{"id":39957,"date":"2024-07-18T16:29:56","date_gmt":"2024-07-18T10:59:56","guid":{"rendered":"https:\/\/prevalentindia.in\/index.php\/2024\/07\/18\/rnfi-services-limited-ipo-opens-on-july-22-2024\/"},"modified":"2024-07-18T16:29:56","modified_gmt":"2024-07-18T10:59:56","slug":"rnfi-services-limited-ipo-opens-on-july-22-2024","status":"publish","type":"post","link":"https:\/\/prevalentindia.in\/index.php\/2024\/07\/18\/rnfi-services-limited-ipo-opens-on-july-22-2024\/","title":{"rendered":"RNFI Services Limited IPO Opens On July 22, 2024"},"content":{"rendered":"<div>\n<div>\n<p><strong>Mumbai (Maharashtra) [India], July 18:<\/strong> RNFI Services Limited,\u00a0offering advanced financial technology solutions, has announced its plan to go public with an Initial Public Offering (IPO)\u00a0on\u00a0July22, 2024. The company is aiming to raise\u00a0\u20b9\u00a070.81\u00a0Crores\u00a0at the\u00a0upper band\u00a0through this IPO, with shares set to be listed on the\u00a0NSE Emerge\u00a0platform.<\/p>\n<p>\u25cf Total Issue Size \u2013 67,44,000 Equity Shares of \u20b9 10 each \u25cf Issue Size \u2013 \u20b9 70.81 Crores (At Upper Band) \u25cf Price Band \u2013 \u20b9 98 \u2013 \u20b9 105 Per Share \u25cf Lot Size \u2013 1,200 Equity Shares<\/p>\n<p>The issue size is\u00a0Up To\u00a067,44,000\u00a0equity shares at face value of\u00a0\u20b9\u00a010\u00a0each.<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u25cf\u00a0QIB Anchor Portion \u2013\u00a0Up To\u00a019,08,000\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Qualified Institutional Buyers (QIB) \u2013\u00a0Up To\u00a012,72,000Equity Shares<\/p>\n<p>\u25cf\u00a0Non-Institutional Investors (NII) \u2013\u00a0Up To\u00a09,54,000Equity Shares<\/p>\n<p>\u25cf\u00a0Retail Individual Investors (RII) \u2013\u00a0Up To\u00a022,26,000Equity Shares<\/p>\n<p>\u25cf\u00a0Market Maker \u2013\u00a0Up To\u00a03,84,000\u00a0Equity Shares<\/p>\n<p>The net proceeds from the IPO will be used\u00a0for fundingworking capital requirements, capital expenditure,\u00a0development\u00a0to technology\u00a0infrastructure, inorganic growth through unidentified acquisitions and other strategic initiatives, and for general corporate purposes.\u00a0The bidding for Anchor portion will open on\u00a0July\u00a019, 2024, the issue\u00a0willopen for subscription\u00a0for all other category\u00a0from\u00a0July\u00a022, 2024 and closes on\u00a0July\u00a024, 2024.<\/p>\n<p>The\u00a0Book Running\u00a0Lead Manager to the Issue\u00a0is\u00a0Choice Capital Advisors Private Limited.\u00a0The Registrar to the Issue isSkyline Financial Services Private Limited.<\/p>\n<p>Mr.\u00a0Ranveer Khyaliya,\u00a0Chairman\u00a0&amp;\u00a0Managing Directorof\u00a0RNFI Services Limited\u00a0expressed,\u00a0\u201cits immense pleasureto share this significant milestone in our journey as we prepare for our Initial Public Offering (IPO). Since our inception, our mission has been to bridge the financial gap in rural India, bringing accessible and innovative financial technology solutions to the underserved. Our dedicated team and extensive network have enabled us to reach over 28 states and 5 union territories, processing more than 115 lakh transactions monthly\u00a0till the date.<\/p>\n<p>Our IPO marks a new chapter in our journey. It is an opportunity to further our mission of financial inclusion and technological innovation. The funds raised will be used to enhance our service offerings, expand our network, and continue our commitment to empowering rural India.\u00a0We are excited about the future and the potential to make a greater impact on the financial landscape of India.\u201d<\/p>\n<p>\u00a0Mr.\u00a0Ratiraj Tibrewal\u00a0Director\u00a0&amp;\u00a0CEO\u00a0of\u00a0Choice Capital Advisors Private Limited\u00a0said,\u00a0\u201cI am privileged to support a company that stands at the forefront of financial technology innovation and inclusion in India. RNFI\u00a0has demonstrated a strong commitment to bridging the financial gap in rural and underserved regions of India. Their integrated business model, which spans business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking, showcases their versatility and dedication to providing comprehensive financial solutions. The company\u2019s strategic focus on \u201cPhygital\u201d integration-blending physical and digital services\u00a0has been instrumental in creating a seamless customer experience across their extensive network.<\/p>\n<p>The upcoming IPO represents a significant milestone, poised to propel to new heights. The funds raised will enable the company to expand its services, strengthen its network, and continue its mission of financial inclusion and technological advancement.\u00a0We believe that Company\u2019s\u00a0strong foundation, coupled with the strategic use of IPO proceeds, will create substantial\u00a0market\u00a0presence and contribute to the company\u2019s long-term growth.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 18: RNFI Services Limited,\u00a0offering advanced financial technology solutions, has announced its plan to go<\/p>\n","protected":false},"author":1,"featured_media":39958,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[575],"class_list":["post-39957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts\/39957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/comments?post=39957"}],"version-history":[{"count":0,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts\/39957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/media\/39958"}],"wp:attachment":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/media?parent=39957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/categories?post=39957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/tags?post=39957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}