RNFI Services, a company that provides financial and government services, had a great day today. Their shares began trading on the stock market for the first time and saw a significant price increase.
Initially, the shares were offered to the public at ₹105 each. However, when trading started today on the NSE SME, the shares were bought and sold at ₹199.50 each, which is an impressive rise of 90%!
Investors who bought the shares during the initial public offering (IPO) are very pleased with their profit today.
The IPO listing of RNFI Services met market expectations, with today’s grey market premium at 85%.
RNFI Services’ IPO was open for public subscription from July 22 to July 24. The allotment of shares was finalized on July 25, and today, July 29, the shares were listed. This IPO was for the SME sector, and the company’s shares are now listed on the NSE SME. The price band for the shares was set between ₹98 to ₹105 each. The company raised ₹70.81 crore through the issuance of 67.44 lakh new shares.
RNFI Services is a technology-based platform offering a variety of financial solutions in both B2B and B2B2C segments. It provides many services, including banking, digital, and government-to-citizen (G2C) services, across India.
This positive market response is good news for RNFI Services. It shows that investors have confidence in the company and its future potential. This success will help the company grow and expand its services to more people. Before investing, it’s important to conduct thorough research on RNFI Services.