Rapid Multimodal Logistics IPO: Price Band And Day 2 Subscription Status
The SME IPO was subscribed 2.94 times on Thursday.
The Initial Public Offering for Rapid Multimodal Logistics Ltd. opened on Thursday and will remain available for subscription until August 27. The SME IPO was subscribed 2.94 times on Thursday.
The SME issue is a fixed price offering amounting to Rs. 8.49 crore, comprising a fresh issue of 10.11 lakh shares priced at Rs. 84 each. Investors can apply for a minimum lot size of 1,600 shares, which requires an investment of Rs 134,400. High Net-Worth Individuals can apply for a minimum of 2 lots, equating to 3,200 shares and a total investment of Rs 268,800.
Gretex Corporate Services Ltd. is the book-running lead manager for the SME IPO, while Bigshare Services Pvt Ltd. will act as the registrar. Gretex Share Broking will serve as the market maker for this offering.
As per the company's red herring prospectus, out of the 1,011,200 shares offered - 47.47% is reserved for Retail investors, 47.47% for NIIs and the remaining 5.06% has been reserved as market maker portion.
The allotment for the IPO is expected to be finalized on August 28, with the shares scheduled to be listed on the BSE SME platform on August 30.
Rapid Multimodal Logistics IPO Day 2 Subscription Status
The IPO was subscribed 11.50 times on Friday.
Non-institutional Buyers: 4.44 times.
Retail Investors: 18.56 times.
About Rapid Multimodal Logistics Ltd.
Founded in July 2020 and based in Chennai, Rapid Multimodal Logistics Ltd. specialises in providing comprehensive logistical solutions primarily to the B2B sector. The company offers both single and multimodal transportation services, integrating road, rail, and sea transport to enhance supply chain efficiency. Its services cover route planning, carrier selection, documentation, tracking, and last-mile delivery. The company serves a diverse range of industries including glass, plywood, paper, edible oil, gypsum boards, iron and steel, and more.
Rapid Multimodal Logistics IPO: Use of Funds and Objectives
The funds raised from the IPO will be used for working capital requirements to support the company’s operational needs and growth. It will also be sued for general corporate purposes, for overall business development and operational enhancement.
