Rnfi Services Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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RNFI

CMP

155.15

-4.60 (-2.88%)

  • DRHP
₹105

Offer Price

₹ 70.81 Cr

Issue Size

₹ 1,26,000

Min Investment

1,200

Lot size

Time Line

  • 22
    Jul 2024
    Open
  • 24
    Jul 2024
    Close
  • 25
    Jul 2024
    Finalisation of Basis of Allotment
  • 26
    Jul 2024
    Initiation of Refunds
  • 26
    Jul 2024
    Transfer of Shares to Demat Account
  • 29
    Jul 2024
    Listing Date

Objects of the Offer

  • Accelerating growth and increasing its diversity using Micro ATM as a catalyst.

  • Using technology to create greater scalability.

  • Optimize Growth across Business Segments through Integrated Model and Cross-Selling Strategies.

  • Strategic Expansion: Acquisitions and geographic growth.

  • Strengthen its network capabilities.

Products & Services

  • RNFI Services Limited is a tech enabled platform offering advanced financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model.

Strengths

  • We have a holistic business model providing all-in-one solution in B2B and B2B2C models. Its wide-ranging product and service portfolio enables it to spread its business risk and enhance its ability to adapt to changing market conditions.

  • The Company has a technology focused business model with an advanced digital platform.

  • The Company has a asset light and scalable business model as its business strategy revolves around a network partner-centric model that emphasizes lean capital investment for network expansion.

  • Its extensive network encompasses a diverse range of participants. As of March 5, 2024, the company has a network base of over 3 lakh network partners with presence in 28 States and 5 Union territories.

  • Its experienced leadership backed by a skilled professional team continues to contribute to its business`s groth and profitability.

Risks

  • A substantial portion of the revenue is generated from its banking partners. The company`s banking partners are regulated by the RBI and any change in the RBI`s policies, decisions and regulatory framework could adversely affect its business, cash flows, results of operations and financial condition.

  • The company heavily relies on its front-end network partners, if the company is unable to attract new network partners or retain and grow its relationships with the company`s existing network partners, its business, results of operations, financial condition, and future prospects would be materially and adversely affected.

  • The company heavily relies on information technology systems which may be subject to vulnerabilities, disruptions, failures, or data breaches and thus may have the potential to negatively impact both its operations and the company`s reputation. Additionally, its ability to succeed is contingent on the company`s capacity to innovate, update, and adjust to emerging technological advancements.

  • The company derives a portion of its revenue from the fee and commission that its charge from the company`s customers against the company`s services. Any failure to earn revenue from such activities may have a negative impact on its financial performance.

  • The Company, its Subsidiaries, the company`s Promoters and its Directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
89.53%
Pre Holding

89.53%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2024 3-Yr trend
Revenue 188.25 (40.50%) 1,066.59 (466.60%) 935.42 (-12.30%)
Gross Profit 9.27 (-16.40%) 8.54 (-7.90%) 16.81 (96.80%)
Net Income 5.23 (-29.90%) 5.39 (3.10%) 10.64 (97.40%)
Assets 25.81 (2.50%) 41.57 (61.10%) 65.44 (57.40%)
Liabilities 12.39 (-28.50%) 21.04 (69.80%) 33.72 (60.30%)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
RNFI Services Ltd 1,066.59 5.39 41.57 21.04 40.92 539.33 2,053.47 1.19 0.47
BLS E-Services Ltd 243.06 20.33 179.47 179.47 19.01 3.02 16.03 11.32 0.00
MOS Utility Ltd 106.14 5.68 52.48 52.48 21.52 3.72 13.77 10.82 0.30

Book Running Managers

  • Choice Capital Advisors Pvt Ltd

Registrar & Transfer Agent

Skyline Financial Services Pvt

D-153/A 1st Flr,
Okhla Industrial Are,
Phase-I - New Delhi-110020
Phone : 91-11-26812682 Fax: 91-11-30857562

Company Contact Information

UG-5 Relipay House Plot No.42,
DLF Ind.Area K.Nagar WestDelhi,
Delhi - 110015
Phone : +91 844 898 5100 Email : cs@rnfiservices.com www.rnfiservices.com

Offer Related Information

Initial public offer of up to 67,44,000 equity shares of face value Rs. 10 each (the "Equity Shares") of RNFI Services Limited ("The Company" or the "Issuer") for cash at a price of Rs. 105 per equity share (including securities premium of Rs. 95 per equity share) ("Issue Price"), aggregating up to Rs. 70.81 crores (the "Issue") of which 3,84,000 equity shares aggregating to Rs. 4.03 crores (constituting up to 1.54% of the post-issue paid-up equity share capital of the company) will be reserved... More

RNFI FAQ's

The shares of RNFI were first listed on the stock exchanges on June 26, 2024.

The total issue size of the RNFI IPO was 1,10,00,000 shares, amounting to Rs. 132 crore. they

The minimum lot size for RNFI public issue was 125 shares.

The price band of the IPO of RNFI was Rs. 114 to Rs. 120 per equity share.

RNFI IPO is a public issue through which the company raised approximately Rs. 132 crore by issuing around 1.1 crore equity shares to the public. After a successful IPO, the company’s shares are currently listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), where they are freely traded without restrictions.

Bigshare Services Private Limited is the registrar and share transfer agent of RNFI IPO.

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