Rapid Multimodal Logistics’ share price opened strongly on the BSE SME at ₹103, marking a 22.62% increase from its issue price of ₹84. This robust debut today highlights significant investor interest and a positive market reception for the newly listed company.
Rapid Multimodal Logistics IPO, on the third day of bidding, achieved a subscription rate of 350.50 times, indicating an overwhelmingly positive response and strong investor demand for the initial public offering of the company.
Rapid Multimodal Logistics, based in Chennai, specialises in comprehensive logistics solutions, primarily serving the B2B sector. The company manages the entire supply chain, from sourcing raw materials to delivering finished products, utilising multimodal transportation methods like road, rail, and sea to enhance efficiency. Services include shipment planning, route optimization, carrier selection, documentation, tracking, and last-mile delivery.
Rapid Multimodal Logistics Ltd’s IPO aimed to raise INR 5.50 crores for working capital and INR 1.75 crores for corporate purposes, including strategic initiatives and brand enhancement.