Rapid Fleet Management Services Ltd., a specialist in providing logistics services for B2B and B2C clients, launched its initial public offering on Mar. 21. The company aims to raise nearly Rs 44 crore from investors in the primary market. Those keen on investing in this IPO must check these key details before making a final call.
Rapid Fleet IPO: Key Details
Rapid Fleet Management Services IPO is a book-built issue comprising a fresh issue of 22.85 lakh shares offered at a price band of Rs 183 to 192 apiece. The IPO offer size is valued at Rs 43.87 crore at the upper price band.
The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.
Retail investors can submit bids in the public offer with a minimum lot size of 600 shares, requiring an investment of Rs 1,15,200.
The subscription window for the Rapid Fleet IPO will be open between Mar. 21 and Mar. 25. Allotment for the IPO is proposed to be finalised by Mar. 26. Shares will be credited to the demat account of successful bidders on Mar. 27, and refund for non-allottees will also be initiated on the same day.
Shares of Rapid Fleet Management Services are proposed to be listed on the NSE SME platform, Emerge, on Mar. 28.
Gretex Corporate Services Ltd. is the book-running lead manager of the Rapid Fleet IPO. Bigshare Services Pvt. is the registrar and MLB Stock Broking Pvt. is the market maker for the IPO.
Rapid Fleet IPO Subscription Status
The Rapid Fleet IPO has been subscribed 0.01 times as of 10:15 a.m. on Friday.
QIBs: nil
NIIs: nil
Retail Investors: 0.01 times
*The subscription status will be updated at regular intervals
Rapid Fleet IPO GMP Today
The GMP for the Rapid Fleet IPO stood at Rs 0 at 9 a.m. on Mar. 21, according to InvestorGain. It indicates that the IPO could see a flat listing.
Note: Please note that GMP is not an official data source, and is based on speculation.
Rapid Fleet Management Services: Business and Financials
Rapid Fleet Management Services Ltd. provides logistics and road transport solutions to B2B and B2C clients. It has a fleet of more than 200 vehicles and caters to industries such as FMCG, automobile, and electronics.
Use of Proceeds
The company has proposed to use the net proceeds from the IPO to buy vehicles and fund working capital requirements. A portion of the money raised in the IPO will also be used for general corporate purposes.
Financials
For FY24, Rapid Fleet's profit after tax (PAT) stood at Rs 8.07 crore, which was an increase of 71.33% from Rs 4.71 crore in FY23. The company reported a revenue of Rs 116.32 crore in FY24 an increase from Rs Rs 106.03 crore in the previous fiscal.
For the first six months of FY25, its PAT stood at Rs 7.01 crore and revenue at Rs 87.39 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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