RNFI Services IPO GMP today is +70. This indicates RNFI Services’ share price was trading at a premium of ₹70 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, RNFI Services IPO’s expected listing price was indicated at ₹175 apiece, which is 66.67% higher than the IPO price of ₹105.
Based on the previous nine sessions of grey market activity, today’s IPO GMP trends are higher, indicating a solid listing. According to analysts at investorgain.com, the lowest GMP is ₹38, and the maximum is ₹70.
The RNFI Services IPO, worth ₹70.81 crore, is purely made up of fresh issues of up to 6,744,000 equity shares.
The net proceeds of the IPO will be utilized to support working capital requirements, capital expenditure, expansion of technological infrastructure, inorganic growth through unidentified acquisitions and other strategic initiatives, and general company reasons.
Choice Capital Advisors Private Ltd is the book-running lead manager for the Issue. Skyline Financial Services Private Ltd is the registrar for the Issue.
Ranveer Khyaliya, Chairman & Managing Director of RNFI Services Ltd, expressed, “It’s an immense pleasure to share this significant milestone in our journey as we prepare for our 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 to date.
