Rapid Multimodal Logistics IPO fully subscribed on day 1: Check price band, listing date and key details

Rapid Multimodal Logistics IPO opened to a strong investor demand on the first day of bidding. The issue was fully subscribed within hours of opening for bidding on Thursday, August 22.

Rapid Multimodal Logistics Ltd received bids for over 14.36 shares against 9,60,000 shares offered in the IPO, as per the BSE data. The issue was subscribed 1.49 times on the first day of bidding at 12:07 PM.

Retail investors drove the demand for shares of Rapid Multimodal Logistics Ltd, placing bids for over 13 lakh shares against 4,80,000 lakh shares set aside for the category. The retail portion of Rapid Multimodal Logistics IPO was booked 2.71 times.

Non-Institutional Investors (NIIs) placed bids for over 1.36 lakh shares compared to the 4,80,000 lakh shares set aside for them. The allocation for NIIs was subscribed 28%.

Investors interested in applying for Rapid Multimodal Logistics IPO should know these details before applying:

Rapid Multimodal Logistics IPO size

Rapid Multimodal Logistics Ltd aims to raise ₹8.49 crore via its public issue. The fixed price issue consists entirely of a fresh issue of 10.11 lakh shares.

Rapid Multimodal Logistics IPO: Price band, lot Size

Rapid Multimodal Logistics IPO issue price has been fixed at ₹84 per share. Retail investors interested in applying for Rapid Multimodal Logistics IPO can place bids for a minimum lot size of 1600 shares, which aggregates to an investment of ₹1,34,400. On the other hand, High-Net Worth Investors (HNIs) interested in applying for the public issue can place bids for a minimum lot size of 2 lots or 3,200 shares, which aggregates to an investment of ₹2,68,800.

Rapid Multimodal Logistics IPO: Share allocation date, listing date

The Rapid Multimodal Logistics IPO’s subscription window will be open between August 22 and August 27. The share allotment status is expected to be finalised on August 28.

Refunds will be initiated for non-allottees on August 29 and shares of Rapid Multimodal Logistics will be credited into the demat accounts on the same day. Shares of Rapid Multimodal Logistics IPO will be listed on the BSE SME platform. The tentative listing date for Rapid Multimodal’s shares is August 30.

Rapid Multimodal Logistics: Key financials

Rapid Multimodal Logistics revenue for FY24 fell over 1% year-on-year to ₹71.84 crore against ₹72.96 crore in FY23. The company’s profit-after-tax slipped more than 10% to ₹1.79 crore in FY24 against ₹2 crore in FY23. The net worth of the company increased 57% to ₹4.71 crore in FY24 from ₹3 crore a year ago.

Rapid Multimodal Logistics: Promoters

Rapid Multimodal Logistics’ promoters are Narayan Agarwal, Manoj Goel, Summit Agarwal and Nidhi Agarwal. The promoters of the company held a 99.99% stake in the company before the public issue.

Rapid Multimodal Logistics IPO: Registrar

The registrar for Rapid Multimodal Logistics IPO is Bigshare Services Pvt Ltd and the book-running lead manager for the issue is Gretex Corporate Services Limited. The market maker for Rapid Multimodal Logistics IPO is Gretex Share Broking.

Rapid Multimodal Logistics IPO: Objective

Rapid Multimodal Logistics plans to use the money raised via the public issue to fund the working capital requirements of the company and for other general corporate purposes.

About Rapid Multimodal Logistics Limited

Incorporated in July 2020, Rapid Multimodal Logistics Limited offers both single and multimodal transportation services. The company provides services such as planning, route optimisation, selecting carriers, documentation and other such services. It had 17 employees as of January 2024.