The shares of Rapid Multimodal Logistics debuted on the BSE SME platform with a premium of 22.6% on Friday. The stock listed at Rs 103 against an issue price of Rs 84.
Ahead of the listing, the company’s shares traded with a premium of 11% to the offer price.
The IPO, which was completely a fresh equity sale of 10.11 lakh shares, was booked over 300 times at close.
Chennai-based Rapid Multimodal is engaged in the business of providing one-stop logistical solutions to its clients. It majorly caters to the B2B segment of the industry, providing end-to-end logistics solutions to manufacturers to transport raw materials or finished goods.
The company is involved in the management and coordination of the movement of raw materials or finished goods throughout the supply chain, from the point of origin to the destination. It offers single as well as multimodal transportation services that involve the coordinated use of multiple modes of transportation (such as road, rail, and sea) within a single, integrated supply chain to optimize efficiency and meet the unique requirements of shipments.
It encompasses a diverse range of industries, including but not limited to Glass, Plywood, Paper, Edible oil, Gypsum boards, Iron & Steel, Scraps, Tiles, Sanitary, and Liquor industry.
The company is in collaboration with one of the leading players in the logistics industry and has a tie-up agreement with them on the yearly renewal of the contract of railway shipments for our clients. For railway and coastal transport orders, it deals with their authorized designated person.
The Indian transport and logistics sector is expected to increase at a CAGR of 4.5% from 2022 to 2050, reaching 15.6 trillion tonnes kilometres. The transport and logistics business was estimated to be around Rs 13-16 lakh crore ($156.18-192.23 billion) in 2022.
For the year ended March 2024, the company clocked revenues of Rs 71.84 crore and a net profit of Rs 1.79 crore.
