Rapid Fleet Management IPO allotment: How to check status online on Bigshare Services, NSE

Rapid Fleet Management IPO allotment: Logistics services provider Rapid Fleet Management Services Ltd is expected to announce the IPO share allotment status on Wednesday, March 26. The ₹43.87-crore initial public offering (IPO) of the company closed with a decent demand on Tuesday, led by Non-Institutional Investors (NIIs).

Rapid Fleet Management Services Ltd launched its SME IPO on the National Stock Exchange of India on March 21. The issue opened to a weak response and was booked just 5% on the first day and around 44% on the second day.

Bidding picked up pace on the final day, with the SME IPO attracting applications for 25.74 lakh shares against 13.04 lakh shares on offer. The NSE SME issue was overall booked 1.97 times on the last day of bidding.

Retail individual investors placed bids for more than 5.29 lakh shares against 6.52 lakh shares on offer. The retail portion was booked 81%. The Non-Institutional Investors (NIIs) submitted bids for 16.45 lakh shares compared to nearly 2.8 lakh shares on offer. The NIIs segment was booked 5.88 times. The Qualified Institutional Buyers (QIBs) placed bids for 3.99 lakh shares against the quota of 3.72 lakh shares. The QIBs fully booked their category.

Rapid Fleet Management Services is likely to finalise the share allotment status on Wednesday. IPO Investors can check the allotment status on the NSE and IPO registrar’s website. Bigshare Services Pvt Ltd is the registrar for the issue.

Steps to check Rapid Fleet Management IPO share allotment status on Bigshare Services

• Visit the IPO allotment status page on the Bigshare Services website
• Choose any of the server links from the 3 options
• Select Rapid Fleet Management Ltd from the list of company names
• For verification, choose any of these: Application number, beneficiary ID, or PAN
• Complete the 'captcha' verification
• Click the "Search" button

How to check IPO allotment status on the NSE

• Open the NSE allotment page
• Choose ‘Equity & SME IPO bid details’ from the two options
• Select ‘Rapidfleet’ as the symbol name from the dropdown menu for the IPOs
• Enter PAN and Application Number
• Click on Submit

Rapid Fleet Management IPO Details

• The ₹43.87-crore Rapid Fleet Management Services IPO comprised only a fresh issue of 22.85 lakh shares and no offer for sale (OFS) component.
• The price band for the IPO was fixed at ₹183 to ₹192 per share.
• The minimum bid quantity is 600 shares for retail investors, aggregating to a minimum investment of ₹1.15 lakh.
• The company is expected to credit shares to the Demat accounts of successful bidders on Thursday, March 27. Refunds for the remaining applicants will also be processed on the same day.
• The tentative date for the listing of Rapid Fleet Management Services shares on the NSE SME platform has been fixed as March 28.

About Rapid Fleet Management Services and use of IPO proceeds

Rapid Fleet Management Services Ltd is a logistics service provider. The company offers logistics solutions and road transportation services to B2B and B2C clients across diverse sectors such as electronics, FMCG and automobile. The company has a fleet of over 200 vehicles.

According to the company's RHP, the company plans to utilise around ₹13 crore of the IPO funds for buying new vehicles (goods carriages). The company will use ₹19.1 crore for funding working capital requirements and the rest for general corporate purposes.

Rapid Fleet Management Ltd financials

Rapid Fleet Management Services posted a profit after tax of ₹7 crore for the April- September period of 2024-25. Its revenue stood at ₹87.39 crore in the first six months of the current fiscal.

The logistics services provider reported a PAT of ₹8.07 crore in FY 2023-24 against ₹4.7 crore in FY 2022-23. Its revenue stood at ₹116.32 crore in FY24 against ₹106 crore in the preceding financial year.

Rapid Fleet Management Services Ltd key performance indicators (As of December 31, 2024)