Rapid Fleet IPO - Day 3 Subscription at 0.47 Times

Rapid Fleet Management Services' initial public offering (IPO) has shown modest progress through its three-day subscription period. The ₹43.87 crore IPO has witnessed steady growth in demand, with subscription rates advancing from 0.07 times on day one, improving to 0.44 times on day two, and reaching 0.47 times by 10:39 AM on the final day, demonstrating gradual investor interest in this logistics and road transportation service provider that manages a fleet of over 200 vehicles.

Rapid Fleet IPO's qualified institutional buyers segment leads with full 1.00 times subscription, while retail investors follow at 0.34 times and non-institutional investors show limited interest at 0.09 times, reflecting a cautious approach toward this company that serves diverse industries including FMCG, automobile, and electronics sectors.

Subscription Status of Rapid Fleet IPO:

Here are the subscription details for Rapid Fleet IPO as of Day 3 :

Note:
 

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors and market maker are not included in the total shares offered.
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Rapid Fleet IPO - Day 3 Subscription

Key Highlights:

• Overall subscription reaching 0.47 times, showing steady progress though below full subscription
• QIB segment maintaining full subscription at 1.00 times after zero participation on day one
• Retail investors showing improved interest at 0.34 times, more than doubling day one's 0.13 times
• NII segment showing minimal interest at 0.09 times, reflecting cautious approach
• Total applications reaching 378, with 365 from retail investors
• Cumulative bid amount reaching ₹11.85 crores, showing measured interest in the offering
• Anchor investors having contributed significantly with ₹10.73 crores before the public issue opened

Rapid Fleet IPO - Day 2 Subscription at 0.44 Times

Key Highlights:

• Overall subscription improving to 0.44 times, showing significant growth from day one
• QIB segment reaching full 1.00 times subscription after zero participation on day one
• Retail investors more than doubling their interest to 0.29 times from day one's 0.13 times
• NII segment showing slight improvement to 0.06 times from day one's 0.03 times
• Day two showing substantial momentum building primarily from institutional participation
• Market response indicating strong institutional confidence in logistics sector
• Transportation services expertise attracting qualified institutional buyers
• Second day showing more than six-fold overall subscription increase compared to opening day

Rapid Fleet IPO - Day 1 Subscription at 0.07 Times

Key Highlights:

• Overall subscription opening at minimal 0.07 times, showing cautious initial investor approach
• Retail investors beginning with limited interest at 0.13 times, showing selective participation
• NII segment showing minimal initial interest at 0.03 times, indicating cautious evaluation
• QIB segment choosing to wait with zero participation on opening day
• First day demonstrating restrained investor engagement with the offering
• Initial momentum reflecting careful assessment of logistics sector investment opportunity
• B2B and B2C logistics services expertise drawing limited selective interest
• Opening day setting modest subscription baseline for building momentum in subsequent days

About Rapid Fleet IPO

Founded in 2006, Rapid Fleet Management Services Limited specializes in logistics and road transportation services for B2B and B2C clients. The company manages over 200 vehicles, serving FMCG, automobile, and electronics industries. They've developed their own mobile app for streamlined operations, focusing on client compliance through e-bidding, portal RFQs, and e-POD systems.

Their service portfolio includes Full/Partial Load transportation, Exim services with customs clearance capabilities, and Renewable Transportation Services specializing in Wind Turbine Generator components. With 68 employees as of August 2024, the company maintains a Pan-India presence.

Financial performance shows steady results with revenue of ₹116.32 crores in FY2024 and profit of ₹8.07 crores, yielding impressive metrics including 50.09% ROE and 43.11% ROCE. Key strengths include their integrated Transport Management System, in-house vehicle fleet, nationwide coverage, and quality-focused service approach.

Highlights of the Rapid Fleet IPO:

• IPO type: Book Built Issue SME IPO
• IPO size: ₹43.87 crores
• Fresh Issue: 22.85 lakh shares
• Face value: ₹10 per share
• Issue price band: ₹183 to ₹192 per share
• Lot size: 600 shares
• Minimum investment for retail investors: ₹1,15,200
• Minimum investment for HNI: ₹2,30,400 (2 lots)
• Market maker reservation: 4,21,800 shares
• Anchor portion: 5,58,600 shares (₹10.73 crores raised)
• Listing at: NSE SME