RNFI Services IPO

Incorporated in 2015, RNFI Services Limited is a financial technology firm that offers B2B and B2B2C solutions through its online portal and mobile application. It focuses on providing banking, digital, and Government-to-Citizen (G2C) services across India. The company's business can be divided into four categories:- Business correspondent services; Non-business correspondent services; Full-fledged money changer service; and Insurance broking. As of July 2024, the company has partnered with eleven financial institutions, including National private and public sector banks and payment banks. These institutions are engaged as business correspondents to provide financial inclusion services. As of March 31, 2024, the company has processed over 115 lakh monthly transactions. As of June 3, 2024, it operates in over 28 states and 5 Union territories, covering 17,964 pin codes nationwide through its distribution network. As of March 31, 2024, the company has 1,405 employees on a standalone basis, playing a significant role in its growth. As of June 3, 2024, the company has over 360,000 network partners across India, providing various tech-enabled services. The company provides transactional business correspondent services including Domestic Money Transfer, Aadhaar Enabled Payment System, and Micro ATM, kiosk banking services, and doorstep services for private sector banks to conduct e-KYC for prepaid cards and fastags. The company offers non-business correspondent services, including utility and travel-related services, EMI collection, delinquent loan collections, and sale of products and services to meet our network partners' needs.

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

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