What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for RNFI SERVICES LIMITED IPO?

Based on the upper price band of ₹105 and current GMP of ₹89, the estimated listing price is ₹194 (approx. 84.8% gain).

What is the expected profit per lot for RNFI SERVICES LIMITED IPO?

With a lot size of 1200 shares and current GMP of ₹89, expected profit per retail application lot is approximately ₹1,06,800.

IPO GreyPremiumLIVE

Grey Market Intelligence

RNFI SERVICES LIMITED

ListedSME

Financial Services · NSE

RNFI Services Limited, founded in 2015, is a fintech company providing comprehensive B2B and B2B2C solutions across India, focusing on banking, digital, and Government-to-Citizen services. The company operates through business correspondent services, non-business correspondent services, full-fledged money changer services, and insurance broking, partnering with 11 financial institutions, including public and private banks, to promote financial inclusion. As of mid-2024, RNFI processes over 115 lakh monthly transactions, operates across 28 states and 5 Union Territories covering 17,964 pin codes, and has a workforce of 1,405 employees with 360,000+ network partners nationwide. Its key services include domestic money transfers, AEPS, Micro ATM, kiosk banking, doorstep e-KYC, utility and travel services, EMI and delinquent loan collections, and product and service sales, making it a significant enabler of tech-driven financial services in India.

Price Band

₹98 – ₹105

Issue Size

₹70.81 Cr

Lot Size

1200 shares

GMP

₹89

+84.8%

Est. Listing

₹194

at current GMP

Subscribed

221.58x

overall

Open

22 Jul 2024

24 Jul 2024

Allotment

25 Jul 2024

Refund

26 Jul 2024

Demat Credit

27 Jul 2024

Listing

29 Jul 2024

Last updated 12 days ago

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

RNFI SERVICES LIMITED GMP Today

Last updated: 19 Oct 2026

Current Premium

₹89+84.8%

Issue Price (Upper)

₹105

Band: ₹98 – ₹105

Estimated Listing Price

₹194

Upper price + GMP

Lot Size

1200 shares

Min investment ₹1,26,000

Estimated Profit / Lot

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹89	84.8%	₹194
30 Oct 2026	+₹89	84.8%	₹194
29 Oct 2026	+₹80	76.3%	₹185

About RNFI SERVICES LIMITED Public Issue & Market Profile

RNFI SERVICES LIMITED is bringing an initial public offering (IPO) in the Financial Services sector with an aggregate issue size of ₹70.81 Crores. The shares are offered at a price band of ₹98 to ₹105 per equity share on NSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.

Public Issue & Pricing Context:

Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 1200 shares (approx. ₹1,26,000 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.

Basis of Allotment & Listing Timeline:

Allotment reconciliation will be managed by Skyline Financial Services Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-07-27, while un-allotted funds or UPI block mandates will be released on 2024-07-26.

Frequently Asked Questions

What is RNFI SERVICES LIMITED IPO GMP today?

The latest grey market premium for RNFI SERVICES LIMITED IPO is ₹89, which indicates an expected listing price of ₹194.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.