Rapid Fleet IPO made a muted debut on the NSE Emerge platform on March 28, listing at ₹195, a 1.56% premium over its ₹192 IPO price. The SME IPO raised ₹43.87 crore. After opening, the stock gained 2.56%, reaching a high of ₹200.
The Rapid Fleet IPO was subscribed 1.65 times, driven by strong demand from Non-Institutional Buyers (4.38x). Qualified Institutions (1.07x) and Retail Investors (0.81x) showed moderate interest, while Anchor Investors and Market Makers fully subscribed. The IPO received 1,095 applications with a total bid value of ₹41.32 crore.
The Rapid Fleet SME IPO had a last GMP of ₹0, indicating no premium or discount. With an IPO price of ₹192, the estimated listing price was also ₹192. However, the stock listed at ₹195, a slight 1.56% premium over the expected price.
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Details About Rapid Fleet IPO
The Rapid Fleet IPO, a book-built issue, opened on March 21, 2025, and closed on March 25, 2025, aiming to raise ₹43.87 crore through a fresh issue. Priced between ₹183-₹192 per share, the IPO allotted 50% to QIBs, 35% to retail investors, and 15% to HNIs.
Founded in 2006, Rapid Fleet Management Services Limited is a Chennai-based logistics and road transportation company specializing in B2B and B2C services. The company owns a fleet of 174 trucks and caters to diverse industries, including FMCG, electronics, renewable energy, chemicals, and F&B. It provides full and partial load services, ensuring timely and reliable deliveries.
An ISO 9001:2015 certified company, Rapid Fleet Management focuses on technology-driven logistics solutions to enhance operational efficiency. It has developed its own mobile application, enabling real-time tracking, e-bidding, RFQ processes, e-POD uploading, and customer TMS management. With a team of 68 employees, the company continues to expand its operations by leveraging cutting-edge technology and professional expertise to offer seamless logistics solutions.
Rapid Fleet IPO Financial Performance
Rapid Fleet Management has shown steady financial growth over the years. For the six months ending September 2024, the company reported a revenue of ₹87.39 crore, expenses of ₹78.13 crore, and a profit after tax of ₹7.01 crore, with total assets of ₹101.30 crore. In FY 2024, it recorded a revenue of ₹116.32 crore, with expenses of ₹105.18 crore and a net profit of ₹8.07 crore.
The previous years also reflected consistent performance, with revenue of ₹106.03 crore in 2023 and ₹114.02 crore in 2022, while profits stood at ₹4.71 crore and ₹3.40 crore, respectively. The company has been expanding its asset base, reaching ₹101.30 crore in 2024 (Sep) from ₹70.66 crore in FY 2024, demonstrating financial stability and growth.