Rapid Fleet Management Services Limited IPO (Rapid Fleet IPO) Detail
Rapid Fleet IPO is a bookbuilding of Rs 43.87 crores. The issue is entirely a fresh issue of 22.85 lakh shares.
Rapid Fleet IPO bidding started from March 21, 2025 and ended on March 25, 2025. The allotment for Rapid Fleet IPO was finalized on Wednesday, March 26, 2025. The shares got listed on NSE SME on March 28, 2025.
Rapid Fleet IPO price band is set at ₹192 per share. The minimum lot size for an application is 600. The minimum amount of investment required by retail investors is ₹1,09,800. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,15,200. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to ₹2,30,400.
Gretex Corporate Services Limited is the book-running lead manager of the Rapid Fleet IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for Rapid Fleet IPO is MLB Stock Broking Private Limited.
Refer to Rapid Fleet IPO RHP for detailed information.
Rapid Fleet IPO Details
| IPO Date | March 21, 2025 to March 25, 2025 |
| Listing Date | March 28, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹192 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 22,84,800 shares (aggregating up to ₹43.87 Cr) |
| Fresh Issue | 22,84,800 shares (aggregating up to ₹43.87 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 51,50,000 shares |
| Share Holding Post Issue | 74,34,800 shares |
| Market Maker Portion | 4,21,800 shares MLB Stock Broking Private Limited |
Rapid Fleet IPO Reservation
Rapid Fleet IPO offers total 22,84,800 shares. Out of which 3,72,600 (16.31%) allocated to QIB, 2,79,600 (12.24%) allocated to NII, 6,52,200 (28.55%) allocated to RII and 5,58,600 (24.45%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 5,58,600 (24.45%) |
| Market Maker Shares Offered | 4,21,800 (18.46%) |
| QIB Shares Offered | 3,72,600 (16.31%) |
| NII (HNI) Shares Offered | 2,79,600 (12.24%) |
| Retail Shares Offered | 6,52,200 (28.55%) |
| Total Shares Offered | 22,84,800 (100%) |
Rapid Fleet IPO Anchor Investors Details
Rapid Fleet IPO raises Rs 10.73 crore from anchor investors. Rapid Fleet IPO Anchor bid date is March 20, 2025. Rapid Fleet IPO Anchor Investors list
| Bid Date | March 20, 2025 |
| Shares Offered | 5,58,600 |
| Anchor Portion Size (In Cr.) | 10.73 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 25, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 24, 2025 |
Rapid Fleet IPO Timeline (Tentative Schedule)
Rapid Fleet IPO opens on March 21, 2025, and closes on March 25, 2025.
| IPO Open Date | Fri, Mar 21, 2025 |
| IPO Close Date | Tue, Mar 25, 2025 |
| Tentative Allotment | Wed, Mar 26, 2025 |
| Initiation of Refunds | Thu, Mar 27, 2025 |
| Credit of Shares to Demat | Thu, Mar 27, 2025 |
| Tentative Listing Date | Fri, Mar 28, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 25, 2025 |
Rapid Fleet IPO Lot Size
Investors can bid for a minimum of 600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,15,200 |
| Retail (Max) | 1 | 600 | ₹1,15,200 |
| HNI (Min) | 2 | 1,200 | ₹2,30,400 |
| Lot Size Calculator | |||
Rapid Fleet IPO Promoter Holding
| Share Holding Pre Issue | 97.50% |
| Share Holding Post Issue | 67.54% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
About Rapid Fleet Management Services Limited
Incorporated in 2006, Rapid Fleet Management Services Limited is specializes in providing comprehensive logistics and road transportation services tailored to both B2B and B2C clients.
The company has expanded its operations significantly, currently managing a fleet of over 200 vehicles. They serve a diverse range of industries, including FMCG, automobile, and electronics sectors.
The company developed its own mobile app to streamline business processes, ensuring 24/7 operations. It focuses on client compliance through e-bidding, portal RFQs, e-POD, invoicing, and customer TMS management.
Services:
- Full or Partial Load: The company offers Full and Partial Load services, ensuring efficient, cost-effective transport of goods and raw materials. It supports seamless logistics, timely deliveries, and flexible solutions for diverse cargo needs.
