Rapid Multimodal Logistics IPO Day 4: Issue subscribed over 67 times so far; Latest GMP, other key details of SME IPO

Rapid Multimodal Logistics IPO: The initial public offering (IPO) logistical solutions provider Rapid Multimodal Logistics Ltd commenced on August 22 and has been receiving strong demand from investors. Rapid Multimodal Logistics IPO closes today, 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 67.86 times so far on Tuesday, the fourth and the last day of the bidding process. The public issue received bids for 6.51 crore equity shares as against 9.60 lakh shares on the offer, according to the data available till 1:35 pm.

The IPO has been subscribed 91.31 times in the retail category, and 40.76 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 grey market. Rapid Multimodal Logistics IPO GMP today, or grey 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 apiece in the grey market.

Rapid Multimodal Logistics IPO Details

Rapid Multimodal Logistics IPO opened for public subscription on Thursday, August 22, and closes today, 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.

Read all IPO news here