Popular Vehicles and Services IPO: A Comprehensive Guide

Introduction

The Popular Vehicles and Services initial public offering (IPO) has garnered significant attention in the Indian market. As the IPO opens for subscription today, let’s delve into the details, including the Grey Market Premium (GMP), subscription status, key dates, and how to apply.

Key Details at a Glance

IPO Opening Date: March 12, 2024
IPO Closing Date: March 14, 2024
Allocation Breakdown:
- Qualified Institutional Buyers (QIBs): Approximately 50% of the IPO
- Retail Investors: At least 35%
- Non-Institutional Investors (NIIs): Minimum 15%

Company Overview

Popular Vehicles and Services operates in the automotive dealership sector in India. Their services encompass a wide range, including:

Sales of new and pre-owned vehicles
Vehicle servicing
Sales of third-party insurance products

Financial Performance

In the fiscal year 2023, the company witnessed robust growth, with revenue surging by 40.42%. This positive trajectory bodes well for investors considering participation in the IPO.

IPO Price Band

The public offering price range is set at ₹280 to ₹295 per share. Investors can evaluate their investment decisions within this range.

IPO Size and Composition

The IPO comprises both fresh shares and an Offer for Sale (OFS). The company aims to raise ₹601.55 crore from its initial offer. Here’s the breakdown:

Fresh Issue Allocation: ₹250 crore
OFS Allocation: ₹351.55 crore

Lot Size and Application Process

Investors can apply in lots of 50 shares. If you’re interested, ensure you follow the application process diligently.

Promoters

The company’s promoters include:

John K. Paul
Francis K. Paul
Naveen Philip

Important Dates

Allotment Date: March 15, 2024
Listing Date: Likely on March 19, 2024, on both the BSE and NSE.

Registrar and Book-Running Managers

Registrar: Link Intime India Private Ltd
Book-Running Lead Managers: ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited.

Conclusion

As the Popular Vehicles and Services IPO opens its doors, investors should carefully analyze the company’s prospects, financials, and market conditions before making informed investment decisions. Stay updated, and good luck with your investment journey.

Certainly Here are some frequently asked questions (FAQs) related to the Popular Vehicles and Services IPO:

What is the opening date for the Popular Vehicles and Services IPO?
- The IPO opens for subscription on March 12, 2024.
When does the Popular Vehicles and Services IPO close?
- The closing date for the IPO is March 14, 2024.
What is the allocation breakdown for the IPO?
- The allocation is as follows:
  - Qualified Institutional Buyers (QIBs): Approximately 50% of the IPO
  - Retail Investors: At least 35%
  - Non-Institutional Investors (NIIs): Minimum 15%
What services does Popular Vehicles and Services provide?
- Popular Vehicles and Services operates in the automotive dealership sector in India. Their services include:
  - Sales of new and pre-owned vehicles
  - Vehicle servicing
  - Sales of third-party insurance products
What is the IPO price band?
- The public offering price range is set at ₹280 to ₹295 per share.
What is the IPO size and composition?
- The IPO comprises both fresh shares and an Offer for Sale (OFS). The company aims to raise ₹601.55 crore from its initial offer.
  - Fresh Issue Allocation: ₹250 crore
  - OFS Allocation: ₹351.55 crore
What is the lot size for investors, and how can they apply?
- Investors can apply in lots of 50 shares. To participate, follow the application process diligently.
Who are the promoters of Popular Vehicles and Services?
- The company’s promoters include:
  - John K. Paul
  - Francis K. Paul
  - Naveen Philip
What are the important dates related to the IPO?
- Allotment Date: March 15, 2024
- Listing Date: Likely on March 19, 2024, on both the BSE and NSE.
Who are the Registrar and Book-Running Managers for this IPO?
- Registrar: Link Intime India Private Ltd
- Book-Running Lead Managers: ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited.