Rapid Fleet IPO
The Rapid Fleet IPO is a book-built issue amounting to ₹43.87 crores. This offering consists entirely of a fresh issue of 22.85 lakh shares, providing new capital for the company.
Investors can subscribe to the IPO starting March 21, 2025, with the issue remaining open until March 25, 2025. The allotment process is expected to be finalized on March 26, 2025, while the tentative listing date on NSE SME is set for March 28, 2025.
The price band for Rapid Fleet’s IPO is set between ₹183 and ₹192 per share. The minimum lot size for applications is 600 shares, requiring retail investors to commit at least ₹1,09,800. However, to secure allotment in case of oversubscription, investors are advised to bid at the upper price limit, which increases the minimum investment to ₹1,15,200.
For high-net-worth individuals (HNIs), the minimum bid is 2 lots (1,200 shares), translating to a total investment of ₹2,30,400.
Rapid Fleet IPO Details
The Rapid Fleet IPO will be open for subscription from March 21 to March 25, 2025. The IPO has a face value of ₹10 per share, with a price band set between ₹183 and ₹192 per share. Investors can bid in a lot size of 600 shares. The total issue size consists of 22,84,800 shares, aggregating to ₹43.87 crore, which is entirely a fresh issue. This is a Book Built Issue IPO, and the shares will be listed on the NSE SME exchange. Before the IPO, the company had 51,50,000 shares in circulation, which will increase to 74,34,800 shares post-issue. Additionally, 4,21,800 shares have been allocated for market making, with MLB Stock Broking as the market maker.
Rapid Fleet IPO Important Dates
The Rapid Fleet IPO is set to open on March 21, 2025 (Friday) and will close on March 25, 2025 (Tuesday). Investors must confirm their UPI mandate by 5 PM on March 25, 2025. The tentative allotment of shares will be finalized on March 26, 2025 (Wednesday), followed by the initiation of refunds on March 27, 2025 (Thursday). On the same day, shares will be credited to successful applicants’ Demat accounts. Finally, the tentative listing date for the IPO is scheduled for March 28, 2025 (Friday).
Rapid Fleet IPO Reservation
The IPO reservation structure for Rapid Fleet Management Services Limited is designed to allocate shares across different investor categories. Qualified Institutional Buyers (QIBs) are eligible for a maximum of 50% of the net offer, ensuring that a significant portion is reserved for institutional investors. Retail investors are guaranteed a minimum of 35% of the net offer, providing them with substantial participation in the IPO. Additionally, Non-Institutional Investors (NIIs), including High Net-worth Individuals (HNIs), have been allocated at least 15% of the net offer. This balanced reservation strategy ensures diversified investor participation while complying with regulatory norms.
Rapid Fleet IPO Lot Size
The lot size for the Rapid Fleet IPO specifies that investors must bid for a minimum of 600 shares and in multiples of this amount. Retail investors can apply for a minimum of one lot, which consists of 600 shares, requiring an investment of ₹1,15,200. The maximum limit for retail investors is also set at one lot. On the other hand, High Net-worth Individuals (HNIs) are required to apply for a minimum of two lots, which amounts to 1,200 shares and an investment of ₹2,30,400. This structured lot size ensures accessibility for both retail and high-net-worth investors while maintaining regulatory compliance.
Rapid Fleet Limited Company Promoter
The promoters of Rapid Fleet IPO are Mr. Anand Poddar and Ms. Shruti Poddar, who currently hold a significant stake in the company. Before the issue, the promoters collectively own 97.50% of the company’s shares, indicating a strong promoter holding. This high percentage suggests a substantial level of control and commitment from the promoters, which can be a key factor in investor confidence.
More About Rapid Fleet Company
Rapid Fleet Management Services Limited, established in 2006, is a logistics and road transportation provider catering to both business-to-business (B2B) and business-to-consumer (B2C) clients. Over the years, the company has grown substantially and now operates a fleet of over 200 vehicles, serving key sectors such as fast-moving consumer goods (FMCG), automobiles, and electronics.
