Rapid Fleet IPO closes today; subscription lags at 71%, GMP remains flat

The initial public offering (IPO) of logistics services company Rapid Fleet Management, which opened on March 21, 2025, will close for subscription today. The SME issue valued at ₹44 crore received a muted response from investors as the issue was subscribed by only 71 per cent till 11.48 AM on Tuesday, March 25, 2025, according to the National Stock Exchange (NSE) data. 

  The retail investor portion was subscribed 0.37 times, while the non-institutional investors (NII) portion was subscribed 0.74 times. On the other hand, the qualified institutional buyers (QIB) quota was fully subscribed, with bids 1 time the available shares.

 

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Rapid Fleet Management IPO details

Rapid Fleet Management has set the price band in the range of ₹183 to ₹192. Retail investors can bid for a minimum of one lot of 600 shares worth ₹1,09,800 and in multiples thereafter. 

 

The company has reserved 50 per cent of the public issue for QIBs, 35 per cent for retail investors and 15 per cent for non-institutional investors. The minimum investment required for high net-worth individuals is ₹2,30,400.

 

After the closure of the subscription window, the basis of the allotment of shares is likely to be finalised on Wednesday, March 26, 2025. Rapid Fleet Management shares are expected to list on the NSE SME platform on Friday, March 28, 2025.

 

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

  According to the red herring prospectus (RHP), the company aims to use the net proceeds from the issue to purchase vehicles (goods carriages), meet working capital requirements and general corporate purposes. 

Read: ATC Energies IPO opens today; check price band, lot size, GMP, key dates

 

Rapid Fleet Management IPO GMP

The unlisted shares of Rapid Fleet Management were trading flat at around ₹192 per share, the upper end of the IPO price, according to sources tracking unofficial market activities.

 

About Rapid Fleet Management

The Chennai-based Rapid Fleet Management provides road transportation logistics services to B2B and B2C customers. It serves a wide array of industries, including but not limited to tyre, logistics, electronics, FMCG, renewable, durables, FNB and chemicals. It owns a fleet of 226 vehicles.