- Exim Services: The company provides comprehensive Exim services, handling efficient customs clearance, optimized logistics, and cross-border transactions. It specializes in inland transport, connecting ports, production facilities, and ensuring timely delivery of goods.
- Renewable Transportation Services: The company has expanded into the renewable energy logistics sector, specializing in transporting Wind Turbine Generators (WTG). It invested in extendable telescopic trailers to efficiently move large wind turbine blades.
As of August 14, 2024, the company has 68 employees on payroll.
Competitive Strengths:
- Implementation of an integrated TMS – Digitify Book
- In house Vehicle Fleet and its Safety for smooth operations and delivery
- PAN India Transport
- Pride in catering to an esteemed clientele
- Dynamic Approach to Market Fluctuations
- Not compromising Quality Services
Company Financials
Rapid Fleet Management Services Limited Financial Information (Restated)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 101.3 | 70.66 | 71.81 | 75.37 |
| Revenue | 87.39 | 116.32 | 106.03 | 114.02 |
| Profit After Tax | 7.01 | 8.07 | 4.71 | 3.4 |
| Net Worth | 28.89 | 20.15 | 12.08 | 7.41 |
| Reserves and Surplus | 23.74 | 20.05 | 11.98 | 7.31 |
| Total Borrowing | 34.07 | 14.93 | 15.79 | 27.43 |
| Amount in ₹ Crore | ||||
Key Performance Indicator (KPI)
The market capitalization of Rapid Fleet IPO is Rs 142.75 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 50.09% |
| ROCE | 43.11% |
| Debt/Equity | 0.74 |
| RoNW | 40.06% |
| PAT Margin | 6.98 |
| Price to Book Value | 4.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 15.67 | 10.86 |
| P/E (x) | 12.25 | 17.68 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Rapid Fleet IPO Objectives)
The Company Rapid Fleet IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Purchase of Vehicles (Goods carriages) | 130 |
| 2 | Working Capital Requirements | 191.2 |
| 3 | General Corporate Purposes |
Rapid Fleet IPO Review (Avoid)
[Dilip Davda] The company is engaged in providing tailor made logistics services on B2B and B2C model. While it posted inconsistency in its top lines for the reported periods, it marked jump in bottom lines from FY24 onwards. Based on its super earnings from FY24 onwards, the IPO appears aggressively priced. It is operating in a highly competitive and fragmented segment. Small equity post-IPO indicates longer gestation period for migration to mainboard. There is no harm in skipping this ”High Risk/Low Return” pricey bet. Read detail review…
Rapid Fleet IPO Subscription Status (Bidding Detail)
The Rapid Fleet IPO is subscribed 1.65 times on March 25, 2025 6:19:59 PM (Day 3). The public issue subscribed 0.81 times in the retail category, 1.07 times in the QIB category, and 4.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 1.07 | 3,72,600 | 3,99,000 | 3 |
| NII* | 4.38 | 2,79,600 | 12,23,400 | 209 |
| Retail | 0.81 | 6,52,200 | 5,29,800 | 883 |
| Total | 1.65 | 13,04,400 | 21,52,200 | 1,095 |
Total Application : 1,095
*Market Maker portion is not included to NII/HNI.
Rapid Fleet IPO Prospectus
Rapid Fleet IPO Listing Details
| Listing Date | March 28, 2025 |
| BSE Script Code | |
| NSE Symbol | RAPIDFLEET |
| ISIN | INE0QX901013 |
| Final Issue Price | ₹192 per share |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹192.00 |
| Open | ₹195.00 |
| Low | ₹195.00 |
| High | ₹203.75 |
| Last Trade | ₹200.90 |
Check IPO Performance…
Rapid Fleet Management Services Limited Contact Details
Rapid Fleet Management Services Limited
New No. 9,
Old No. 5 Coral Merchant Street,
Chennai – 600001
Phone: 044-25210132
Email: info@rapidtransportsystems.in
Website: http://www.rapidfleet.in/
Rapid Fleet IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
About The Author
