Popular Vehicles & Services Limited IPO is set to launch on 12 March, 2024. The company initiated its business operations in 1983. It is involved in the business of automobile dealerships in India. Its business is divided into 3 verticals namely Commercial vehicles, Passenger vehicles including luxury Cars and Electric Two wheeler and three wheeler vehicles. Popular Vehicles & Services Limited has a network of 59 showrooms, 31 pre-owned vehicles and showrooms, 126 sales and booking offices, 40 retail outlets, 134 authorised service centres and 24 warehouses. The location of this network is spread across 14 districts in Kerala, 12 Districts in Tamil Nadu, 8 districts in Karnataka and 7 districts in Maharashtra. The company has serviced 791360 vehicles in the last year. It has an employee base of 10275 people.
Popular Vehicles & Services Limited IPO DETAILS
Popular Vehicles & Services Limited IPO is set to launch on 12 March, 2024. The subscription timeline extends till 14 March, 2024. The size for the IPO is 601.55 Crore Rs. Shares issued through fresh issue mode are worth Rs 250 Crore. Shares issued through offer for sale mode are worth Rs 351.55 Crore. The lot size is 50 shares and the price is 280 Rs to 295 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 2 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Popular Vehicles & Services Limited IPO
| IPO OPENING DATE | 12 March, 2024 |
| CLOSING DATE FOR IPO | 14 March, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 2 Rs. per share |
| IPO price band | 280 Rs. to 295 Rs. per share |
| LOT SIZE | 50 shares |
| MINIMUM ORDER QUANTITY | 50 shares |
| ISSUE SIZE | 601.55 Crore Rs. |
| OFFER FOR SALE | 351.55 Crore Rs. |
| FRESH ISSUE | 250 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 19 March, 2024 |
Popular Vehicles & Services Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 12 March, 2024 |
| CLOSING DATE FOR IPO | 14 March, 2024 |
| IPO ALLOTMENT DATE | 15 March, 2024 |
| REFUNDS | 18 March, 2024 |
| DEMAT A/C CREDITED ON | 18 March, 2024 |
| IPO LISTING DATE | 19 March, 2024 |
Popular Vehicles & Services Limited IPO begins for subscription from 12 March, 2024. The IPO subscription would continue till 14 March, 2024. The allotment status for the shareholders who applied would come on 15 March, 2024. The refunds for the ones who did not get allotment would be initiated on 18 March, 2024. The DEMAT accounts of shareholders would be credited on 18 March, 2024. The listing of the company would be completed on 19 March, 2024.
Popular Vehicles & Services Limited IPO : Lead Managers
The lead managers are :
- Nuvama Wealth Management Limited
- ICICI Securities Limited
- Centrum Capital Limited
The minimum lot size for the company is decided at 50 shares. This holding accounts to 14750 Rs.. The maximum lot size is decided at 650 shares. This amounts to 191750 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 50 shares | 14750 Rs. |
| Maximum | 650 shares | 191750 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 1118 | 1264 | 1504 |
| Revenue | 2919 | 3484 | 4892 |
| PAT | 32 | 33 | 64 |
Popular Vehicles & Services Limited had an asset base of 1118 Crore Rs in 2021 which increased to 1264 Crore Rs in 2022 and 1504 Crore Rs in 2023. The revenue of the firm was 2919 Crore Rs in 2021 which increased to 3484 Crore Rs in 2022 and 4892 Crore Rs in 2023. The revenue of the firm was 32 Crore Rs in 2021, 33 Crore Rs in 2022 and 64 Crore Rs in 2023.
PROS
- Its business is divided into 3 verticals namely Commercial vehicles, Passenger vehicles including luxury Cars and Electric Two wheeler and three wheeler vehicles.
- Popular Vehicles & Services Limited has a network of 59 showrooms, 31 pre-owned vehicles and showrooms, 126 sales and booking offices, 40 retail outlets, 134 authorised service centres and 24 warehouses. The location of this network is spread across 14 districts in Kerala, 12 Districts in Tamilnadu, 8 districts in Karnataka and 7 districts in Maharashtra.
- The company has serviced 791360 vehicles in the last year.
- It has an employee base of 10275 people.
Popular Vehicles & Services Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Popular Vehicles & Services Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
