RNFI Services Limited — Important, 22-03-2025: Updates

The Board of Directors of RNFI Services Limited has approved an investment of up to Rs. 6 Crore in RNFI Money Private Limited, a wholly owned subsidiary, through a rights issue to enhance compliance with RBI guidelines for securing a Payment Aggregator Cross Border (PACB) License. This investment aims to meet the required Net Worth criteria of Rs. 15 Crore for the PACB application. RNFI Money Private Limited has shown robust performance with a turnover of Rs. 64.38 Crore in 2023-24, indicating its operational strength in the money-changing business. The investment aligns with RNFI's strategic objectives and is expected to bolster its competitive positioning in the market. Investors should view this as a significant step towards achieving important licensing requirements, reflecting a positive outlook for the company’s growth trajectory. The investment is expected to be completed by June 30, 2025.