RNFI Services, a company specializing in financial technology solutions, is launching an IPO with a book-built issue of Rs 70.81 crores. This IPO is entirely a fresh issue of 67.44 lakh shares.
The RNFI Services IPO will be open for subscription from July 22, 2024, to July 24, 2024. The allotment is expected to be finalized on Thursday, July 25, 2024, with the shares listing on NSE SME on Monday, July 29, 2024.
The price band for the RNFI Services IPO is set between ₹98 and ₹105 per share. Investors can apply for a minimum lot size of 1200 shares, requiring a minimum investment of ₹126,000 for retail investors. High Net Worth Individuals (HNIs) need to invest in a minimum of 2 lots (2,400 shares), amounting to ₹252,000.
Choice Capital Advisors Pvt Ltd is the book-running lead manager for the RNFI Services IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for this IPO is Choice Equity Broking.
RNFI Services IPO Details:
| Company Name | RNFI Services |
| Sector | Financial Technology |
| IPO Type | SME |
| IPO Open date | 22nd July 2024 |
| IPO Close date | 24th July 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
RNFI Services IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1200 | 1,26,000 |
| HNI (Min) | 2 | 2400 | 2,52,000 |
RNFI Services IPO Timeline:
| IPO Open Date | 22nd July 2024 |
| IPO Close Date | 24th July 2024 |
| Basis of Allotment | 25th July 2024 |
| Refund Initiation Date | 26th July 2024 |
| Shares Credit to Demat | 26th July 2024 |
| Listing Date | 29th July 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review RNFI Services’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Financial Technology industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in RNFI Services and be a part of its growth. We will update our verdict once the IPO application window opens
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
