RNFI Services listing today: Shares make bumper debut, list at 90% premium

RNFI Services IPO listing: Shares of financial technology company RNFI Services made a stellar debut on the NSE SME amidst positive domestic and global cues on Monday. The company's shares listed at a premium of 90 per cent from the upper end of the IPO price. RNFI Services' shares listed at Rs 199.5  on the NSE SME, as against the issue price of Rs 105, yielding a return of Rs 94.50 per share for investors. 

The grey market premium (GMP) of RNFI Services' IPO shares soared over 81 per cent ahead of its listing, indicating solid listing gains for investors.

The three-day subscription window for the RNFI Services IPO closed on Wednesday, July 24, 2024. The basis of allotment for the RNFI IPO took place on Thursday, July 25, 2024. The public issue received massive participation from investors, getting booked a whopping 221.49 times by the last date of subscription. The NII category received the highest bid at 513.31 times, followed by retail at 142.62 times, while the QIB category got booked 140.66 times.

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RNFI Services IPO Details

The public issue of RNFI Services comprises a fresh issue of 6,744,000 shares aggregating up to Rs 70.8 crore. The RNFI Services IPO was available in the price band of Rs 98-105 per share with a lot size of 1200 shares. The company has fixed Rs 105 as the issue price for the IPO. Investors could apply for a minimum of 1,200 shares and in multiples thereof. The minimum amount required by a retail investor to apply for the RNFI Services IPO is Rs 1,26,000. RNFI Services raised Rs 20.03 crore from anchor investors on Friday, July 19, 2024.

About RNFI Services Limited

RNFI Services Limited is a financial technology company that provides banking and other financial digital services across India. Established in 2015, the company currently operates in four larger categories, including money changer services, non-business correspondent services, and insurance broking. The market capitalisation of RNFI Services IPO is Rs 262 crore. The company's Profit After Tax for FY23-24 stood at Rs 996.07 lakh, as against Rs 488.71 lakh reported in FY22-23. RNFI Services Limited's revenue stood at Rs 94,305.10 lakh in FY24, as against Rs 106,939.62 lakh reported in FY23.