Rapid Fleet IPO is a book-built issue valued at ₹43.87 crore. It is a 100% fresh issue of 22.85 lakh shares. It opened for subscription on March 21, 2025, and is closing soon on March 25, 2025. The allotment is expected to be finalised on March 26, 2025, with a tentative listing date of March 28, 2025, on the NSE SME platform.
The IPO price is set at a price band of ₹183 - ₹192 per share. Retail investors need a minimum investment of ₹1,15,200 for one lot of 600 Shares, while HNI investors must invest in at least 2 lots, amounting to ₹2,30,400.
Gretex Corporate Services Limited is the book-running lead manager for this issue, while Bigshare Services Private Limited serves as the registrar. Gretex Share Broking Private Limited is the market maker.
For detailed financial and operational information, investors can refer to the Rapid Fleet IPO RHP. This IPO presents an opportunity to invest in a growing enterprise listed on the NSE SME platform.
Industry Outlook
- The Indian logistics industry is projected to grow from USD 250 billion in 2021 to USD 380 billion by 2025, at a CAGR of 10-12%. The sector accounts for 14.4% of India’s GDP and is expected to benefit from government initiatives to reduce logistics costs from 13-14% to 10% of GDP by 2030.
- Infrastructure development and digitalisation are key growth drivers. The National Logistics Policy (NLP), Bharatmala Pariyojana, and PM GatiShakti aim to enhance road, rail, and port connectivity, improve efficiency, and promote multimodal transport.
- The port logistics sector, where Rapid Fleet Management Services Limited operates, is expanding due to coastal and inland waterway transport growth. The Indian government is investing heavily in Maritime India Vision 2030, aiming to shift freight movement from roads to waterways.
- E-commerce expansion and technological advancements in fleet management, AI-driven logistics, and IoT-enabled tracking are increasing demand for faster, cost-efficient supply chain solutions, positioning Rapid Fleet Management Services Limited for sustained growth.
Rapid Fleet IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- The company plans to purchase 9 trucks and 3 sets of extendable trailers for transporting wind turbine generators and 8 additional trucks for port operations, enhancing its logistics capabilities.
- A significant portion of the IPO proceeds, amounting to ₹1,912 lakh, is allocated to support day-to-day operations, fund increasing orders, and ensure business scalability.
- The company aims to enhance fleet management systems, route optimisation, and real-time tracking solutions to improve operational efficiency.
- Rapid Fleet Management Services Limited is expanding in Odisha and neighbouring states, leveraging government initiatives and increasing demand for efficient freight transport.
About Rapid Fleet Management Services Limited
The company was originally incorporated as Rapid Fleet Management Services Private Limited on December 26, 2017, under the Companies Act, 2013. It was later converted into a public limited company and renamed Rapid Fleet Management Services Limited on August 30, 2023
The company operates in the logistics and transportation sector, providing freight and cargo transport services across multiple industries. Its key focus areas include port-related logistics, bulk cargo transportation, and supply chain solutions, with a strong presence near Chennai Port and Mumbai Port
Rapid Fleet Management Services Limited specialises in inland transport for exports and imports, ensuring seamless movement of goods from ports to manufacturing facilities and vice versa. It manages a fleet of trucks, trailers, and container carriers, catering to industries like steel, fertilisers, petrochemicals, and general cargo
The company is investing in technology-driven fleet management, real-time tracking, and route optimisation to enhance logistics efficiency. Through its IPO, it aims to strengthen financial stability, scale operations, and integrate advanced logistics technologies
How To Check the Allotment Status of the Rapid Fleet IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Rapid Fleet IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Rapid Fleet IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Rapid Fleet IPO
Registered office: New No.9, Old No.5, Coral Merchant Street, Chennai – 600001, Tamil Nadu, India.
