The RNFI Services IPO will be available for subscription from Monday, July 22, until Wednesday, July 24. The share price is set between ₹98 and ₹105, with a minimum bid of 1,200 shares.
Here’s a breakdown of the share allocation:
- Qualified Institutional Buyers (QIBs): 12,72,000 shares
- Non-Institutional Investors (NIIs): 9,54,000 shares
- Retail Individual Investors (RIIs): 22,26,000 shares
- Market Makers: 3,84,000 shares
RNFI Services is a tech-driven platform offering digital, banking, and government-to-citizen (G2C) services across India. They operate in four main areas: business correspondent services, non-business correspondent services, full-service money changing, and insurance broking.
In FY24, RNFI Services reported sales of ₹93,542.38 lakhs, EBITDA of ₹1,923.88 lakhs, and a profit of ₹996.07 lakhs.
The IPO aims to raise ₹70.81 crore through the issuance of 6,744,000 new shares. The proceeds will be used for working capital, tech infrastructure, acquisitions, and general corporate purposes.
Key Players:
- Lead Manager: Choice Capital Advisors Private Ltd
- Registrar: Skyline Financial Services Private Ltd
RNFI Services’ Chairman and MD, Ranveer Khyaliya, expressed excitement about the IPO, emphasizing their mission to bring financial technology solutions to underserved rural areas in India. The funds will help expand services and strengthen their network.
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