Rapid Multimodal Logistics IPO: The initial public offering (IPO) of logistics solutions provider Rapid Multimodal Logistics Ltd commenced today and got oversubscribed within hours of opening. Rapid Multimodal Logistics IPO will remain open till August 27.
Rapid Multimodal Logistics IPO is an SME IPO and the equity shares of the company will be listed on BSE SME.
Let us check Rapid Multimodal Logistics IPO GMP, subscription status and other key details:
Rapid Multimodal Logistics IPO Subscription Status
Rapid Multimodal Logistics IPO has been subscribed 2.23 times so far on Thursday, the first day of the bidding process. The public issue received bids for 21.44 lakh equity shares as against 9.60 lakh shares on the offer, according to the data available till 2:30 pm.
The IPO has been subscribed 4.01 times in the retail category, and 0.36 times in the Non-Institutional Investors (NII) category so far.
Rapid Multimodal Logistics IPO GMP Today
Rapid Multimodal Logistics shares are not commanding any premium or discount in the gray market. Rapid Multimodal Logistics IPO GMP today, or gray market premium today, is 0, according to stock market observers. This indicates that the Rapid Multimodal Logistics shares are trading at par with their issue price at 84 a piece in the grey market.
Rapid Multimodal Logistics IPO Details
Rapid Multimodal Logistics IPO opened for public subscription on Thursday, August 22, and will close on Tuesday, August 27. The IPO allotment date is August 28 and the IPO listing date is August 30. The equity shares of Rapid Multimodal Logistics will be listed on BSE SME.
Rapid Multimodal Logistics IPO price band is 84 per share. The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is 134,400.
The company plans to raise 8.49 crore from the fixed-price issue which is entirely a fresh issue of 10.11 lakh equity shares. The company intends to utilize the net issue proceeds for working capital requirements and general corporate purposes.
Gretex Corporate Services is the book running lead manager of the Rapid Multimodal Logistics IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
Narayan Agarwal, Manoj Goel, Summit Agarwal and Nidhi Agarwal are the promoters of the company.
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