To enhance efficiency and streamline operations, the company has introduced its own mobile application, ensuring round-the-clock logistics management. This digital platform facilitates seamless business processes, incorporating features like e-bidding, request-for-quotations (RFQs), electronic proof of delivery (e-POD), invoicing, and transportation management system (TMS) compliance for its clients.
The company offers a diverse suite of logistics services. Its Full or Partial Load service provides cost-effective transportation solutions for goods and raw materials, ensuring flexible and timely deliveries. Additionally, its Exim Services division specializes in customs clearance, optimized supply chain management, and cross-border transportation, linking ports, manufacturing units, and distribution hubs for seamless trade. Furthermore, Rapid Fleet has expanded into the renewable energy logistics sector, focusing on the transportation of Wind Turbine Generators (WTG). To support this, the company has invested in specialized extendable telescopic trailers, enabling the efficient movement of large wind turbine components.
As of August 14, 2024, Rapid Fleet Management Services Limited employed 68 personnel, reflecting its commitment to scaling operations and strengthening its workforce to meet growing industry demands.
Rapid Fleet Company Financials
Rapid Fleet Management Services Limited has demonstrated significant financial growth over the years. As of September 30, 2024, the company’s total assets stood at ₹101.3 crore, showing a considerable increase from ₹70.66 crore on March 31, 2024, and ₹71.81 crore in March 2023. Revenue for the six-month period ending September 2024 was ₹87.39 crore, while the full-year revenue for March 2024 was ₹116.32 crore, reflecting steady business expansion compared to ₹106.03 crore in 2023 and ₹114.02 crore in 2022.
The company’s profitability has also improved, with profit after tax reaching ₹7.01 crore for the half-year ended September 2024, compared to ₹8.07 crore for the full fiscal year 2024. This marks a strong rise from ₹4.71 crore in 2023 and ₹3.4 crore in 2022. Net worth has surged to ₹28.89 crore as of September 2024, up from ₹20.15 crore in March 2024, ₹12.08 crore in 2023, and ₹7.41 crore in 2022. Similarly, reserves and surplus have grown to ₹23.74 crore, increasing from ₹20.05 crore in March 2024 and ₹11.98 crore in 2023.
However, the company’s total borrowings have also increased significantly, standing at ₹34.07 crore as of September 2024, up from ₹14.93 crore in March 2024 and ₹15.79 crore in March 2023. Despite this, the company’s overall financial performance indicates strong growth, improved profitability, and a strengthened balance sheet.
Rapid Fleet IPO Objectives
The Rapid Fleet IPO aims to utilize the net proceeds from the issue across three key areas. The company plans to allocate ₹13 crore for the purchase of vehicles (goods carriages) to expand its fleet. Additionally, ₹19.12 crore is designated for working capital requirements, ensuring smooth operational growth. The remaining funds will be used for general corporate purposes, supporting overall business expansion and financial stability. These strategic investments are expected to enhance the company’s logistics capabilities and strengthen its market position.
Rapid Fleet IPO Registrar
The registrar for the Rapid Fleet IPO is Bigshare Services Pvt Ltd, a well-known entity in the IPO registration and processing space. Investors can contact the registrar for queries related to IPO applications, allotment status, and refunds. Their contact details include a phone number +91-22-6263 8200 and an email ID ipo@bigshareonline.com. Investors can also check their IPO application status on the registrar’s official website: Bigshare IPO Status.
Disclaimer: This content is intended solely for educational and informational purposes and should not be interpreted as financial or investment advice. The information presented is derived from publicly available sources and independent analysis; however, its accuracy or completeness is not guaranteed. Readers are encouraged to conduct their own due diligence and seek guidance from a professional financial advisor before making any investment decisions. Neither the author nor stoxmail.com assumes responsibility for any financial losses or investment actions taken based on this article.