Rapid Multimodal Logistics IPO opens today: Check issue size, price band, allotment date & other details

Rapid Multimodal Logistics, a Chennai-based logistics services provider, launched its initial public offering (IPO) on Thursday, August 22. The subscription window will close on August 27.

The offer is categorised under the small and medium enterprises (SME) segment, and post the IPO, the shares will be listed on the BSE SME platform.

The IPO is entirely a fresh issue, with the company aiming to raise up to ₹8.49 crore via the issue of 1,011,200 equity shares with a face value of ₹10.

What is the IPO price band?

Rapid Multimodal Logistics has fixed a price band of ₹84 per share, which is 8.4 times the face value of the shares. The minimum lot size is 1,600 shares, which takes the minimum investment value to ₹1,34,400.

IPO timeline

After the subscription window closes, the allotment of shares is expected to be finalised on Wednesday, August 28. Refunds to investors who could not be allotted the shares will be initiated on Thursday, August 29.

The listing of Rapid Multimodal Logistics is expected on Friday, August 30. The shares will be trade only on the BSE SME index.

Gretex Corporate Services Limited is the book running lead manager for the issue, whereas Bigshare Services Pvt Ltd is the registrar.

Rapid Multimodal Logistics financials

The company logged a revenue of ₹71.8 crore in the fiscal year ended March 31, 2024, which is lower as compared to ₹72.7 crore in FY23, as per the data shared by trendlyne.com. The net profit in FY24 declined to ₹1.79 crore from ₹2 crore in the preceding financial year.

Notably, Rapid Multimodal Logistics provides logistical solutions tailored to the B2B sector. Their services cater to a broad spectrum of industries, including glass, plywood, paper, edible oil, gypsum boards, iron & steel, scraps, tiles, sanitary products, and the liquor industry.

For more details on Rapid Multimodal Logistics, click here