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economictimes.indiatimes.com / 1 year ago
Rapid Fleet Management IPO listing today. Check GMP ahead of the debut
NSE SME platform on Friday. Ahead of the listing, the company's shares are having a muted GMP of Rs 0 in the grey market. This indicates a flat to negative listing at the bourses, but could change depending on the sentiments in the secondary market.
The company will utilise the Rs 44 crore it raised from the public offer for purchase of vehicles, working capital requirements and general corporate purposes.
The IPO, which was priced at Rs 192 per share, was subscribed just over 1x, driven by strong demand from non-institutional investors.
Rapid Fleet Management, a Chennai-based company provides logistics services tailored for both B2B and B2C clients, specializing in road transportation.
The process begins with order booking, followed by route planning to improve efficiency. Each shipment is assigned to a suitable vehicle, considering cargo requirements to ensure safe transit. Whether goods are loaded from designated stops or the company’s warehouse, the team ensures they are secured for transport.
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To track and monitor shipments, the company uses GPS, FAST-TAG, and SIM TRACKING navigation systems, providing real-time updates. Upon reaching the destination, unloading procedures are carefully executed to ensure safe delivery.
As of the filing date of the Red Herring Prospectus, the company owns a fleet of 226 trucks used for logistics services. It serves various industries, including tire manufacturing, logistics, electronics, FMCG, and renewable energy.
Rapid Fleet has secured contracts to provide
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21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
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markets
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
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markets
IPO
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21.05 / 09:47
markets
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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UPS
Manufacturing
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