Popular Vehicles & Services IPO Review

 
Popular Vehicles & Services IPO Review

IPO Open Date: March 12, 2024

IPO Close Date: March 14, 2024

IPO Price: ₹280 to ₹295 per share

Lot Size: 50 Shares

Listing: March 19, 2024

Popular Vehicles & Services is scheduled to hit the market on March 12, 2024 and close on March 14, 2024. Popular Vehicles & Services plans to raise around ₹601.55 Cr through an IPO with a sale of up to 20,391,651 equity shares of ₹2 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Established in 1983, it is a key player in the Indian automobile dealership industry. The company offers a wide range of services across passenger vehicles (including luxury cars), commercial vehicles, and electric two-wheeler and three-wheeler vehicles.

With a vast network of showrooms, sales outlets, service centers, and warehouses spread across multiple districts, Popular Vehicles serviced 791,360 vehicles in FY 2023, marking significant growth in both PAT and total income over the years. As of July 31, 2023, the company employed 10,275 individuals dedicated to providing quality services to customers.

Popular Vehicles & Services


Popular Vehicles & Services IPO Details

Popular Vehicles & Services IPO opens on March 12, 2024, and closes on March 14, 2024. The Listing date for Popular Vehicles & Services IPO is on March 19, 2024. The price band for IPO is ₹280 to ₹295 per share and lot size of 50 Shares.

IPO DateMar 12, 2024 to Mar 14, 2024
Listing DateMar 19, 2024
Price₹280 to ₹295 per share
Lot Size50 Shares
Issue Size₹601.55 Cr
Face Value₹2 per share

Popular Vehicles & Services IPO Tentative Timetable

Popular Vehicles & Services opening date is March 12, 2024 and close date is March 14, 2024. The IPO allotment date is March 15, 2024. The refund initiation of IPO is on March 18, 2024. The credit of shares in demat account is on March 18, 2024. The listing date is on March 19, 2024.

EventDate
IPO OpeningMar 12, 2024
IPO ClosingMar 14, 2024
IPO Allotment DateMar 15, 2024
Refund InitiationMar 18, 2024
Shares Credit to DematMar 18, 2024
Lisiting DateMar 19, 2024

Popular Vehicles & Services IPO Lot Size

Lot Size of this IPO is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or ₹191,750).

CategoryLotsSharesAmount
Retail(Minimum)150₹14,750
Retail(Maximum)13650₹191,750
S-HNI (Minimum)14700₹206,500
B-HNI (Minimum)683400₹1,003,000

Popular Vehicles & Services IPO Promoter Holding

Pre Issue Share Holding65.79%
Post Issue Share Holding

Popular Vehicles & Services IPO Review

Popular Vehicles & Services Ltd. (PVSL) is gearing up for its inaugural IPO, comprising fresh equity shares and an Offer for Sale (OFS) to raise capital for debt repayment and general corporate purposes. The IPO, priced between Rs. 280 to Rs. 295 per share, is poised to significantly bolster PVSL's market capitalization. As a prominent player in India's automobile dealership sector, PVSL boasts a comprehensive business model catering to the entire vehicle ownership lifecycle, including sales, servicing, spare parts distribution, and pre-owned vehicle sales. With a strong presence in four states and a vast network of 400+ touchpoints, PVSL stands out as a leading entity in the industry.

Investors eyeing medium to long-term prospects may find PVSL's IPO intriguing despite its seemingly full valuation based on FY24 earnings. PVSL's revenue diversification across passenger vehicles, commercial vehicles, and electric two-wheeler and three-wheeler segments, coupled with strategic partnerships with major OEMs like Maruti Suzuki and Jaguar Land Rover, underpin its growth potential. The company's proactive expansion through acquisitions and post-sale service enhancements reflect a commitment to sustained growth. With solid financial performance, margin improvements, and a positive outlook from management, PVSL presents an enticing investment avenue for those seeking exposure to India's booming automobile market.

PVSL's IPO not only offers investors an opportunity to tap into India's thriving automobile industry but also showcases the company's resilience and adaptability in a competitive market landscape. By leveraging its extensive network of showrooms, sales outlets, service centers, and warehouses, PVSL has positioned itself as a formidable player with a strong foothold in key regions. The IPO's emphasis on debt reduction and strategic capital utilization underscores PVSL's commitment to financial prudence and long-term value creation. Overall, PVSL's IPO represents a compelling investment proposition for discerning investors looking to capitalize on the company's established market presence and growth-oriented strategies in the automobile dealership and servicing domain in India.

Popular Vehicles & Services IPO Subscription Status (Bidding Details)

Table not found

Popular Vehicles & Services IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Popular Vehicles & Services IPO FAQs

What is Popular Vehicles & Services IPO?

Popular Vehicles & Services is issuing 20,391,651 equity shares with a face value of ₹2 each, totaling up to ₹601.55 Cr. The shares are being offered at a price of ₹280 to ₹295 each, with a minimum order quantity of 50 shares.

Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Popular Vehicles & Services IPO will open?

Popular Vehicles & Services will open on March 12, 2024 for QIB, NII, and Retail Investors.

When Popular Vehicles & Services IPO will end?

Popular Vehicles & Services will end on March 14, 2024.

What is Popular Vehicles & Services IPO Size?

Popular Vehicles & Services IPO size is 601.55 Cr.

What is Popular Vehicles & Services IPO Price Band?

Popular Vehicles & Services price band is 280 to ₹295 per share.

What is the Popular Vehicles & Services IPO Allotment Date?

Popular Vehicles & Services allotment date is March 15, 2024.

What is the Popular Vehicles & Services IPO Listing Date?

Popular Vehicles & Services listing date is March 19, 2024. The IPO is to be listed on BSE and NSE.

How to Popular Vehicles & Services IPO through Zerodha?

To apply for the IPO “Popular Vehicles & Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Popular Vehicles & Services IPO through Upstox?

To apply for the IPO “Popular Vehicles & Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Popular Vehicles & Services IPO Allotment Status?

For Popular Vehicles & Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Popular Vehicles & Services IPO GMP?

You can check out here: Popular Vehicles & Services IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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