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Popular Vehicles & Services Ltd

Retail

Offer Period :

12th to 14th Mar 2024

Popular Vehicles & Services Ltd IPO Details

IPO Date 12th to 14th Mar 2024 Minimum Investment ₹14750 / 1 Lots
Listing Date 2024-03-19 Maximum Investment ₹191750 / 13 Lots
Face Value ₹2 per share Total Issue Size ₹601.55 Crores
Price ₹295 to ₹295 per share Fresh Issue ₹250 Crores
Lot Size 1 Lots (50 Shares) Offer For Sale ₹ [-]
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹28 per Share Shareholding Pre Issue 62721445 Shares
Issue Type Book Building Shareholding Post Issue 71199575 Shares
IPO Date 12th to 14th Mar 2024
Listing Date 2024-03-19
Face Value ₹2 per share
Price ₹295 to ₹295 per share
Lot Size 1 Lots (50 Shares)
Listing At BSE, NSE
Total Issue Size ₹601.55 Crores
Employee Discount ₹28 per share
Issue Type Book Building
Minimum Investment ₹14750 / 1 Lots
Maximum Investment ₹191750 / 13 Lots
Fresh Issue ₹250 Crores
Offer For Sale ₹[-] Crores
Retail Discount ₹0 Crores
Shareholding Pre Issue 62721445 Shares
Shareholding Post Issue 71199575 Shares

About Popular Vehicles & Services Ltd IPO

Founding Head: 1983

Managing Director: Naveen Philip

POPULAR VEHICLES AND SERVICES LIMITED Timeline

Important dates for allocation and IPO listing.

12th Mar

IPO Opens

14th Mar

IPO Close

15th Mar

Allotment Date

18th Mar

Initiation of Refund

18th Mar

Credit of Shares to Demat Account

-

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 69.45 0
Public Group 30.55 0

Popular Vehicles & Services Ltd IPO Reservation

QIB Shares Offered 4071551(19.97%)
NII (HNI) Shares Offered 3053663(14.98%)
Retail Shares Offered 7125213(34.94%)
Anchor Investor Shares Offered 6107326(29.95%)
Total Shares Offered 20391652
Total Shares With Anchor Investor 20391652

Popular Vehicles & Services Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 50 ₹14750
Retail (Max) 13 650 ₹191750
S HNI (Min) 14 700 ₹206500
S HNI (Max) 67 3350 ₹988250
B HNI (MIN) 68 3400 ₹1003000

Popular Vehicles & Services Ltd IPO Anchor Investor Details

Bid Date
Shares Offered
Anchor Portion Size

Popular Vehicles & Services Ltd IPO Registrar

MUFG Intime India Pvt Ltd
Phone Number +91 810 811 4949
Email Id popularvehicles.ipo@linkintime.co.in
Our Website www.linkintime.co.in

Popular Vehicles & Services Ltd IPO Lead Manager

1. ICICI Securities Ltd

2. Nuvama Wealth Management Ltd

3. Centrum Capital Ltd

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Popular Vehicles & Services Ltd Financial Information

Period Ended March 31, 2024 March 31, 2023 March 31, 2022
Net Worth ₹492.43 ₹232.63 ₹204.08
Reserves and Surplus ₹478.19 ₹220.09 ₹191.53
Total Borrowing ₹171.03 ₹242.29 ₹215.27

Popular Vehicles & Services Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 3970461 7810150 1.97
Non Institutional Investors (NIIs) 3121490 2055350 0.66
NII(Bid amount of more than Ten Lakh Rupees) 0 0 0
NII(Bid amount of more than 2 Lakh < 10 Rupees) 0 0 0
Retail Individual Investors (RIIs) 7283477 7634850 1.05
Total 14415110 17801500 1.23

Strength of Popular Vehicles & Services Ltd

1. Long standing presence in the automobile industry and well-established relationships with leading OEMs.

2. Penetration in markets in which the company operates complemented by innovative marketing strategies.

3. Fully integrated business model leading to business stability and higher margin.

4. Proven ability to identify and capture inorganic as well as organic growth opportunities.

5. Consistent track record of profitable financial performance and increasing growth.

6. Experienced promoters and management team.

Risks Involved

1. The automotive industry is sensitive to changing economic conditions and various other factors. Any decline in demand for vehicles by individuals or entities may adversely impact its business prospects and results of operations.

2. The company is subject to the significant influence of its OEMs. The company's top two OEMs i.e., Maruti Suzuki and Tata Motors (commercial), account for more than 80% of the Company's consolidated revenue in the six months period ended September 30, 2023 and each of Fiscal 2023, 2022 and 2021. Such significant influence of its OEMs and restrictions imposed by them pursuant to the terms of its dealership agreements may adversely impact the company's business, results of operations, financial condition and prospects, including our ability to expand into new territories and acquire additional dealerships.

3. Non-renewal, termination or any adverse material modifications made by its OEMs to the dealership agreements, will have a material and adverse impact on its business prospects and results of operations.

