RNFI SERVICES LIMITED (NSE SME)
Jul 22, 2024 - Jul 24, 2024
| Price | ₹98 - ₹105 |
| Premium | ₹89 |
|---|---|
| Lot size | 1200 |
| Allotment | Jul 25, 2024 |
| Listing | Jul 29, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 126000 | 1855 |
| HNI | 2 | 2400 | 252000 | 795 |
Last updated on 24-Jul-2024 17:03:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 1272000 | 178922400 | 140.66 |
| NIB | 954000 | 490078800 | 513.71 |
| RETAIL | 2226000 | 317475600 | 142.62 |
| Total | 4452000 | 986476800 | 221.58 |
| Retail Apps | 264563 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹72.41 | @8% ₹82.76 | @9% ₹93.1 | @10% ₹103.45 | @11% ₹113.79 | @12% ₹124.13 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.01% | 2226000 |
| NII (HNI) | 14.15% | 954000 |
| Anchor | 28.29% | 1908000 |
| QIB | 18.86% | 1272000 |
| Market Maker | 5.69% | 384000 |
| Total | 100.00% | 6744000 |
IPO Details
| 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 | 18,208,688 |
| Share holding post issue | 24,952,688 |
| Market Maker portion | 384,000 shares Choice Equity Broking |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROCE | 29.74% | 24.28% | 33.25% |
| RONW | 40.92% | 31.99% | 49.42% |
| D/E | 1.02 | 0.9 | 0.85 |
| EPS (basic) | 5.85 | 3.03 | 2.94 |
| P/E Pre IPO | 19.19 | ||
| P/E Post IPO | 26.3 |
Financial Statement ( Restated)
| Period Ended | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| 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 | 3,638.37 | 2,118.75 | 1,264.05 |
| Amount in Lakhs | |||
About Company
Incorporated in 2015, RNFI Services Limited is a financial technology firm offering comprehensive B2B and B2B2C solutions via its online portal and mobile application, focusing on banking, digital, and Government-to-Citizen (G2C) services across India. The company's operations span four categories: business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking. As of July 2024, RNFI has partnered with eleven financial institutions, including national private and public sector banks and payment banks, to enhance financial inclusion services. By March 31, 2024, the company had processed over 115 lakh monthly transactions and, by June 3, 2024, expanded its operations to over 28 states and 5 Union territories, covering 17,964 pin codes through an extensive distribution network. With 1,405 employees as of March 31, 2024, RNFI plays a significant role in driving growth. As of June 3, 2024, it boasts over 360,000 network partners nationwide, offering tech-enabled services. RNFI's transactional business correspondent services include Domestic Money Transfer, Aadhaar Enabled Payment System, Micro ATM, kiosk banking, and doorstep e-KYC services for prepaid cards and fastags. The non-business correspondent services encompass utility and travel-related services, EMI collection, delinquent loan collections, and product and service sales to support network partners' needs.
Strength Factors
Holistic and Diversified Portfolio: RNFI Services Limited offers an all-in-one solution in B2B and B2B2C models, spreading business risk and enhancing adaptability to market changes with a wide-ranging product and service portfolio.
Technology-Focused: The company operates with an advanced digital platform, ensuring a technology-driven business model that supports efficient and innovative service delivery.
Asset-Light and Scalable: RNFI's network partner-centric strategy emphasizes lean capital investment for expansion, creating an asset-light and scalable business model.
Risk Factors
Regulatory Dependence: RNFI's substantial revenue from banking partners, who are regulated by the RBI, makes it vulnerable to changes in RBI policies and regulations, potentially impacting its business and financial condition.
Reliance on Network Partners: The company's dependence on attracting and retaining front-end network partners is crucial; failure to do so could materially and adversely affect its business operations and future prospects.
IT System Vulnerabilities: RNFI's reliance on information technology systems exposes it to risks of disruptions, failures, or data breaches, which could negatively impact operations and reputation, with success hinging on its ability to adapt to technological advancements.
Choice Capital Advisors Private Limited
Skyline Financial Services Pvt Ltd
Phone: +91-11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com