RNFI Services Ltd IPO

A substantial portion of the revenue is generated from its banking partners. The company's banking partners are regulated by the RBI and any change in the RBI's policies, decisions and regulatory framework could adversely affect its business, cash flows, results of operations and financial condition.

The company heavily relies on its front-end network partners, if the company is unable to attract new network partners or retain and grow its relationships with the company's existing network partners, its business, results of operations, financial condition, and future prospects would be materially and adversely affected.

The company heavily relies on information technology systems which may be subject to vulnerabilities, disruptions, failures, or data breaches and thus may have the potential to negatively impact both its operations and the company's reputation. Additionally, its ability to succeed is contingent on the company's capacity to innovate, update, and adjust to emerging technological advancements.

The company derives a portion of its revenue from the fee and commission that its charge from the company's customers against the company's services. Any failure to earn revenue from such activities may have a negative impact on its financial performance.

The Company, its Subsidiaries, the company's Promoters and its Directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.

Security breaches and attacks against its tech platform, and any potential breach of or failure to otherwise protect personal, confidential and proprietary information, could damage its reputation and materially and adversely affect the company's business, financial condition and results of operations.

The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect its operations.

Failures to deal effectively with fraudulent activities may cause harm to its business, and could severely diminish the company's banking partner and consumer confidence in and use of its platform.

The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.

Its subsidiaries does not own the premises where their registered office is situated.