RNFI Services IPO Details, GMP Price, Date, Review

RNFI Services IPO details Today : RNFI Services IPO details Today is Open on 22 July 2024 and Close on 24 July 2024. RNFI Services IPO to Raise 67,44,000 shares (Approx ₹70.81 Cr) via IPO. The Fresh issue of 67,44,000 shares (Approx ₹70.81 Cr).

Company Incorporated in 2015 We are a tech enabled platform offering advanced financial technology solutions in B2B and B2B2C financial technology arena through an integrated business model via our online portal and mobile application, focusing on Providing banking, digital and Government to Citizen (“G2C”) services on PAN India basis.

• 3,00,000+ Network Partners
• 28 States Covered
• 5 UTs Covered
• 16,500+ PinCodes Covered

Under our non-business correspondent services we provide

(i) Utilities & travel related services such as mobile and DTH recharge, services relating to Bharat Bill Payments System (“BBPS”)PAN card services Government to Citizen (“G2C”) Services Noida Power Company Limited bill payments services IRCTC booking flight booking services.

(ii) EMI Collection Services.

(iii) delinquent loan collections services.

(iv) sale and subscription of products and services to meet the requirement of our network partners.

We believe that our extensive network size, front-end distribution channels with back-end technology functions, across the payments and remittance solutions, utility payment services and travel services, provide us with a competitive edge.

We segregate our business Primarily into four (4) segments namely

(i) business correspondent services.

(ii) non -business correspondent services.

(iii) full-fledged money changer service.

 (iv) insurance broking.

We 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. We also provide business and income-generating opportunities for shopkeepers and network partners by enabling them to provide banking, digital and government services to the end customers through our web and mobile application via an assisted model.

We have entered into arrangements with eight (8) financial institutions including National Private and Public sector banks, Payment banks wherein we are engaged as their business correspondents for providing financial inclusion services. As a business correspondent, we also provide doorstep services for KYC authentication of the financial institution’s customers for usage of prepaid cards and Fastag service across India.

We started our journey in the year 2015 in the fintech sector with a mission to empower rural India by promoting the accessibility of financial technology with simple and efficient financial solutions and contribute to the development of a DIGITAL BHARAT and a vision to become one of the leading financial solutions provider. Since commencement of our operations.

We attribute our consistent business growth to the industry knowledge and expertise of our management team.

Our Promoters and management team are actively involved in our operations and continues to bring their vision and acumen, which has been instrumental in sustaining our business operations and growth.

Our management has demonstrated their ability to manage and grow our operations and leverage and deepen customer relationships.

RNFI Services IPO Date & Price Band Details

RNFI Services IPO Market Lot Details

Object of the Issue

1. Funding the working capital requirements of the Company.
2. Funding Capital expenditure requirements for the Purchase of Micro ATMs/laptops/Server.
3. Strengthening our technology infrastructure to develop new capabilities.
4. Achieving inorganic growth through unidentified acquisitions and other strategic initiatives.
5. General Corporate Purposes.

RNFI Services IPO Allotment & Listings (Details)

RNFI Services IPO Financial Reports

Our Company Promoters

1. Ranveer Khyaliya
2. Nitesh Kumar Sharma
3. Simran Singh Private Trust

Qualitative Factors

• We have a holistic business model providing all-in-one solution in B2B and B2B2C models. Our wideranging product and service portfolio enables us to spread our business risk and enhance our ability to adapt to changing market conditions.
• We have a technology focused business model with an advanced digital platform.
• We have a asset light and scalable business model as our business strategy revolves around a network partner-centric model that emphasizes lean capital investment for network expansion.
• Our extensive network encompasses a diverse range of participants. As of March 5, 2024, we have a network base of over 3 lakh network partners with presence in 28 States and 5 Union territories.
• Our experienced leadership backed by a skilled professional team continues to contribute to our business’s groth and profitability.

RNFI Services IPO Comparison Listed Industry Peers Group

Comparison of accounting ratios with listed industry peers

• RNFI Services Limited
• BLS E-Services Limited
• Mos Utility Limited

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RNFI Services Company Contact Details

UG-5, Relipay House
Plot No. 42 DLF Industrial Area Kirti Nagar
New Delhi, India, 110015
Telephone: +91-8448985100
Website: www.rnfiservices.com

RNFI Services IPO Registrar

Skyline Financial Services Private Limited
D-153A, 1st Floor, Okhla Industrial Area,
Phase–- I, New Delhi-110020, India
Telephone: +91 11 40450193-97
E-mail: ipo@skylinerta.com
Investor grievance email: grievances@skylinerta.com
Website: www.skylinerta.com
Contact Person: Anuj Rana