The scrip was listed at 195, a premium of 1.56% compared with the initial public offer (IPO) price. The stock settled with gains of 2.82% over its listing price.
The counter hit a high of Rs 203.75 and a low of Rs 195. About 2.03 lakh shares of the company changed hands at the counter.
Rapid Fleet Management Services' IPO was subscribed 1.49 times. The issue opened for bidding on 21 March 2025, and it closed on 25 March 2025. The price band of the IPO was set at Rs 183 to Rs 192 per share.
The IPO comprised a fresh issue of 22,84,800 shares. The promoter and promoter shareholding diluted to 73.40% from 99.74% pre-IPO.
The company intends to utilize the net proceeds to purchase vehicles (goods carriages), working capital requirements, and general corporate purposes.
Ahead of the IPO, Rapid Fleet Management on 20 March 2025, raised Rs 10.72 crore from anchor investors. The board allotted 5.58 lakh shares at Rs 192 per share to 5 anchor investors.
Rapid Fleet Management Services specializes in providing comprehensive logistics and road transportation services tailored to both B2B and B2C clients. They serve a diverse range of industries, including FMCG, automobile, and electronics sectors. The main aim of the company is to focus on providing business chain activities ensuring customer satisfaction. Additionally, they deliver wide range of cargo requirements. As of 28 February 2025, the company had 72 employees.
The company recorded revenue from operations of Rs 85.02 crore and a net profit of Rs 7.01 crore for the period ended 30 September 2024.
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