The first public offering (IPO) of Chennai-based logistics services provider Rapid Multimodal Logistics opened on Thursday, August 22. On August 27, the subscription window will close.
The shares will be listed on the BSE SME platform following the initial public offering (IPO), and the offer falls under the small and medium enterprises (SME) segment.
Lot size and price band
The company is trying to raise as much as Rs 8.49 crore through the IPO, which is a completely new issue. 1,011,200 equity shares with a face value of Rs 10 will be issued.
A price range of Rs 84 per share, or 8.4 times the share face value, has been set by Rapid Multimodal Logistics. 1,600 shares are the minimum lot size, and Rs. 1,34,400 is the minimum investment value.
IPO timetable
The shares will be allotted and finalised on Wednesday, August 28, following the close of the subscription window. Commencing on Thursday, August 29, investors who were not allocated shares will receive their refunds.
Listing exchange and registrar
On Friday, August 30, the listing of Rapid Multimodal Logistics is anticipated. Just the BSE SME index will be used for share trading.
For this issue, Bigshare Services Pvt. Ltd. is the registrar, and Gretex Corporate Services Limited is the book running lead manager.
Financials of Rapid Multimodal Logistics
The company recorded revenue of Rs 71.8 crore for the fiscal year that ended on March 31, 2024, a decrease from Rs 72.7 crore in the previous fiscal year. From Rs 2 crore in the previous fiscal year to Rs 1.79 crore in FY24, the net profit decreased.
Notably, B2B-specific logistical solutions are offered by Rapid Multimodal Logistics. Glass, plywood, paper, edible oil, gypsum boards, iron & steel, scraps, tiles, sanitary products, and the liquor industry are just a few of the industries they serve with their services.
