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Rapid Fleet Management IPO
Rapid Fleet Management Services Ltd
₹1,09,800 /600 sharesMinimum Investment
Rapid Fleet Management IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹192.00 | ₹195.00 | ₹3.00 (1.56%) |
Rapid Fleet Management IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 21 Mar ‘25 - 25 Mar ‘25 | ₹1,09,800 | 600 | ₹183 - ₹192 |
| Issue Size | IPO Doc |
|---|---|
| 43.87Cr | RHP PDF |
Subscription rate
As of 25 Mar'25, 04:00 PM
| Qualified Institutional Buyers | 1.07x |
| Non-Institutional Investor | 5.75x |
| Retail Individual Investor | 0.70x |
| Total | 1.43x |
About Rapid Fleet Management
Founded in
2017
Managing director
Mr. Anand Poddar
Parent organisation
Rapid Fleet Management Services Ltd
Strengths & Financials of Rapid Fleet Management
Strengths
Risks
Rapid Fleet claims to have implemented Digitify Book, a cutting-edge TMS that streamlines operations. This system enhances efficiency by optimising resource utilisation, improving load planning, and ensuring real-time visibility of fleet movements. The company also claims to use GPS tracking and cell triangulation to provide real-time updates on truck locations.
Rapid Fleet claims to leverage a self-learning algorithm that matches loads with trucks based on historical data, waiting times, and proximity. This system reportedly improves efficiency, reduces idle time, and enhances overall fleet utilisation levels.
The company claims to maintain a strategic balance between owned and market trucks, with approximately 35-40% of revenue coming from its fleet. Also, it reportedly secures 80-90% advance payments for market trucks.
The company is ISO 9001:2015 certified for quality management systems.
The company has seen a consistent increase in profit after tax (PAT). PAT increased from Rs 3.39 crore in FY22 to Rs 4.71 crore in FY23 to Rs 8.07 crore in FY24.
The company, its promoters, and its directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company’s revenue largely depends on full-load services. Full-load services contributed Rs 63.13 crore (74%) for the six months ending in September 2024 and Rs 63.38 crore (56%), Rs 68.43 crore (65%), and Rs 60.78 crore (53%) to the revenue in FY24, FY23, and FY22, respectively. Any decline in services or disruptions in the full-load services segment could adversely impact the company’s financial performance.
The company derives a large part of its revenue from operations in the state of Tamil Nadu. Tamil Nadu contributed Rs 52.02 crore (61.18%) for the six months ending in September 2024 and Rs 67.35 crore (58.27%), Rs 48.77 crore (46.20%), and Rs 52.98 crore (46.60%) to the revenue in FY24, FY23, and FY22, respectively. Any adverse political, social or economic developments in this region can negatively impact the company.
The top 10 customers contributed Rs 82.13 crore (96.59%) for the six months ending in September 2024 and Rs 112.95 crore (97.70%), Rs 104.81 crore (99.30%), and Rs 113.44 crore (99.80%) to the revenue from operations in FY24, FY23, and FY22, respectively. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could hit the company’s business and financial standing.
The company generated negative cash flows from investing activities of Rs 8.40 crore, Rs 9.81 crore, Rs 4.39 crore, and Rs 17.54 crore for the period ended September 30, 2024, FY24, FY23, and FY22, respectively. Also, it logged negative cash flows from financing activities of Rs 2.03 crore, and Rs 13.14 crore for FY24 and FY23, respectively. Any inability to effectively manage cash outflows in the future may adversely impact the company’s business, financial condition, and results of operations.
As of September 30, 2024, the company had outstanding financial indebtedness of Rs 33.80 crore. Any failure to service or repay these loans could harm the company’s operations and financial position.
Rapid Fleet Management Financials
*All values are in Rs. Cr
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Application Details of Rapid Fleet Management IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹183 - 192 | ₹2 - 5 Lakh |
| High Networth Individual | ₹183 - 192 | ₹2 - 5 Lakh |
For Rapid Fleet Management IPO, eligible investors can apply as Regular.