The initial public offer (IPO) of Rapid Fleet Management Services received bids for 90,000 shares as against 17,26,200 shares on offer, as per NSE data as of 17:00 hours on Friday (21 March 2025). The issue was subscribed 0.05 times.

The issue opened for bidding on Friday (21 March 2025), and it will close on Tuesday (25 March 2025). The price band of the IPO is fixed between Rs 183 to Rs 192 per share. The minimum order quantity is 600 equity shares. The equity shares will list on NSE’s SME platform.

The IPO comprises a fresh issue of 22,84,800 shares. The promoter and promoter shareholding will dilute to 73.40% from 99.74% pre-IPO.

About 4,21,800 equity shares will be reserved for subscription by the market maker to the issue. The net issue comprises 18,63,000 equity shares.

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 Thursday, 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. The company has expanded its operations significantly, currently managing a fleet of over 200 vehicles. 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. They are committed to offering customized-based solutions to its customers ensuring there is no issue from their side. Additionally, they deliver wide range of cargo requirements, which are Full and partial load services. 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.