Trending News on RNFI Services IPO Allotment: Check Your Status with This Step-by-Step Guide
After receiving a strong response from investors between July 22 and July 24, the allotment process for RNFI Services is now in focus.
The RNFI Services IPO allotment is expected to be finalized today. Investors can check their allotment status through the registrar, Skyline Financial Services Private Ltd.
With the retail category being oversubscribed, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, RNFI Services will start the refund process for the application money on July 26, 2024.
Concurrently, allotted shares will be credited to investors’ demat accounts on the same day following the refund process. RNFI Services is an SME IPO, with shares expected to be listed on the NSE SME platform, tentatively scheduled for July 29, 2024.
Steps to Check RNFI Services IPO Allotment Status:
If you have applied for the RNFI Services IPO, you can check your allotment status on the registrar’s website.
Use the Skyline Financial Services URL, https://www.skylinerta.com/ipo.php to log in and check your status.
- Click the link above to visit the RNFI Services IPO page.
- Select the IPO from the dropdown menu; the name will appear once the allocation is complete.
- Choose the PAN, Demat Account, or Application Number to view the status.
- The screen will display the IPO status and the total number of shares allotted to you.
About RNFI Services:
The company is a technology-driven platform offering financial solutions in both B2B and B2B2C segments through an integrated model via its online portal and mobile application. It provides a wide range of services, including banking, digital, and government-to-citizen (G2C) services across India.
Its operations are divided into four main segments: business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking.
RNFI Services connects underserved areas to formal financial systems, offering business and income opportunities for shopkeepers and network partners by enabling them to provide banking, digital, and government services to customers through its web and mobile applications.
As of March 31, 2024, it processes over 11.5 million transactions monthly and operates in over 28 states and 5 Union Territories, covering 17,964 pin codes across the country, according to the company’s DRHP report.
RNFI Services IPO Details:
The IPO size of RNFI Services was ₹70.18 crore, consisting of 67.44 lakh newly issued shares. The IPO price was set in the range of ₹98 to ₹105 per share. Choice Capital Advisors Pvt Ltd. is the book-running lead manager of the RNFI Services IPO, and the market maker is Choice Equity Broking.
The company plans to use the funds for several key purposes: meeting its working capital needs, financing capital expenditures like the purchase of micro-ATMs, laptops, and servers, and enhancing its technology infrastructure to develop new capabilities. Additionally, the company will utilize funds for strategic acquisitions and other initiatives, as well as for general corporate purposes.
RNFI Services IPO Subscription Status:
The RNFI Services IPO saw strong demand, being subscribed over 221 times. In monetary terms, the IPO attracted bids worth ₹10,353.97 crore.
The retail category was subscribed 142 times, with bids for 31,74,75,600 shares against the offered 2,226,000 shares, according to Chittorgarh. The NII and QIB portions were subscribed 513 and 140 times, respectively.
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