Rapid Fleet Management Services Limited, a Chennai-based logistics company, has launched its Initial Public Offering (IPO), opening for subscription from March 21 to March 25, 2025. The company provides road transportation solutions for B2B and B2C clients, ensuring efficient logistics through GPS, FAST-TAG, and SIM TRACKING systems.

IPO Details: Price Band, Lot Size, and Market Capitalization

The Rapid Fleet Management Services IPO is a Book Built Issue worth ₹43.86 Crores, consisting entirely of a fresh issue of 22.84 lakh shares. The price band is set at ₹183 to ₹192 per equity share. At the upper end of the price band, the market capitalization is estimated at ₹142.74 Crores.

Lot Size and Minimum Investment:

• Retail Investors: Minimum lot size is 600 shares, requiring an investment of ₹1,15,200.

• High-Net-Worth Individuals (HNIs): Minimum investment is 1,200 shares (2 lots) amounting to ₹2,30,400.

Lead Manager, Registrar, and Market Maker

• Book Running Lead Manager: Gretex Corporate Services Limited

• Registrar: Bigshare Services Private Limited

• Market Maker: MLB Stock Broking Private Limited

IPO Subscription Status & Live Updates

As of March 24, 2025 (12:00 PM), the Rapid Fleet Management Services IPO has been subscribed 0.09 times on its second day of the subscription period. Investors can check the live IPO subscription status on the NSE SME platform.

Grey Market Premium (GMP) & Listing Gains Potential

The Grey Market Premium (GMP) for the Rapid Fleet IPO is currently reported at ₹28, indicating a possible listing gain of 14.58%. The GMP has fluctuated in the last few days:

• March 21, 2025: GMP at ₹28 (Expected Listing Price: ₹192)

• March 18, 2025: GMP at ₹58 (Expected Listing Price: ₹250)

Allotment Date and Listing Timeline

• IPO Allotment Date: March 26, 2025 (Wednesday)

• Refunds Initiation: March 27, 2025

• Listing Date on NSE SME: March 28, 2025 (Friday)

Investors can check their IPO allotment status by following these steps:

• Visit the registrar's website (Bigshare Services Pvt Ltd)

• Select "Rapid Fleet Management Services IPO" from the dropdown list

• Enter PAN, application number, or DP client ID

• Click Submit to check allotment status

Objectives of the IPO

The Net Proceeds from the IPO will be utilized for:

• Purchase of Vehicles (Goods Carriages): ₹1,302.37 Lakhs

• Working Capital Requirements: ₹3,678.30 Lakhs

• General Corporate Purposes

Company’s Financial Performance

Rapid Fleet Management Services has shown steady financial growth over the years:

• Revenue from Operations:

  • Sep 30, 2024: ₹8,739.41 Lakh

  • FY 2024: ₹11,632.15 Lakh

  • FY 2023: ₹10,602.58 Lakh

  • FY 2022: ₹11,402.23 Lakh

• Profit After Tax (PAT):

  • Sep 30, 2024: ₹701.34 Lakh

  • FY 2024: ₹807.19 Lakh

  • FY 2023: ₹471.34 Lakh

  • FY 2022: ₹339.59 Lakh

Key Performance Indicators

• Pre-Issue EPS: ₹16.14 | Post-Issue EPS: ₹10.86

• Pre-Issue P/E Ratio: 11.90x | Post-Issue P/E Ratio: 17.68x

• ROCE (FY24): 32.59%

• ROE (FY24): 50.09%

• Annualized EPS: ₹27.58 | PE Ratio: 6.96x

Final Verdict: Should You Apply?

Given its strong financials, steady growth, and potential listing gains, the Rapid Fleet Management Services IPO could be a good investment opportunity for risk-tolerant investors. However, since SME IPOs have higher volatility, investors should make informed decisions based on market trends.

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