RNFI Services SME IPO Details, Financials, Valuation & Peers

By IPOBaseLast Updated on

Get everything you need to know about the RNFI Services IPO. Explore RNFI Services IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.

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Status
Listed
Biding Dates
22 Jul - 24 Jul 2024
Price Range
₹ 98 - 105
Issue Size
₹ 70.81 crore
Listed Price
₹199.590.00%

Overview

RNFI Services Limited is a tech-enabled platform offering a wide range of financial technology solutions in the B2B and B2B2C segments across India. The company provides banking, digital, and Government to Citizen (G2C) services through an integrated business model via its online portal and mobile application. RNFI Services Limited operates primarily in four segments: business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking. The company leverages its extensive network to deliver financial services to underserved populations, particularly in rural and remote areas, while also providing business opportunities for shopkeepers and network partners.

Key Points:

  • Segments and Services:
    1. Business Correspondent Services:
      • Includes Domestic Money Transfer (DMT), Aadhaar Enabled Payment System (AePS), Micro ATM (M-ATM), and Kiosk banking services.
      • Provides doorstep KYC authentication services for prepaid cards and Fastag services.
    2. Non-Business Correspondent Services:
      • Offers utilities and travel-related services such as mobile and DTH recharge, Bharat Bill Payments System (BBPS), PAN card services, IRCTC booking, and flight booking.
      • Provides EMI collection services, delinquent loan collection services, and the sale and subscription of products and services for network partners.
    3. Full-Fledged Money Changer Services:
      • Operated through RNFI Money Private Limited, an RBI-registered entity offering foreign exchange services for private and business travel purposes.
    4. Insurance Broking:
      • Conducted through Reliassure Insurance Brokers Private Limited, providing a range of life and general insurance products.
  • Network and Reach:
    • Front-end distribution network comprises over 3.60 lakh network partners as of June 3, 2024.
    • Provides multiple tech-enabled business correspondent and non-business correspondent services through an assisted model.
  • Technological Integration:
    • Implements a “phygital” strategy, integrating physical and digital functionalities to ensure efficient service delivery.
    • Subsidiary Paypsrint Private Limited offers a unified open API platform to enhance customer transactions and satisfaction.
  • Strategic Partnerships:
    • Entered into arrangements with eleven financial institutions, including national private and public sector banks and payment banks, to provide financial inclusion services as business correspondents.

IPO Docs

Objects of the Issue

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

IPO Details

Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.

FieldsDetails
IPO Dates22 Jul - 24 Jul 2024
IPO Price Band₹ 98 - 105 per share
Fresh Issue67,44,000 shares
Offer For SaleNIL
Total IPO Size₹ 70.81 crore
Face Value₹ 10
Listing OnNSE

IPO Timeline

Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.

EventDate
IPO Opening Date22 Jul 2024
IPO Closing Date24 Jul 2024
Basis Of Allotment25 Jul 2024
Refunds26 Jul 2024
Demat Transfer26 Jul 2024
IPO Listing Date29 Jul 2024

Financial Statements

Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.

Period Ended31st March 202131st March 202231st March 202331st March 2024
Total Income135.61190.801,069.40943.05
Total Expenses125.46182.991,062.86930.03
Net Profit/Loss7.465.554.899.96
NPM (*)5.572.950.461.06
Total Assets104.98116.61125.27190.51
Total Liabilities97.13102.92103.86158.51

* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)

Valuation

Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.

Period Ended31st March 202131st March 202231st March 202231st March 2024
EPS4.192.943.035.85
ROE (%)95.1040.5422.8331.12
ROCE (%)78.9033.2524.2829.74
D/E Ratio2.170.850.901.02
Current Ratio0.741.061.100.97
EBITDA MARGIN (%)8.585.200.932.06

* Compiled from DRHP/RHP for valuation purposes.

Peer Comparison

Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.

NameRevenueP/EEPSRoNWNAV
RNFI Services Limited935.4217.955.8540.9217.35
BLS E-Services Limited301.4855.304.4411.5147.45
Mos Utility Limited186.7737.154.1721.3730.10

* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.

Subscription Data from NSE and BSE

Investor TypeSubscribed
Qualified Institutional Buyer (QIB)140.66
Non-Institutional Investor (NII/HNI)513.31
Retail Individual Investor (RII)142.62
Total221.49

* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.

IPO Registrar

Skyline Financial Services Private Limited
Phone
: 011-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com

Company Promoters

  • RANVEER KHYALIYA
  • NITESH KUMAR SHARMA
  • DEEPANKAR AGGARWAL
  • RAJAN KUMAR
  • KRISHNA KUMAR DAGA
  • CHARANJEET SINGH
  • SIMRAN SINGH PRIVATE TRUST

Lead Managers

  • Choice Capital Advisors Private Limited

Company Address

RNFI Services Limited

UG-5, Relipay House, Plot No. 42 DLF Industrial Area Kirti Nagar, West Delhi, New Delhi, Delhi, India, 110015

Phone: +91-8448985100

Email: cs@rnfiservices.com

Website: www.rnfiservices.com

FAQs

  • What is the issue size of the RNFI Services SME IPO?
    The RNFI Services SME IPO has an issue size of ₹ 70.81 crore. This includes a fresh issue of 67,44,000 shares and an offer for sale (OFS) of NIL.
  • What is the price band of the RNFI Services IPO?
    The price band for the RNFI Services IPO is ₹ 98 - 105 per share.
  • What are the bidding dates for the RNFI Services IPO?
    The RNFI Services IPO will open for bidding on 22 Jul 2024 and close on 24 Jul 2024.
  • What is the allotment date for the RNFI Services IPO?
    The allotment date for the RNFI Services IPO is 25 Jul 2024.
  • What is the listing date for the RNFI Services IPO?
    The listing date for the RNFI Services IPO is 29 Jul 2024.
  • What is the RNFI Services IPO grey market premium?
    The grey market premium (GMP) for the RNFI Services IPO is currently at ₹89, with an expected listing gain of approximately 84.76%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.

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