RNFI Services Limited, or Relipay, is a New Delhi-based fintech company that will open its IPO on 22nd July 2024. RNFI’s aim is to raise up to ₹70.81 crore through this IPO issue. The Share Price Of RNFI IPO is ₹98-₹105. RNFI Services Limited’s IPO has the potential to gain a lot of attention with its forthcoming IPO. An IPO is a unique opportunity for anyone interested in purchasing the stocks of a company that has good prospects for development. Here is a one-stop guide to the RNFI Services IPO, its dates, details, and everything else you need to know.
RNFI Services Limited IPO listed on NSE upto 88% gains.
Table of Contents
RNFI Services IPO Details (Offer closed)
| IPO Date | July 22, 2024 to July 24, 2024 |
| Listing Date | July 29, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹98 to ₹105 per share |
| Overall Subscription | 221.49x |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,744,000 shares (aggregating up to ₹70.81 Cr) |
| Fresh Issue | 6,744,000 shares (aggregating up to ₹70.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,82,08,688 |
| Share holding post issue | 2,49,52,688 |
| Market Maker portion | 3,84,000 shares |
RNFI Services Limited IPO GMP Today
The overall subscription rate of the IPO reached 221.49 times. Which shows the good interest of the investors into the IPO. Based on subscription rates, the expected Grey Market Premium of the RNFI Services Limited IPO is ₹91. The estimated listing price of the RNFI Services IPO is ₹98 to ₹105 per share (RNFI Share Price is ₹98-₹105). This price combines the cap price and today’s GMP. This table shows the RNFI IPO’s GMP trend from the previous days.
RNFI IPO’s share listed at ₹199.50 at 90% premium .
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| GMP Date | IPO Price | GMP Price |
| July 29, 2024 | ₹98-₹105 | ₹91 |
| July 28, 2024 | ₹98-₹105 | ₹42 |
| July 27, 2024 | ₹98-₹105 | ₹40 |
| July 26, 2024 | ₹98-₹105 | ₹40 |
| July 25, 2024 | ₹98-₹105 | ₹45 |
| July 24, 2024 | ₹98-₹105 | ₹21-₹39 |
| July 23, 2024 | ₹98-₹105 | ₹33 |
| July 22, 2024 | ₹98-₹105 | ₹35 |
| July 21, 2024 | ₹98-₹105 | ₹30-₹40 |
| July 20, 2024 | ₹98 to ₹105 | ₹25-₹45 |
| July 19, 2024 | ₹98 to ₹105 | N/A |
RNFI Services IPO: Important Dates
All the important dates regarding RNFI IPO are mentioned below. Mark them in your calendar so you don’t miss any events.
RNFI Timelines for IPO (Tentative)
The RNFI Services IPO will begin on July 22, 2024 and end on July 24, 2024.
| IPO Open Date | Monday, July 22, 2024 |
| IPO Close Date | Wednesday, July 24, 2024 |
| Basis of Allotment | Thursday, July 25, 2024 |
| Initiation of Refunds | Friday, July 26, 2024 |
| Credit of Shares to Demat | Friday, July 26, 2024 |
| Listing Date | Monday, July 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 24, 2024 |
RNFI Services IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
RNFI Services Limited IPO Lot size
Minimum lot size that any investor can place a bid is 1200 shares and the bid can be placed in multiples of 1200 shares. The below table enumerates the minimum and maximum share investments by retail investors and HNI both in terms of shares and amount.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
RNFI Services IPO Anchor Investors Details
RNFI Services Limited IPO touches Rs 20.03 crores as for the anchor investors. RNFI Services IPO Anchor bid date is July 19, 2024.
| Bid Date | July 19, 2024 |
| Shares Offered | 1,908,000 |
| Anchor Portion Size (In Cr.) | 20.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 23, 2024 |
RNFI Services IPO Promoter Holding
The promoters in the company are Ranveer Khyaliya, Nitesh Kumar Sharma, Deepankar Aggarwal, Rajan Kumar, Krishna Kumar Daga, Charanjeet Singh and Simran Singh Private Trust.
| Share Holding Pre-Issue | 89.53% |
| Share Holding Post Issue |
RNFI Services Limited Company Financial Information (Restated Consolidated)
RNFI Services Limited’s revenue decreased was a -11.81% and profit after tax (PAT) also increased at a growth rate of 103.82 % within the Financial Year ending March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 19,051.38 | 12,526.71 | 11,661.34 |
| Revenue | 94,305.10 | 106,939.62 | 19,079.93 |
| Profit After Tax | 996.07 | 488.71 | 555.03 |
| Net Worth | 3,159.90 | 2,041.64 | 1,330.24 |
| Reserves and Surplus | 1,350.86 | 2,043.47 | 1,332.07 |
| Total Borrowing | 3,638.87 | 2,118.75 | 1,264.05 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of the RNFI Services IPO is Rs 262 crore.
KPI as of March 31, 2024.
| KPI | Values |
| ROCE | 29.74% |
| Debt/Equity | 1.02 |
| RoNW | 40.92% |
| P/BV | 6.05 |
| PAT Margin (%) | 1.06 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 5.47 | 3.99 |
| P/E (x) | 19.19 | 26.3 |
Note:
- The Pre IPO EPS is calculated as Pre issue shareholding as on date of RHP and latest FY earning as March 31, 2024 available in RHP.
- Post Issue EPS is determined with the Post issue shareholding and annualized FY earnings of March 31, 2024, as provided in RHP.
Objects of the Issue (RNFI Services Limited IPO Objectives)
The net proceeds of the Issue, i. e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue (“Net Proceeds”) are proposed to be utilised for the following objects:
- Financing working capital needs of the Company
- Financial capital Capital expenditure on the acquisition of Micro ATMs/laptops/Server
- Building on the existing technological foundation to create new strengths
- Inorganic growth by undefined acquisitions and other growth strategies
- General Corporate Purposes
RNFI Services IPO Review (Apply)
The business of the company is based on fintech solutions on B2B and B2B2C models but it has paid a significant attention to retail money exchange platform which paid off. Taking into consideration this year’s forecasted earning, this issue seems fully priced. Based on brighter outlook and the possibilities of expansion of performance, investors can consider keeping their money for medium to long term returns.
RNFI Services Limited Contact Details
RNFI Services Limited
UG-5, Relipay House, Plot No. 42
DLF Industrial Area, Kirti Nagar,
West Delhi, New Delhi, 110015
Email: [email protected]
Website: https://www.rnfiservices.com/
Conclusion
The RNFI Services Limited IPO is one of the best chances that investors should take to be a part of a successful venture. With a detailed timetable and definite conditions of investing, one should be aware of changes and act accordingly.
To learn more about such new initiatives, stay tuned with The Invest Advisory for more details and make sure that you engage within the stipulated time in order to tap into this investment opportunity.