The Popular Vehicles & Services IPO Date Will be Start from March 12, 2024 and closes on March 14, 2024 . Read the post to learn about Popular Vehicles and Services IPO GMP.
Popular Vehicles And Services Limited aims to raise Rs 601.55 crores via an IPO, employing a book building strategy. Investors can purchase shares within the ₹280 to ₹295 range. Each application must have a minimum lot size of 50 shares. Retail investors need to invest at least ₹14,750. For those interested in sNII, the entry threshold is set at a minimum of 14 lots, which translates to 700 shares, costing ₹206,500. Conversely, bNII requires a larger initial investment of 68 lots (3,400 shares), amounting to ₹1,003,000.
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Bidding Dates
March 12-14
Price Range
₹280 to ₹295 per share
Face Value
₹2 per share
GMP
₹0
Popular Vehicles And Services GMP
The Popular Vehicles IPO GMP Today is ₹0.
IPO Overview
An IPO through book-building is being conducted by Popular Vehicles & Services, with a target of Rs 601.55 crore. Popular Vehicles introduces a dual offering, featuring 0.85 crore shares priced at Rs 250.00 crores and an offer for sale of 1.19 crore shares totaling Rs 351.55 crores. The Popular Vehicles & Services IPO subscription opens on March 12, 2024, and closes on March 14, 2024. The allotment process for the Popular Vehicles & Services IPO is set to conclude by Friday, March 15, 2024. The IPO from Popular Vehicles & Services is poised to hit the BSE and NSE markets, tentatively targeting a listing date of Tuesday, March 19, 2024.
Investors can purchase shares of Popular Vehicles and Services within the price range of ₹280-₹295. Popular Vehicles IPO GMP Today is ₹0. To apply, individuals must hold at least 50 shares per lot. To start investing, retail investors need at least ₹14,750. sNII necessitates a minimum investment of 14 lots (700 shares), with a value of ₹206,500, while bNII demands 68 lots (3,400 shares), totaling ₹1,003,000.
Popular Vehicles & Services IPO Details
| IPO Date | March 12, 2024 to March 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹280 to ₹295 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 20,391,651 shares (aggregating up to ₹601.55 Cr) |
| Fresh Issue | 8,474,576 shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | 11,917,075 shares of ₹2 (aggregating up to ₹351.55 Cr) |
| Employee Discount | Rs 28 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 62,721,445 |
| Share holding post issue | 71,196,021 |
Popular Vehicles And Services IPO Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,941.78 | 1,503.78 | 1,263.29 | 1,118.94 |
| Revenue | 2,848.21 | 4,892.63 | 3,484.20 | 2,919.25 |
| Profit After Tax | 40.04 | 64.07 | 33.67 | 32.46 |
| Net Worth | 384.21 | 343.04 | 279.89 | 246.00 |
| Reserves and Surplus | 371.67 | 330.50 | 267.34 | 233.46 |
| Total Borrowing | 764.61 | 505.01 | 371.91 | 353.04 |
| Amount in ₹ Crore | ||||
Popular Vehicles & Services IPO Timeline
| IPO Open Date | Tuesday, March 12, 2024 |
| IPO Close Date | Thursday, March 14, 2024 |
| Basis of Allotment | Friday, March 15, 2024 |
| Initiation of Refunds | Monday, March 18, 2024 |
| Credit of Shares to Demat | Monday, March 18, 2024 |
| Listing Date | Tuesday, March 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 14, 2024 |
Company Profile
Founded in 1983, Popular Vehicles and Services Limited runs automotive retail outlets throughout India. Popular Vehicles offers a holistic approach to vehicle ownership, providing a range of services from sales of new and used vehicles to maintenance, spare parts distribution, driving instruction, and sales assistance for financial and insurance products from third-party sources. The company currently operates a vast network that includes 59 showrooms, 126 sales outlets and booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorised service centres, 40 retail outlets, and 24
warehouses spread across 14 districts in Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, and 7 districts in Maharashtra. In addition to showrooms, sales outlets and booking offices help to facilitate sales, while retail stores sell and distribute spare parts and accessories. In fiscal year 2023, the firm serviced 791,360 vehicles – 5,212 luxury, 163,013 commercial, 1,918 electric two-wheelers, and 857 electric three-wheelers – via 130 authorised service centres spread among dealerships. The company’s total income exhibited steady growth, with figures of ₹29,192.52 million, ₹34,841.99 million, and ₹48,926.28 million for Fiscals 2021, 2022, and 2023, respectively. As of July 31, 2023, the company employed a total of 10,275 people.
The company’s business can be divided into three segments
- passenger vehicles including luxury vehicles,
- commercial vehicles and
- electric two-wheeler and three-wheeler vehicles
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
