Rapid Fleet Management shares make positive debut, list at ₹195 on NSE SME

Logistics services company, Rapid Fleet Management, made a positive debut on the NSE SME platform on Friday, March 28, 2025. The stock listed at ₹195 per share on the NSE SME, up 1.56 per cent from the IPO issue price of ₹192.

 

Ahead of the listing, unlisted shares of Rapid Fleet Management IPO were trading flat at ₹192 in the grey market, according to the sources tracking unofficial markets.

 

Rapid Fleet Management IPO was a book-built issue of ₹43.87 crore, comprising a fresh issue of 2.28 million equity shares. The price band was set in the range of ₹183 to ₹192 per share.

 

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Rapid Fleet Management IPO details

The SME IPO had opened for subscription on Friday, March 21, 2025, and closed on Tuesday, March 25, 2025, garnering a decent response from investors, with the issue being oversubscribed 1.65 times.

 

Retail investors subscribed to only 81 per cent of the reserved quota, while non-institutional investors (NIIs) subscribed to the IPO by 4.38 times. Qualified institutional buyers (QIBs) portion was subscribed 1.08 times.

 

Ahead of its IPO, the company raised ₹10.72 crore from anchor investors. The company informed the exchange that it allocated 0.55 million equity shares to anchor investors at ₹192 per share, the upper end of the price band.

 

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

 

About Rapid Fleet Management

Incorporated in December 2017, Rapid Fleet Management offers logistics services customised to the needs of B2B and B2C clients. The Chennai-based company owns a fleet of 226 vehicles which comprise various types of cargo trucks and trailers. It serves a broad range of industries, including tyre, logistics, electronics, FMCG, renewable, durable, FNB and chemicals. In FY24, Rapid Fleet reported revenue from operations of ₹115.58 crore and profit after tax (PAT) of  ₹8.07 crore.

 

For the first half of FY25 ending on September 30, 2024, Rapid Fleet Management reported revenue from operations of ₹85.02 crore and profit after tax (PAT) of ₹7.01 crore. In FY24, the company reported revenue from operations of ₹115.58 crore and PAT of  ₹8.07 crore.