Rapid Multimodal Logistics IPO allotment today: How to check status on BSE and Bigshare Services

The allotment of shares in Rapid Multimodal Logistics IPO is set to be finalised today, August 28. The public issue saw remarkable demand, achieving an overall subscription rate exceeding 350 times on the final day of bidding, August 27.

The BSE SME IPO attracted bids for more than 33.60 crore shares against the 9.60 lakh shares available, leading to an oversubscription of 350.09 times.

The IPO attracted significant interest across investor groups, with non-institutional investors (NIIs) leading the way with a subscription rate of 512.80 times. Retail investors also showed strong demand, with a subscription rate of 172.55 times.

Now, investors who have applied for the IPO can check their allotment status through the official website of the registrar, Bigshare Services Pvt Ltd, or on the BSE website.

How to check the allotment status on the registrar’s website:

• Head to the Bigshare Services website — https://www.bigshareonline.com/ipo_allotment.html
• From the dropdown menu, select ‘Rapid Multimodal Logistics Limited’
• Enter your PAN number, application number, or DP Client ID
• Hit the ‘Search’ button to view your allotment status

How to check the allotment status on the on the BSE:

• Visit the BSE website — https://www.bseindia.com/
• Head to the ‘Investors’ section and choose ‘Public Issues’ from the dropdown menu
• Select the ‘Check Application Status’ option
• Under issue type, select ‘Equity’ and pick ‘Rapid Multimodal Logistics Limited’ as the issue name
• Enter your PAN number and application number
• Complete the captcha verification
• Click ‘Search’ to view your allotment status

Rapid Multimodal Logistics IPO details

The Rapid Multimodal Logistics IPO is a fixed-price issue worth ₹8.49 crore. It consists entirely of a fresh issue of 10.11 lakh shares. Priced at ₹84 per share, investors could have placed bids for a minimum of 1,600 shares and in multiples thereafter.

For retail investors, the minimum and maximum investment is for one lot, consisting of 1,600 shares, amounting to ₹1,34,400. High Net Worth Individuals (HNIs) must invest in a minimum of two lots, equating to 3,200 shares, with an investment of ₹2,68,800.

Gretex Corporate Services Limited is the book-running lead manager for the IPO, with Gretex Share Broking acting as the market maker.

Rapid Multimodal Logistics IPO dates

The subscription period for the Rapid Multimodal Logistics IPO was open from August 22 to August 27. After the basis of allotment is determined today (August 28), investors can expect the initiation of refunds and the crediting of shares to their Demat accounts on August 29. The IPO is set to list on the BSE SME platform on August 30.

Rapid Multimodal Logistics IPO objectives

The primary objectives of the Rapid Multimodal Logistics IPO are to raise funds to meet the company's working capital requirements and to address general corporate purposes. The net proceeds from the fresh issue will be directed towards these two areas.

About Rapid Multimodal Logistics Limited

Rapid Multimodal Logistics Limited is a Chennai-based company that provides complete logistical solutions, primarily serving the B2B sector. The company, founded in July 2020, offers both single and multimodal transportation services, which involve integrating various modes of transportation, such as road, rail, and sea, within a single supply chain to enhance efficiency and meet diverse shipment needs.

Rapid Multimodal Logistics Limited serves a variety of industries, such as glass, plywood, paper, edible oil, gypsum boards, iron and steel, scraps, tiles, sanitary products, and liquor.