Rapid Multimodal Logistics IPO Kicks Off Tomorrow at ₹84 Per Share: Don’t Miss Out on Key Details
The IPO for Rapid Multimodal Logistics starts on Thursday, August 22, and will close on Tuesday, August 27. The price for the IPO is set at ₹84 per share, with a minimum lot size of 1,600 shares. This price is 8.4 times the face value of the shares.
Based in Chennai, Rapid Multimodal Logistics provides full logistics services to businesses, helping them transport raw materials and finished goods. The company manages the entire supply chain from start to finish.
The promoters of the company are Mr. Narayan Agarwal, Mr. Manoj Goel, Mr. Summit Agarwal, and Ms. Nidhi Agarwal.
The company’s peers include Chartered Logistics Ltd, which has a P/E ratio of 52.89, and Shree Vasu Logistics Ltd, with a P/E of 84.08.
For the financial year ending March 31, 2024, Rapid Multimodal Logistics saw a 2% drop in revenue and an 11% decrease in profit compared to the previous year.
Shares will be allocated on Wednesday, August 28, and refunds will be processed on Thursday, August 29. Shares will be credited to demat accounts on the same day. The IPO shares are expected to be listed on the BSE SME on Friday, August 30.
The IPO, valued at approximately ₹8.49 crore, includes a fresh issue of 1,011,200 shares with a face value of ₹10. There is no offer-for-sale component.
The funds from this IPO will be used for general corporate needs and working capital.
Gretex Corporate Services Limited is the book-running lead manager for the IPO, Bigshare Services Pvt Ltd is the registrar, and Gretex Share Broking is the market maker.
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