Rapid Multimodal Logistics share price makes a strong debut, stock opens with 22.62% premium at ₹103 apiece on BSE SME

Rapid Multimodal Logistics share price made a strong debut on BSE SME today. Rapid Multimodal Logistics share price today opened at ₹103, which is 22.62% higher than the issue price of ₹84.

The IPO subscription for Rapid Multimodal Logistics started on Thursday, August 22 and ended on Tuesday, August 27. The IPO was priced at ₹84 per share, and Rapid Multimodal Logistics IPO offered a lot size of 1,600 shares. Rapid Multimodal Logistics IPO subscription status was 350.50 times on the third bidding day.

The firm, which is based in Chennai, specialises in serving the B2B market and provides clients with full logistical solutions. They assist producers and dealers in the transportation of raw materials and completed goods by providing end-to-end logistics services. The organisation oversees and plans the transportation of goods from point of origin to point of destination.

The company's promoters are Narayan Agarwal, Manoj Goel, Summit Agarwal, and Nidhi Agarwal.

The company's listed peers are Chartered Logistics Ltd (with a P/E of 52.89), and Shree Vasu Logistics Ltd (with a P/E of 84.08).

Rapid Multimodal Logistics Limited experienced a 2% drop in revenue and an 11% reduction in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the preceding year ending March 31, 2023.

Rapid Multimodal Logistics IPO details

Rapid Multimodal Logistics IPO, which is worth about ₹8.49 crore, consists of a fresh issue of 1,011,200 equity shares with a face value of ₹10. There is no offer-for-sale component.

The company plans to utilise the funds raised from the new offering for a range of purposes, such as general corporate needs and operational capital.

Gretex Corporate Services Limited is the lead manager for the IPO of Rapid Mutlimodal Logistics, while Bigshare Services Pvt Ltd is appointed as the issue's registrar. The market maker for the Rapid Mutlimodal Logistics IPO is Gretex Share Broking.

Rapid Multimodal Logistics IPO GMP today

Rapid Multimodal Logistics IPO GMP is +10. This indicates Rapid Multimodal Logistics share price were trading at a premium of ₹10 in the grey market, according to investorgain.com.

Based on the top end of the IPO price range and the current premium in the grey market, Rapid Multimodal Logistics share price is expected to debut at ₹94 per share, representing an 11.9% increase over the IPO price of ₹84.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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