Popular Vehicles & Services IPO: Here are 10 things to know about the issue

Approximately 50 percent of the issue is allocated for Qualified Institutional Buyers (QIB), with no less than 35 percent reserved for retail investors and a minimum of 15 percent earmarked for Non-Institutional Investors (NII).

Also read: Popular Vehicles IPO opens next week. GMP, review, other details of upcoming IPO

Popular Vehicles and Services Limited operates within the automotive dealership sector in India, offering a comprehensive range of vehicle-related services including sales of new and pre-owned vehicles, servicing, spare parts distribution, driving schools, and sales of third-party financial and insurance products.

During the fiscal year 2023, the company witnessed a notable surge in revenue, marking a growth of 40.42 percent, while its Profit After Tax (PAT) saw a significant increase of 90.31 percent.

Also read: ₹280-295 apiece, check issue details, key dates, more”>Popular Vehicles and Services IPO: Price band set at ₹280-295 apiece, check issue details, key dates, more

Here are 10 important factors to consider about Popular Vehicles & Services IPO ahead of opening for subscription –

1. Popular Vehicles & Services IPO date: The forthcoming IPO is scheduled to open for bidding on March 12, 2024, with the bidding phase concluding on March 14, 2024.
2. Popular Vehicles & Services IPO price band: The company has established the price range for the public offering at ₹280 to ₹295 per share.
3. Popular Vehicles & Services IPO size: The offering comprises both fresh shares and an Offer for Sale (OFS), with the objective of raising ₹601.55 crore from its initial offer. Of this amount, ₹250 crore is allocated to the fresh issue, while the remaining ₹351.55 crore is earmarked for the OFS.
4. Popular Vehicles & Services IPO lot size: Investors have the option to apply in lots of 50 shares of the automobile retailer company.
5. Popular Vehicles & Services IPO promoters: The company’s promoters include John K. Paul, Francis K. Paul, and Naveen Philip.
6. Popular Vehicles & Services IPO allotment date: It is anticipated that the allotment for the automobile company IPO will be finalised on Friday, March 15, 2024.
7. Popular Vehicles & Services IPO listing date: The initial public offering (IPO) of Popular Vehicles & Services will be listed on both the BSE and NSE, with a tentative listing date set for Tuesday, March 19, 2024.
8. Popular Vehicles & Services IPO registrar: Link Intime India Private Ltd serves as the registrar for the upcoming IPO.
9. Popular Vehicles & Services IPO book-running managers: The book running lead managers of the public issue are ICICI Securities Limited, Nuvama Wealth Management Limited and Centrum Capital Limited.
10. Popular Vehicles & Services IPO GMP: The shares of the company are currently available at a premium of ₹27 in the grey market today.

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Published: 10 Mar 2024, 05:05 PM IST