4. The Company has not received the required approval from the Central Government for appointment of John K. Paul as a Whole-time Director of the Company. The company cannot assure you that such approval will be received in a timely manner.

5. The company has had negative cash flows in the past including negative cash flows from operating activities in the six months period ended September 30, 2023, and it is possible that the company may experience negative cash flows in the future which could adversely affect its cash flow requirements, its ability to operate the company's business and implement its growth plans, thereby affecting its financial performance.

6. A large portion of its business operations, which is approximately 96.91% the Company's consolidated revenue for the six months period ended September 30, 2023, are concentrated in the states of Kerala, Tamil Nadu and Karnataka. Any adverse developments (including any natural calamities) in these states could have an adverse effect on its business, results of operations and financial condition.

7. A large portion of its business revenue, approximately 77.03%, is derived from the company dealership of Maruti, Tata Motors (Commercial) and Honda. Any adverse developments in the growth, demand or sales for these OEMs could have an adverse effect on its business, results of operations and financial condition.

8. Increasing competition among automotive dealerships through online and offline marketing reduces its profit margins on vehicle sales and related businesses.

9. Its success depends on the value, perception, marketing and overall competitiveness of its brand and the company's OEMs in India. Any damage to its or the company's OEMs' brands or its failure to compete effectively in India could materially and adversely affect its business, results of operations and financial condition.

10. The determination of the Price Band is based on various factors and assumptions and the Offer Price of the Equity Shares may not be indicative of the market price of the Equity Shares upon listing on the Stock Exchanges. Investors bear the risk of fluctuations in the price of Equity Shares and there can be no assurance that a liquid market for its Equity Shares will develop following the listing of the company's Equity Shares on the Stock Exchanges.

Why should you invest in

-

Popular Vehicles & Services Ltd Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023 2022
Total Assets 1956.64 1503.78 1263.29
Total Liabilities 1956.64 1503.78 1263.29
Total Expenses 5550.57 4807.76 3435.65
Total Revenue 
5646.68 4892.63 3484.2
Profit After Tax 76.08 64.07 33.67
EBITDA 287.67 234.85 178.66
Adjusted EBITDA 0 0 0

POPULAR VEHICLES AND SERVICES LIMITED IPO Contact Details

POPULAR VEHICLES AND SERVICES LIMITED
Phone Number 91-484-2341 134
Email Id cs@popularv.com
Address Kuttukaran Centre, Mamangalam Cochin, Ernakulam, Kerala, 682025
Our Website www.popularmaruti.com

Popular Vehicles & Services Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-03-19 544144 PVSL
INE772T01024
₹295 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹295 ₹295
Open ₹292 ₹289.2
Low ₹262.9 ₹262.4
High ₹292 ₹289.2
Low ₹262.9 ₹262.4

Frequently Asked Questions

What is Popular Vehicles & Services Ltd IPO?

Answer Field

Popular Vehicles & Services Ltd IPO is a Mainboard IPO of 2,03,91,652 equity shares of a face value of ₹2 aggregating up to ₹601.55 Crores. The issue is priced at ₹295 to ₹295 per share. The minimum order quantity is 50 Shares. The IPO opens on March 12, 2024, and closes on March 14, 2024. MUFG Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Popular Vehicles & Services Ltd IPO will open?

Answer Field

The Popular Vehicles & Services Ltd IPO opens on March 12, 2024 and closes on March 14, 2024.

What is the lot size of Popular Vehicles & Services Ltd?

Answer Field

Popular Vehicles & Services Ltd lot size is 50 shares, and the minimum amount required is ₹14,750.

How to apply for Popular Vehicles & Services Ltd IPO?

Answer Field

You can apply in Popular Vehicles & Services Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Popular Vehicles & Services Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Popular Vehicles & Services Ltd IPO will be done on March 15, 2024, and the allotted shares will be credited to your demat account by March 18, 2024.

When is Popular Vehicles & Services Ltd IPO listing date?

Answer Field

The Popular Vehicles & Services Ltd listing date is March 19, 2024.

Who is the registrar of Popular Vehicles & Services Ltd IPO?

Answer Field

The registrar of Popular Vehicles & Services Ltd IPO is MUFG Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

ICICI Securities Ltd,Nuvama Wealth Management Ltd,Centrum Capital Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Popular Vehicles & Services Ltd IPO?

Answer Field

The fresh issue size is ₹250 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Popular Vehicles & Services Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 50 shares and ₹14,750 amount.

How can I approve the UPI mandate request for Popular Vehicles & Services Ltd IPO?

Answer Field

To apply for Popular Vehicles & Services Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Popular Vehicles & Services Ltd?

Answer Field

The price of each Popular Vehicles & Services Ltd share will be ranging in between ₹295 to ₹295 per share.

What is the cut-off time for the UPI mandate for Popular Vehicles & Services Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, March 14, 2024.

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