Schedule of Rapid Multimodal Logistics
| Issue open date | 22 Aug 2024 |
| Issue close date | 27 Aug 2024 |
| UPI mandate deadline | 27 Aug 2024 (5 PM) |
| Allotment finalization | 28 Aug 2024 |
| Refund initiation | 29 Aug 2024 |
| Share credit | 29 Aug 2024 |
| Listing date | 30 Aug 2024 |
| Mandate end date | 11 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 27 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 27 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Rapid Multimodal Logistics
Incorporated in 2020, Rapid Multimodal Logistics is engaged in the business of providing one-stop logistical solutions to the B2B segment of industries primarily like glass, plywood, paper, edible oil, Iron and steel, gypsum boards, scraps, tiles, sanitary, and liquor. The company provides an end-to-end logistics solution to manufacturers/traders to transport raw materials or finished goods. The Chennai-based company provides single as well as multimodal transportation services that involve the coordinated use of multiple modes of transportation (such as road, rail, and sea) right from shipment planning, route optimization, carrier selection, documentation, containerization, tracking to communication and coordination, last-mile delivery, and performance evaluation.
Financials of Rapid Multimodal Logistics
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹8.49 crores |
| Fresh Issue | ₹8.49 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 5.5 (64.78%) |
| General corporate purposes | 2.12 (25%) |
| Others | 0.87 (10.22%) |
Strengths
- Word-of-Mouth Acclaim and Informal Advocacy: In the logistics sector where intricate supply chains, punctual deliveries, and seamless communication are paramount, favorable word-of-mouth becomes a pivotal gauge of trust and credibility. Clients and partners, captivated by the company’s service have evolved into enthusiastic advocates.
- Cultivating Resilient Collaborations with Lorry Vendors: By cultivating strong and enduring partnerships with lorry vendors, The company has built a dedicated network of vendors committed to the efficiency and triumph of the logistics operations.
Risks
- Third-party dependence: The company depends significantly on third-party vendors to provide transport facilities. A loss of, or a significant decrease in the quality of services vendors provide could adversely affect the business and profitability.
- Negative cash flows in the past: The Company had a negative cash flow in its operating activities for the period ended September 30, 2023, March 31, 2023, Investing activities for the year ended March 31, 2023, 2022, and Financing Activity for the year ended March 31, 2023. Sustained negative cash flow in the future could impact the growth and business
- Higher competition: The Company operates in a highly fragmented and competitive industry and increased competition may lead to a reduction in revenues, reduced profit margins, or a loss of market share.