Rapid Fleet Management IPO: Check key dates, price band, GMP and other details

The SME IPO of Rapid Fleet Management is set to open for subscription from March 21 to March 25. The company plans to raise Rs 44 crore through the issuance of 22.84 lakh fresh equity shares. The shares will be listed on the NSE SME platform.

Rapid Fleet Management IPO price band

The shares are priced at Rs 192 each, and investors can apply in lots of 600 shares. The total issue is reserved 35% for retail investors, 15% for non-institutional investors and 50% reserved for institutional investors.

Check GMP of Rapid Fleet Management

Rapid Fleet Management GMP is currently zero in the unlisted market. Most of the SME IPOs this year faced NIL GMPs in the run up to the launch.

The use of IPO proceeds

The proceeds from the IPO will be utilized for several purposes, including purchase of vehicles, working capital requirements and general corporate purposes.

Key dates: Allotment and listing

The share allotment process will be finalized on March 26, and the shares are expected to list on March 28. Investors should keep these dates in mind to track their applications.

About Rapid Fleet Management

Rapid Fleet Management is a Chennai based company who provides road transportation logistics services tailored to the diverse needs of its B2B and B2C clientele. The process begins with order booking, followed by route planning to optimize efficiency. Each shipment is carefully matched with an appropriate vehicle, factoring in cargo specifics for safe transit.

The company serves a wide array of industries, including but not limited to Tyre, Logistics, Electronics, FMCG, Renewable, Durables, FNB and Chemical.

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