RNFI Services made a strong debut on the stock market, with its shares listed at Rs 199.50, reflecting a 90% premium.
The IPO price range was set between Rs 98 and Rs 105 per share. The company had also shown a positive outlook in the grey market before listing.
IPO Details
The RNFI Services Limited IPO opened on July 22 and was available for subscription until July 24.
Share allotment took place on July 25, with the company now listed on BSE SME.
Profit Booking Impact
Despite a stellar listing, the stock soon faced profit booking pressures.
This led to the shares hitting a lower circuit limit after a 5% drop, with the price settling at Rs 189.55.
Subscription Information
The IPO size was Rs 70.81 crore. Choice Capital Advisor Private Limited managed the IPO, which was oversubscribed by 221.49 times overall.
In the retail category, it was subscribed 142.62 times, while Qualified Institutional Bidders subscribed 140.66 times.
Lot Size and Investment
The IPO lot size was 1200 shares, requiring an investment of Rs 1,26,000 for retail investors.
Anchor investors had access on July 19, and the company raised Rs 20.03 crore from these major investors.
IPO Timeline and Performance
The RNFI Services Limited IPO opened on July 22, with subscriptions accepted until July 24.
Shares were allocated on July 25, and the company is now listed on BSE SME. However, after an impressive start, the stock experienced profit booking and hit a lower circuit limit, falling 5% to Rs 189.55.
Subscription Details and Lot Size
The IPO was worth Rs 70.81 crore and saw a tremendous response, with a subscription rate of 221.49 times.
In the retail category, the subscription was 142.62 times, and in the Qualified Institutional Bidders section, it was 140.66 times.
The IPO lot size was 1200 shares, requiring a minimum investment of Rs 1,26,000.
Anchor investors had the opportunity to invest on July 19, raising Rs 20.03 crore from them.
