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  • By Goodwill
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  • July 22, 2024

IPO : RNFI Services Limited

RNFI Services Limited IPO

 SYMBOL RNFI
 ISSUE TYPE Book Built Issue IPO
 ISSUE OPENS ON Monday, July 22, 2024
 ISSUE CLOSES ON Wednesday, July 24, 2024
 ISSUE PRICE ₹98 to ₹105 per share
 ISSUE SIZE Up to Rs.70.81 Crores
 FACE VALUE Rs.10 per share

RNFI Services IPO is a book built issue of Rs 70.81 crores. The issue is entirely a fresh issue of 67.44 lakh shares.

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RNFI Services IPO opens for subscription on July 22, 2024 and closes on July 24, 2024. The allotment for the RNFI Services IPO is expected to be finalized on Thursday, July 25, 2024. RNFI Services IPO will list on NSE SME with tentative listing date fixed as Monday, July 29, 2024.

 MINIMUM BID 1200 shares
 MINIMUM AMOUNT  Rs.126,000
 MAXIMUM BID 1200 shares
 MAXIMUM AMOUNT  Rs.126,000
 LISTING DATE Monday, July 29, 2024
 LISTING AT NSE-SME

RNFI Services IPO price band is set at ₹98 to ₹105 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹252,000.

Objects of the Issue (RNFI Services IPO Objectives)

The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue (“Net Proceeds”) are proposed to be utilised for the following objects:

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