Rapid Fleet Management IPO opens today: Check key dates, price band, GMP

Rapid Fleet IPO: The initial public offering (IPO) of logistics services company Rapid Fleet Management opened for subscription today, March 21, 2025. The company, which aims to raise ₹44 crore through the issuance of 2.285 million fresh equity shares, has fixed a price band of ₹183 to ₹192 for its IPO.  

 

Ahead of its IPO, Rapid Fleet Management raised ₹10.72 crore from anchor investors. The company announced that it allocated 0.558 million equity shares to anchor investors, at ₹192 each, the upper end of the price band.

 

The company has reserved 50 per cent of the public issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors.

 

Here are the key details of the Rapid Fleet Management IPO from its Red Herring Prospectus (RHP):

 

Rapid Fleet Management IPO key dates

The three-day subscription window to bid for the Rapid Fleet Management shares will close on Tuesday, March 25, 2025. The allotment of shares is likely to be finalised on Wednesday, March 26, 2025. Refunds for unsuccessful bidders will be initiated on March 27, 2025. Shares of Rapid Fleet Management are expected to list on the NSE SME on Friday, March 28, 2025, according to the RHP.  ALSO READ | Active Infra IPO opens today; check price band, lot size, GMP, key dates

 

Rapid Fleet Management IPO price band, lot size

The logistics services provider has set the price band of its ₹44 crore IPO in the range of ₹183 to ₹192. Retail investors can bid for a minimum of one lot of Rapid Fleet's share in the issue, consisting of 600 shares and in multiples thereafter. One lot will entail a minimum investment of ₹1,09,800. The minimum investment required for the high net-worth individuals is ₹2,30,400.

 

Rapid Fleet Management IPO registrar, lead manager

Bigshare Services is the registrar for the issue. Gretex Corporate Services is the sole book-running lead manager.

 

Rapid Fleet Management IPO grey market premium (GMP)

Ahead of the opening, the unlisted shares of Rapid Fleet Management were trading flat at ₹192 each, according to sources tracking unofficial market activities.

 

Rapid Fleet Management IPO objective

The company aims to utilise the net fresh issue proceeds to purchase vehicles (goods carriages), working capital requirements and general corporate purposes.  ALSO READ | Grand Continent Hotels IPO Day 2; subscription rise 35%, GMP remains flat

 

About Rapid Fleet Management

The Chennai-based company provides logistics services tailored to the needs of B2B and B2C customers. It owns a fleet of 226 vehicles and serves a wide range of industries, including tyre, logistics, electronics, FMCG, renewable, durables, FNB and chemicals.

 

Rapid Fleet Management financial review

For the six months period ended September 30, 2024, the company reported a revenue from operations of ₹85.02 crore and profit after tax (PAT) of ₹7.01 crore. In FY24, Rapid Fleet's revenue from operations grew 9.5 per cent year-on-year (Y-o-Y) to ₹115.58 crore from ₹105.52 crore in FY23. It reported a PAT of  ₹8.07 crore in FY24, up 71 per cent from ₹4.71 crore in previous fiscal.