Phone: +91 44-25210132
E-mail: info@rapidtransportsystems.in
Rapid Fleet IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 50% of the Net Offer |
|
Retail Shares Offered |
Not less than 35% of the Net Offer |
|
NII (HNI) Shares Offered |
Not less than 15% of the Net Offer |
Rapid Fleet IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
600 |
₹1,15,200 |
|
Retail (Max) |
1 |
600 |
₹1,15,200 |
|
HNI (Min) |
2 |
1200 |
₹2,30,400 |
Rapid Fleet IPO Promoter Holding
Mr. Anand Poddar and Ms. Shruti Poddar are the company's promoters.
|
Share Holding Pre-Issue |
97.50% |
|
Share Holding Post Issue |
67.54% |
Key Performance Indicators for Rapid Fleet IPO
As of March 31, 2024, the market capitalisation of Rapid Fleet's IPO is ₹142.75 crore. Here are the KPIs of Rapid Fleet:
|
KPI |
Value |
|
EBITDA Margin (%) |
14.68 |
|
PAT Margin (%) |
6.98 |
|
RoE (%) |
50.09 |
|
RoCE (%) |
32.59 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
15.67 |
10.86 |
|
P/E (x) |
12.25 |
17.68 |
Note: The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.
The Post Issue EPS is calculated based on the post-issue shareholding and annualised FY earnings of March 31, 2024, that are available in RHP.
Rapid Fleet IPO Prospectus
Rapid Fleet IPO Registrar and Lead Managers
Rapid Fleet IPO Lead Managers
- Gretex Corporate Services Limited
Registrar for Rapid Fleet IPO
Bigshare Services Private Limited
- Contact Number: +91 22 6263 8300
- Email Address: ipo@bigshareonline.com
Rapid Fleet IPO Registrar
Financial Performance of Rapid Fleet Management Services Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| EBITDA | 1,696.95 | 1,213.32 | 872.32 |
| EBITDA Margin % | 14.68 | 11.50 | 7.67 |
| PAT | 807.19 | 471.34 | 339.59 |
| PAT Margin % | 6.98 | 4.47 | 2.99 |
| Networth | 2,014.98 | 1,207.79 | 741.45 |
| RoE % | 50.09 | 48.36 59.40 | 59.40 |
| RoCE % | 32.59 | 26.13 | 15.95 |
Know before investing
Strengths
8The company is an established logistics and transportation provider with a strong presence in multiple regions, catering to various industries.
It has extensive experience in port-related logistics, bulk cargo transportation, and supply chain management, ensuring smooth operations for industrial clients.
Its strategic location near major ports enables efficient movement of goods, reducing transit times and optimising costs for businesses relying on freight services.
The company operates a well-maintained fleet of trucks, trailers, and container carriers, ensuring reliable transportation and timely deliveries across different sectors.
Strong relationships with industrial clients in the steel, fertilisers, petrochemicals, and general cargo sectors provide consistent business and revenue stability.
Operational efficiency is a core focus, with investments in technology-driven fleet management, real-time tracking systems, and route optimisation to improve service quality.
The growing demand for logistics services due to increasing industrial activity, infrastructure development, and supply chain expansion presents significant business opportunities.
Government initiatives such as the National Logistics Policy, Bharatmala Pariyojana, and dedicated freight corridors are expected to enhance logistics infrastructure and create long-term growth prospects.
Risks
8The company's business is dependent on the road network, and any disruptions caused by political unrest, bad weather conditions, natural calamities, driver fatigue, or accidents can impact operations, increasing maintenance and operational costs.
The company faces regulatory challenges, requiring various statutory approvals, which, if delayed or not obtained, could negatively affect business operations.
Rising operational expenses, including fuel costs, toll charges, and lorry hire charges, may affect profitability if the company cannot pass these costs on to customers.
Economic volatility, fluctuations in freight rates, and changes in government policies related to logistics and transportation could impact revenue and financial stability.
Cybersecurity risks, including potential breaches in digital systems, could disrupt operations and compromise sensitive business data.
The company relies heavily on third-party service providers, including independent truck owners and logistics partners, which may pose risks if service quality or availability declines.
Competition in the logistics sector is intense, with established players investing in infrastructure and digital technologies that could impact the company's market position.
Delayed payments from clients, including government entities and corporate customers, could affect cash flow, leading to working capital constraints.
Rapid Fleet Management Services Limited Peer Details Comparison
| Company Name | Revenue from Operations (₹ in Lakh) | RoNW (%) | P/E Ratio | EPS (₹) |
|---|---|---|---|---|
| Rapid Fleet Management Services Limited | 11,558.61 | 40.06 | [●] | 16.14 |
| Premier Roadlines Limited | 22,854.31 | 31.77 | 16.98 | 7.50 |
| AVG Logistics Limited | 47,976.20 | 16.35 | 17.72 | 27.34 |
