The Popular Vehicles & Services IPO has announced book-built issue, amassing a substantial Rs 601.55 crores. This offering comprises a fresh issue of 0.85 crore shares, generating Rs 250.00 crores, and an offer for sale of 1.19 crore shares, totaling Rs 351.55 crores.
Popular Vehicles & Services IPO Subscription Window The Popular Vehicles & Services IPO will open for subscription on March 12, 2024, and it will conclude on March 14, 2024.
Popular Vehicles & Services IPO Allotment DateThe allotment results of Popular Vehicles & Services IPO are anticipated to be finalised on Friday, March 15, 2024.
Read More: R K Swamy IPO Listing On March 12: Know What Latest GMP Indicates
Popular Vehicles & Services IPO Listing DateThe tentative listing of on BSE and NSE is slated for Tuesday, March 19, 2024.
Popular Vehicles & Services IPO Price Band The Popular Vehicles & Services IPO has a price band set at Rs 280 to Rs 295 per share, the IPO beckons potential investors. The minimum lot size stands at 50 shares, requiring a retail investment of Rs 14,750. For savvy investors, the minimum lot size for sNII is 14 lots (700 shares), totaling Rs 206,500, while for bNII, it is 68 lots (3,400 shares), amounting to Rs 1,003,000.
Popular Vehicles & Services IPO GMPAs per multiple websites that track the grey market premium activities, the shares of Popular Vehicles & Services IPO are commanding a GMP in the price range of Rs 20 – Rs 30 in the unlisted market.
Read More: Shree Karni Fabcom IPO Closes Today: Check Subscription Status, GMP Today
Lead Managers and RegistrarICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited spearhead the IPO as the book running lead managers, with Link Intime India Private Ltd serving as the registrar for the issue.
About Popular Vehicles & Services LimitedEstablished in 1983, Popular Vehicles and Services Limited is a stalwart in the Indian automobile dealership landscape. Its services span the entire vehicle ownership life cycle, encompassing new and preowned vehicle sales, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.
Read More: Gopal Snacks IPO Closes Today: Should You Subscribe? Check Subscription Status, GMP Today
Business SegmentsPopular Vehicles’ business is intricately divided into three segments: Passenger vehicles, including luxury vehicles; Commercial vehicles; and Electric two-wheeler and three-wheeler vehicles.
Popular Vehicles & Services IPO UtilisationThe company plans to judiciously utilize the net proceeds for the repayment or pre-payment of certain borrowings, benefiting Popular Vehicles and its subsidiaries. This strategic move includes entities such as VMPL, PAWL, PMMIL, KGPL, KCPL, and PMPL. Additionally, the funds will be channeled towards general corporate purposes.
