RNFI Services IPO Review

At RNFI Services Limited, they strive to simplify digital payments to make them more convenient, reliable, and accessible for all ensuring that location is not a limiting factor. 

The Company is led by experienced and professional Promoters named, RANVEER KHYALIYA possesses over eight (8) years of experience in the field of fintech, software development and finance; DEEPANKAR AGGARWAL possesses over 18 years of experience in various fields such as operations, compliance and fintech; NITESH KUMAR SHARMA , RAJAN KUMAR, KRISHNA KUMAR DAGA, & CHARANJEET SINGH. 

Financially, RNFI Services revenue jumped from ₹19,079.93 Lakhs in FY22 to ₹106,939.62 Lakhs in FY23 and currently at ₹94,305.10 Lakhs in FY24. Similarly, EBITDA is stable from ₹979.66 Lakhs in FY22 to ₹993.87 Lakhs in FY23 and currently at ₹1,923.88 Lakhs in FY24. but the PAT also decreased from ₹555.03 Lakhs in FY22 to ₹488.71 Lakhs in FY23 and currently at ₹996.07 Lakhs in FY24. This indicates a steady financial performance.

For the RNFI Services IPO, the company is issuing shares at a pre-issue EPS of ₹5.47 and a post-issue EPS of ₹3.99. The pre-issue P/E ratio is 19.19x, while the post-issue P/E ratio is 26.31x against the industry P/E ratio of 46.23x. The company's ROCE for FY24 is 29.74%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of RNFI Services indicates potential listing gains of 70% to 75%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to apply for listing gain or long term investment purposes.