apply RNFI Services IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the RNFI Services IPO in the Invest section. The other option you can apply RNFI Services IPO via IPO forms download via the NSE website. Check out the RNFI Services forms – click NSE IPO Forms download, fill and submit in your bank or with your broker.
RNFI Services Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹190.80 | ₹182.99 | ₹5.55 |
| 2023 | ₹1069.40 | ₹1062.86 | ₹4.89 |
| 2024 | ₹943.05 | ₹930.03 | ₹9.96 |
RNFI Services IPO Valuation – FY2024
Check RNFI Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹5.85 per Equity Share |
| Price/Earning P/E Ratio: | 16.75 |
| Return on Net Worth (RoNW): | 40.92% |
| Net Asset Value (NAV): | ₹17.35 per Equity Share |
Peer Group
- BLS E-Services Limited
- Mos Utility Limited
Company Promoters
- Ranveer Khyaliya
- Nitesh Kumar Sharma
- Deepankar Aggarwal
- Rajan Kumar
- Krishna Kumar Daga
- Charanjeet Singh
- Simran Singh Private Trust
RNFI Services IPO Registrar
Skyline Financial Services Pvt Ltd
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
RNFI Services IPO Allotment Status
Check RNFI Services IPO allotment status on Skyline Financial website URL. Click Here
RNFI Services IPO Lead Managers aka Merchant Bankers
- Choice Capital Advisors Private Limited
Company Address
RNFI Services Limited
UG-5, Relipay House, Plot No. 42,
DLF Industrial Area Kirti Nagar, West Delhi,
New Delhi, Delhi, India, 110 015
Phone: +91 844 898 5100
E-mail: cs@rnfiservices.com
Website: www.rnfiservices.com
