Rapid Multimodal Logistics IPO opens tomorrow; price band set at ₹84 apiece

The IPO subscription for Rapid Multimodal Logistics will commence on Thursday, August 22 and conclude on Tuesday, August 27. The price band for the IPO has been set at ₹84 per share, with a lot size of 1,600 shares for Rapid Multimodal Logistics. The issue price is 8.4 times of the face value of the equity shares.

Based in Chennai, the company offers comprehensive logistical solutions to clients and primarily serves the B2B sector. They deliver end-to-end logistics services to help manufacturers and traders transport raw materials and finished goods. The company manages and coordinates the movement of materials throughout the supply chain, from origin to destination.

Mr. Narayan Agarwal, Mr. Manoj Goel, Mr. Summit Agarwal, and Ms. Nidhi Agarwal are the promoters of the Company.

The company's listed peers are Chartered Logistics Ltd (with a P/E of 52.89), and Shree Vasu Logistics Ltd (with a P/E of 84.08).

In the financial year ending with March 31, 2024, Rapid Mutlimodal Logistics Limited saw a 2% decline in revenue and an 11% decrease in profit after tax (PAT) compared to the previous year ending March 31, 2023.

The allotment of shares for the Rapid Multimodal Logistics IPO will be finalised on Wednesday, August 28. Refunds will be initiated on Thursday, August 29, while the shares will be credited to the demat account of allottees on the same day. It is anticipated that the Rapid Multimodal Logistics IPO shares will be listed on BSE SME on Friday, August 30.

Rapid Multimodal Logistics IPO details

Rapid Multimodal Logistics IPO, which is worth about ₹8.49 crore, consists of a fresh issue of 1,011,200 equity shares with a face value of ₹10. There is no offer-for-sale component.

The net proceeds from the fresh issue will be used by the firm for various purposes, including general corporate purposes and working capital requirements.

The Rapid Mutlimodal Logistics IPO has Gretex Corporate Services Limited as its book running lead manager, with Bigshare Services Pvt Ltd serving as the registrar for the issue. Gretex Share Broking is the market maker for the Rapid Mutlimodal Logistics IPO.

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