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RNFI Services IPO and SAR Televenture FPO Set to Raise ₹220 Crore. All About Objectives, Financials, & GMP

RNFI Services IPO and SAR Televenture FPO Set to Raise ₹220 Crore. All About Objectives, Financials, & GMP
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The SME IPO market is certainly heating up! Just when you thought the excitement was dying down, two new players, RNFI Services and SAR Televenture, are set to grab investor attention. With their respective IPO and FPO, these companies are looking to raise a combined ₹220.81 crore.

RNFI Services Ltd. 

Let’s break down what these companies offer and why they might be worth looking at.

Source: NSE

RNFI Services is coming up with a fresh issue of 67.44 lakh shares priced between ₹98 to ₹105 per share. The total money the company aims to raise is ₹70.81 crore. There’s no offer for sale here, so all the money raised will be new money for the company. A small part of the issue, about 5.69%, is reserved for market makers.

The shares on offer are divided like this:

Source: NSE


Objectives

The company plans to use the money raised for these things:

  • Boosting its working capital
  • Buying more Micro ATMs, laptops, and servers
  • Upgrading its technology systems
  • Making potential acquisitions
  • General corporate expenses

GMP

The current Grey Market Premium (GMP) for RNFI Services IPO is ₹40. This means shares are trading at a premium of ₹40 in the unofficial grey market. If this GMP holds, the expected listing price would be ₹145 (issue price of ₹105 + GMP of ₹40). That’s a potential gain of 38.10% over the issue price. Don’t base your investment decisions solely on GMP.

Company Overview

RNFI Services is a fintech company founded in 2015 that offers banking, digital, and government services across India. They provide business and customer solutions through online and mobile platforms. With a network of over 3.6 lakh partners and partnerships with 11 central banks, they facilitate financial inclusion across 28 states and 5 union territories. Their services include money transfers, Aadhaar-based payments, Micro ATMs, and more.

AD 4nXcbPPi5vu1jgV7td8FMi8hU3BcsvVFO84qcCRpGZxrEmiGaBum7gtzXu4Av8B 1iJs4lUVfLxpfQoZcGtG4g5gNk7r3hIc41MYycR7 MVr5kxRjb2fmX3 YBVGVjVWNqg2MOTGqndUF8KkWt25L4BTehy4t?key=hQi9o4QLEQfvQ ZIYirRJg
Source: SEBI

Financials

RNFI Services’ revenue dropped by 11.81% in the last financial year compared to the year before. However, its profit increased by 103.82%.

AD 4nXeja0CbobbQXAqjBbRsQYBySiqs2Q sH NqT8bpQws8duDU6b98XmMbazLZzSr9lDkP17 0d3asqj1MKuxGhLpGNZcw1dY3JyVFN0u7Vth3778Z7LqoT7OqBScmgj1OPtdnNCfYWHfmJQOVta2KB8lLilkF?key=hQi9o4QLEQfvQ ZIYirRJg
Source: SEBI

SWOT Analysis of RNFI Services Ltd. 

SAR Televentures Ltd FPO

FPO Details

Source: NSE

SAR Televenture is back for a second round of fundraising. After a successful IPO last November, the company is looking to raise ₹450 crore through a follow-on public offer (FPO) worth ₹150 crore and a rights issue for existing shareholders worth ₹300 crore. 

FPO Timelines

The FPO opens on July 22 and closes on July 24, with allotment expected on July 25. The shares are expected to list on the NSE SME on July 29. The price band for the FPO is set at ₹200 to ₹210 per share. Retail investors need to invest a minimum of ₹105,000 for 500 shares, while HNIs need to invest at least ₹210,000 for 1000 shares.

FPO Objectives

The company plans to use the money raised from the FPO for:

  • Expanding its Fiber-to-the-Home (FTTH) network to cover 3 lakh homes
  • Building an additional 1000 4G/5G telecom towers
  • Increasing its working capital
  • General corporate expenses

GMP

The current Grey Market Premium (GMP) for SAR Televenture is ₹27. This means shares are trading at a premium of ₹27 in the unofficial grey market. If this GMP holds, the expected listing price would be ₹237 (issue price of ₹210 + GMP of ₹27). That’s a potential gain of 12.86% over the issue price. Don’t base your investment decisions solely on GMP.

Company Overview

SAR Televenture is in the telecom solutions business. It sets up 4G and 5G towers, installs optical fiber cables, and deals in telecom equipment across India. The company also leases out tower sites and other telecom infrastructure. With the ongoing 5G expansion, the company expects significant growth. To expand its operations, it recently acquired a trading company in the UAE. SAR Televenture will be listed on the NSE SME platform.

AD 4nXcJn 9DmnD4d0uaO0KyAPmk3FezmgRWDh7QXBvG01egCgvzGpFPnsj5vIuBFV XIU26r XnxrSSrtHVFEb8olmvPGEmh8CS9jbjsZjjsfgbwpqvfeXuhT2YzKtSr6tC7CPDMc0R9upO24pVevX0CVZMos0?key=hQi9o4QLEQfvQ ZIYirRJg
Source: SEBI

Financials

SAR Televenture has seen impressive growth in the last financial year. Revenue jumped by 281.87%, and profits surged by 297.92%.

AD 4nXc8DSo5G0lwYCniFiJsfWPDgzdJjA78eFz8Z1tfziNdc8t 5hlt0OtGXxwYQGTwlMPw4S OORzlH6QtGkyGZL KBM5rnfJGCm avTIRdEzUaz3ZRjO mlckhf0nbvlu2Zmr3VCJsebZmxP0YemMCtyKVibC?key=hQi9o4QLEQfvQ ZIYirRJg
Source: SEBI

SWOT Analysis of SAR Televenture Ltd. 

The Final Word

As with any investment, thorough due diligence is crucial. While the SME IPO market offers opportunities, it also carries inherent risks. Investors must carefully evaluate the company’s financials, business model, and market prospects before making investment decisions.

Ultimately, the success of these IPOs will depend on various factors, including market conditions, investor sentiment, and the companies’ ability to execute their growth plans.

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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

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