As a company specializing in fleet management and logistics services, Rapid Fleet Management Services Ltd plays a crucial role in India’s growing transportation sector. But is this IPO Halal? In this article, we conduct a Shariah screening to determine whether Rapid Fleet Management Services Ltd IPO meets Islamic investment principles or falls into the Non-Halal category. Read on for a detailed compliance analysis!
Is Rapid Fleet Management Services Ltd IPO Halal or Not?
The Rapid Fleet Management Services Ltd IPO is considered Not Halal and Non-Shariah Compliant because the company fails the “Interest-Bearing Debt to Total Assets” criterion, with an interest-bearing debt ratio of 33.63%, surpassing the allowable 33% limit under Shariah guidelines.
Refer to Rapid Fleet IPO RHP for detailed information.
Shariah Compliance Analysis of Rapid Fleet Management Services Ltd
NOT HALAL / NON-SHARIAH COMPLAINT
| Criteria | Value | Status |
| Business Activity | Service | ✅ PASS |
| Impermissible Income to Total Revenue | 2.71% | ✅ PASS |
| Interest-Bearing Debt to Total Assets | 33.63% | ❌ FAIL |
| Illiquid Assets to Total Assets Ratio | 34.72% | ✅ PASS |
| Net Liquid Assets vs Market Capitalization | Compliant as per Shariah principles | ✅ PASS |
| Non-Compliant Investments to Total Assets | Less than 33% (Compliant) | ✅ PASS |
Listing Details of Rapid Fleet Management Services Ltd IPO
| IPO Opening Date | Fri, Mar 21, 2025 |
| IPO Closing Date | Tue, Mar 25, 2025 |
| Expected Allotment Date | wed, Mar 26, 2025 |
| Refund Initiation | Thur, Mar 27, 2025 |
| Shares Credited to Demat | Thur, Mar 27, 2025 |
| Expected Listing Date | Fri, Mar 28, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on Mar 25, 2025 |
Rapid Fleet Management Services Ltd IPO Price and Issue Details
| IPO Date | March 21, 2025 – March 25, 2025 |
| Expected Listing Date | Fri, Mar 28, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹183 – ₹192 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 22,84,800 shares (₹43.87 Cr) |
| Fresh Issue | 22,84,800 shares (₹43.87 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Pre-Issue Shareholding | 51,50,000 shares |
| Post-Issue Shareholding | 74,34,800 shares |
| Market Maker Portion | 4,21,800 shares MLB Stock Broking Private Limited |
Business Overview of Rapid Fleet Management Services Ltd
Rapid Fleet Management Services Ltd is a Chennai-based logistics and transportation company specializing in efficient fleet management solutions. Established in 2006, the company operates a diverse fleet catering to industries like FMCG, automotive, and electronics. With a strong focus on technology-driven logistics, Rapid Fleet has developed its own mobile application to streamline operations and ensure round-the-clock service.
The company offers a range of services, including full and partial load transportation, bonded warehousing, packaging, and specialized logistics for renewable energy projects. With an ISO 9001:2015 certification, Rapid Fleet Management Services Ltd emphasizes quality, reliability, and customer satisfaction, positioning itself as a key player in India’s growing logistics sector.
Rapid Fleet Management Services Ltd Financial Information (Restated)
| Category | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | ₹101.3 Cr | ₹70.66 Cr | ₹71.81 Cr | ₹75.37 Cr |
| Revenue | ₹87.39 Cr | ₹116.32 Cr | ₹106.03 Cr | ₹114.02 Cr |
| Profit After Tax | ₹7.01 Cr | ₹8.07 Cr | ₹4.71 Cr | ₹3.4 Cr |
| Net Worth | ₹28.89 Cr | ₹20.15 Cr | ₹12.08 Cr | ₹7.41 Cr |
| Reserves & Surplus | ₹23.74 Cr | ₹20.05 Cr | ₹11.98 Cr | ₹7.31 Cr |
| Total Borrowing | ₹34.07 Cr | ₹14.93 Cr | ₹15.79 Cr | ₹27.43 Cr |
Conclusion
Based on the Shariah screening Standard, Rapid Fleet Management Services Ltd IPO is Considered Not Halal and Non-Shariah compliant due to its high reliance on interest-based debt. (Allah Knows the best)
Disclaimer: The information on Halalfinance.co.in is for educational and informational purposes only and not financial advice. We are not liable for any investment decisions you make; always consult a financial advisor before investing.
Hasan is the founder of HalalFinance.co.in, created after personally struggling to find reliable answers about halal investing in stocks. With a finance background and a passion for helping the Muslim community, He now shares well-researched, transparent, and authentic content to empower Muslims on their path to halal wealth-building.