RNFI Services shares list with 90% premium at ₹199.5 apiece on NSE SME

  • RNFI Services shares were listed at 199.50 apiece on NSE SME, a premium of 90% to the issue price of 105 per share.

Ankit Gohel
Published29 Jul 2024, 10:01 AM IST
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RNFI Services shares list with 90% premium at ₹199.5 apiece on NSE SME

RNFI Services share price made a stellar stock market debut on Monday as the stock was listed at a decent premium to the IPO price. RNFI Services shares were listed at 199.50 apiece on NSE SME, a premium of 90% to the issue price of 105 per share.

RNFI Services IPO listing was mostly in-line with street estimates as RNFI Services IPO GMP today, or grey market premium today was 85%.

The initial public offering (IPO) of RNFI Services Ltd opened for public subscription on July 22 and closed on July 24. The IPO allotment was finalized on July 25 and the IPO listed date is today, July 29.

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RNFI Services IPO was an SME IPO and the equity shares of the company are listed on NSE SME.

RNFI Services IPO price band was set at 98 to 105 per share. The company raised 70.81 crore from the book-built issue which was entirely a fresh issue of 67.44 lakh equity shares.

Choice Capital Advisors Pvt Ltd is the book running lead manager of the RNFI Services IPO, while Skyline Financial Services Private Ltd is the IPO registrar.

RNFI Services IPO was heavily subscribed during its bidding period led by robust demand from investors. RNFI Services IPO was subscribed 221.49 times in total. The public issue received bids for 98.60 crore equity shares as against 44.52 lakh shares on the offer.

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The IPO was booked 142.62 times in the retail category, 140.66 times in the Qualified Institutional Bidders (QIB) category, and 513.31 times in the Non-Institutional Investors (NII) category.

RNFI Services is a technology-driven platform offering financial solutions in both B2B and B2B2C segments. It provides a wide range of services, including banking, digital, and government-to-citizen (G2C) services across India.

The company operations are divided into four main segments: business correspondent services; non-business correspondent services; full-fledged money changer services and insurance broking.

Read all IPO news here

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First Published:29 Jul 2024, 10:01 AM IST
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