RNFI Services Limited Board Meeting Outcome – Detailed Report

RNFI Services Limited, listed on the National Stock Exchange under symbol RNFI, has announced significant strategic decisions following its Board of Directors meeting held on Monday, August 11, 2025. The company’s moves include a capital increase, a major preferential issue of warrants and equity shares, and the convening of an Extra Ordinary General Meeting (EGM).

Capital Hike Approved

The board has given its nod to increase the company’s authorised share capital from ₹24,99,00,000 (2,49,90,000 equity shares of ₹10 each) to ₹29,99,00,000 (2,99,90,000 equity shares of ₹10 each).
This will be accompanied by a consequent amendment to Clause V of the Memorandum of Association (MoA), subject to shareholder approval.

This increase is aimed at facilitating future fundraising and business expansion.

Preferential Issue of 23.25 Lakh Warrants

The company has approved the issue and allotment of up to 23,25,918 fully convertible warrants priced at ₹270 each, aggregating to ₹62,79,97,860.
Each warrant carries the right to be converted into one equity share within 18 months from allotment, in one or more tranches.

These warrants will be issued on a preferential basis to both promoter and non-promoter categories in compliance with SEBI’s ICDR Regulations, 2018.

Major Allottees include:

• Utpal Hemendra Sheth – 7,40,741 warrants

• Simran Singh Private Trust (Promoter) – 3,60,000 warrants

• Chanakya Wealth Creation Fund – 2,96,292 warrants

• Biyani Growth Ventures LLP – 2,00,000 warrants

• Other prominent investors include Mohit Saraf, KrishnaKumar Daga (CEO), Deepankar Aggarwal (Executive Director), and Nimesh Khandelwal (CFO).

Preferential Equity Allotment of 1.07 Lakh Shares

The board also approved a preferential allotment of 1,07,963 equity shares at ₹270 per share, aggregating to ₹2,91,50,010.

These shares will be allotted to non-promoter investors:

• Surendra Lakhumal Hiranandani – 87,963 shares

• Parimal Pramod Chaudhari – 20,000 shares

This move is also subject to shareholder and regulatory approvals.

Purpose of Fundraising

The proceeds from these issuances will be utilised for:

• Pursuing strategic business opportunities

• Facilitating growth and expansion of RNFI and its subsidiaries

• Meeting general corporate purposes

Extra Ordinary General Meeting (EGM)

To seek necessary shareholder approvals for the above resolutions, RNFI Services will hold its EGM on Wednesday, September 3, 2025, at 2:30 PM via video conferencing or other audio-visual means.

Key Takeaways for Investors

• Capital structure expansion positions RNFI for aggressive growth.

• Diverse investor participation indicates strong market confidence.

• Valuation of ₹270 per security reflects management’s pricing strategy based on market conditions and SEBI guidelines.

The board meeting commenced at 8:30 AM and concluded at 8:45 AM, marking swift decision-making in line with the company’s growth agenda.

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