Popular Vehicles & Services IPO Details
Issue Date
12 Mar - 14 Mar'24
Price Range
₹280 - ₹295
Lot Size
50
IPO Size
₹601.62 Cr
Popular Vehicles & Services IPO Listing Details
Listing On
19 Mar'24
Issue Price
₹295
Listed Price
₹ 289.2
Retail Gain/Listing Gain
▼-1.97%
Schedule of Popular Vehicles & Services IPO
Start date
12/03/2024
End date
14/03/2024
Allotment of bids
Refund Initiation
18/03/2024
Listing on exchange
19/03/2024
Popular Vehicles and Services IPO Review
Kotak Neo
•3m 25s
Popular Vehicles & Services Company Background
Popular Vehicles and Services is a diversified automobile dealership in India in terms of revenue as of Fiscal 2023, having a fully integrated business model (Source: CRISIL Report).
The company caters to the complete life cycle of vehicle ownership, right from the sale of new vehicles, servicing and repairing vehicles, distributing spare parts and accessories, to facilitating the sale and exchange of pre-owned vehicles, operating driving schools and facilitating the sale of third-party financial and insurance products.
Popular Vehicles & Services Competitive Strengths
Proven ability to identify and capture inorganic as well as organic growth opportunities
As part of the company’s strategic plan to expand the business into other territories and states, the company acquired the entire operations of a sizeable spare parts distributor in Karnataka, in Fiscal 2019, which helped establish business channels and a steady foothold in Karnataka. The acquired business division contributed to a total turnover of Rs. 174.60 million and contributed to 12.02% of the company’s total turnover and 7.26% of the total EBITDA of the Company during the six months ended September 30, 2023.
Consistent track record of profitable financial performance and increasing growth
The company’s profit was Rs. 400.44 million, Rs. 640.74 million, Rs. 336.69 million and Rs. 324.55 million for the six months ended September 30, 2023 and Fiscals 2023, 2022, and 2021, respectively.
Long-standing presence in the automobile industry and well-established relationships with leading OEMs
The company set up the first Maruti Suzuki showroom in Trivandrum, Kerala in 1984 under the “Popular” brand. Since then, they have strategically expanded their dealership network across the value chain, from economy to premium to luxury vehicles, by partnering with Honda and JLR in 2008 and 2010, respectively, and subsequently collaborating with Ather and Piaggio in 2021. The entry into the commercial vehicle dealership space occurred in 1997 through a partnership with Tata Motors (Commercial). Operations within the automobile dealership space were further diversified by commencing the spare parts and accessories distribution business in 2005.
Risk Factors
-
The automotive industry is sensitive to changing economic conditions and various other factors.
-
The company is subject to the significant influence of its OEMs.
-
Non-renewal, termination or any adverse material modifications made by OEMs to the dealership agreements, will adversely affect business prospects and results of operations.
Key Strategies
- Continue to increase sales at existing dealerships.
- Expansion of the network and diversification of the product portfolio.
- Grow through strategic acquisitions.
Popular Vehicles & Services Key Financials
Here are the key financials for Popular Vehicles & Services Limited:
How to apply for IPO through ASBA
Kotak Neo
•04m 01s
How To Apply for Popular Vehicles & Services Ltd IPO?
Here are the steps to apply for Popular Vehicles & Services Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Popular Vehicles & Services IPO FAQs
The Popular Vehicles & Services IPO opens for subscription from 12-03-2024 to 14-03-2024, with a total issue size of ₹601.62 Cr. The IPO price band is ₹280 to ₹295 per share with a lot size of 50. The company aims to list the shares on BSE & NSE on 19-03-2024.
The Popular Vehicles & Services IPO will open for subscription on 12-03-2024 and will close on 14-03-2024 for investors.
The minimum lot size for the Popular Vehicles & Services IPO is 50 equity shares, requiring a minimum investment of ₹14750 for retail investors applying in the IPO.
The price band of the Popular Vehicles & Services IPO has been fixed at ₹280 to ₹295 per equity share.
You can apply for the Popular Vehicles & Services IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Popular Vehicles & Services IPO allotment will take place on [-].
You can check the Popular Vehicles & Services IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Popular Vehicles & Services shares will list on the stock exchanges on 19-03-2024.
You can find detailed information about the Popular Vehicles & Services IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
The Popular Vehicles and Services Limited IPO has an issue size of Rs. 601.55 crores. The IPO opens for subscription on 12th March 2024 and closes on 14th March 2024.
Link Intime India Private Limited is the registrar for this IPO.
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
Trending IPOs
25 May - 27 May'26 | |||||||||
26 May - 29 May'26 | |||||||||
26 May - 29 May'26 | |||||||||
05 Jun - 09 Jun'26 | |||||||||
01 Jun - 03 Jun'26 | |||||||||