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Popular Vehicles & Services IPO is a book built issue of Rs 601.55 crores. The issue is a combination of fresh issue of 0.85 crore shares aggregating to Rs 250.00 crores and offer for sale of 1.19 crore shares aggregating to Rs 351.55 crores.
Popular Vehicles & Services IPO bidding started from March 12, 2024 and ended on March 14, 2024. The allotment for Popular Vehicles & Services IPO was finalized on Friday, March 15, 2024. The shares got listed on BSE, NSE on March 19, 2024.
Popular Vehicles & Services IPO price band is set at ₹280 to ₹295 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹14,750. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹206,500, and for bNII, it is 68 lots (3,400 shares), amounting to ₹1,003,000.
The issue includes a reservation of up to 37,453 shares for employees offered at a discount of Rs 28 to the issue price.
ICICI Securities Limited, Nuvama Wealth Management Limited and Centrum Capital Limited are the book running lead managers of the Popular Vehicles & Services IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Popular Vehicles & Services IPO RHP for detailed information.
| IPO Date | March 12, 2024 to March 14, 2024 |
| Listing Date | March 19, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹280 to ₹295 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 20,395,205 shares (aggregating up to ₹601.55 Cr) |
| Fresh Issue | 8,478,130 shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | 11,917,075 shares of ₹2 (aggregating up to ₹351.55 Cr) |
| Employee Discount | Rs 28 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 62,721,445 |
| Share holding post issue | 71,199,575 |
Popular Vehicles & Services IPO offers 20,395,205 shares. 4,071,551 (19.96%) to QIB, 3,053,663 (14.97%) to NII, 7,125,213 (34.94%) to RII, 37,453 (0.18%) to employees and 6,107,325 (29.94%) to Anchor investors. 142,504 RIIs will receive minimum 50 shares and 1,454 (sNII) and 2,908 (bNII) will receive minimum 700 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 6,107,325 (29.94%) | NA |
| QIB Shares Offered | 4,071,551 (19.96%) | NA |
| NII (HNI) Shares Offered | 3,053,663 (14.97%) | |
| bNII > ₹10L | 2,035,775 (9.98%) | 2,908 |
| sNII < ₹10L | 1,017,888 (4.99%) | 1,454 |
| Retail Shares Offered | 7,125,213 (34.94%) | 142,504 |
| Employee Shares Offered | 37,453 (0.18%) | NA |
| Total Shares Offered | 20,395,205 (100%) |
Popular Vehicles & Services IPO raises Rs 180.17 crore from anchor investors. Popular Vehicles & Services IPO Anchor bid date is March 11, 2024. Popular Vehicles & Services IPO Anchor Investors list
| Bid Date | March 11, 2024 |
| Shares Offered | 6,107,325 |
| Anchor Portion Size (In Cr.) | 180.17 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 14, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 13, 2024 |
Popular Vehicles & Services IPO opens on March 12, 2024, and closes on March 14, 2024.
| IPO Open Date | Tuesday, March 12, 2024 |
| IPO Close Date | Thursday, March 14, 2024 |
| Basis of Allotment | Friday, March 15, 2024 |
| Initiation of Refunds | Monday, March 18, 2024 |
| Credit of Shares to Demat | Monday, March 18, 2024 |
| Listing Date | Tuesday, March 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 14, 2024 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,750 |
| Retail (Max) | 13 | 650 | ₹191,750 |
| S-HNI (Min) | 14 | 700 | ₹206,500 |
| S-HNI (Max) | 67 | 3,350 | ₹988,250 |
| B-HNI (Min) | 68 | 3,400 | ₹1,003,000 |
| Lot Size Calculator | |||
The promoters of the company are John K. Paul, Francis K. Paul and Naveen Philip
| Share Holding Pre Issue | 69.45% |
| Share Holding Post Issue | 61.17% |
Incorporated in 1983, Popular Vehicles and Services Limited is engaged in the business of automobile dealerships in India.
Popular Vehicles provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.
The company's business can be divided into three segments
The company currently operates through a vast network consisting of 59 showrooms, 126 sales outlets and booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorized service centres, 40 retail outlets, and 24 warehouses across 14 districts of Kerala, eight districts in Karnataka, 12 districts in Tamil Nadu, and seven districts in Maharashtra. In addition to its showrooms, the sales outlets and booking offices facilitate its sales, whereas the retail outlets are responsible for selling and distributing spare parts and accessories.
In FY 2023, the company serviced 791,360 vehicles - 5,212 luxury, 163,013 commercial, 1,918 electric two-wheeler, and 857 electric three-wheeler vehicles - through 130 authorized service centres across dealerships.
The company's PAT increased from ₹324.55 million in Fiscal 2021 to ₹640.74 million in Fiscal 2023.
The company's total income for Fiscals 2021, 2022, and 2023 was ₹29,192.52 million, ₹34,841.99 million, and ₹48,926.28 million, respectively.
As of July 31, 2023, the company had 10,275 employees.
Popular Vehicles & Services Limited's revenue increased by 40.42% and profit after tax (PAT) rose by 90.31% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,941.78 | 1,503.78 | 1,263.29 | 1,118.94 |
| Revenue | 2,848.21 | 4,892.63 | 3,484.20 | 2,919.25 |
| Profit After Tax | 40.04 | 64.07 | 33.67 | 32.46 |
| Net Worth | 384.21 | 343.04 | 279.89 | 246.00 |
| Reserves and Surplus | 371.67 | 330.50 | 267.34 | 233.46 |
| Total Borrowing | 764.61 | 505.01 | 371.91 | 353.04 |
| Amount in ₹ Crore | ||||
The market capitalization of Popular Vehicles & Services IPO is Rs 2100.28 Cr.
KPI as of September 30, 2024.
| KPI | Values |
|---|---|
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/Equity | 1.99 |
| RoNW | 10.42% |
| P/BV | 4.82 |
| PAT Margin (%) | 1.41 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.22 | 11.25 |
| P/E (x) | 28.88 | 26.22 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
[Dilip Davda] Though the company has presence in four states, it has over 400 touch points and that makes it the leader in the segment with a partnership with a front running Indian player Maruti. The company will continue to shift its product mix to improve its bottom lines. Based on FY24 annualized earnings, though the issue appears fully priced, it is worth considering for the medium to long term rewards. Read detail review...
The Popular Vehicles & Services IPO is subscribed 1.25 times on March 14, 2024 6:21:00 PM. The public issue subscribed 1.07 times in the retail category, 1.92 times in the QIB category, and 0.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.92 |
| NII | 0.67 |
| bNII (bids above ₹10L) | 0.67 |
| sNII (bids below ₹10L) | 0.68 |
| Retail | 1.07 |
| Employee | 8.04 |
| Total | 1.25 |
Total Application : 135,743 (0.95 times)
| Listing Date | March 19, 2024 |
| BSE Script Code | 544144 |
| NSE Symbol | PVSL |
| ISIN | INE772T01024 |
| Final Issue Price | ₹295 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹295.00 |
| ₹292.00 |
| ₹262.90 |
| ₹292.00 |
| ₹276.25 |
| NSE |
|---|
| ₹295.00 |
| ₹289.20 |
| ₹262.40 |
| ₹289.20 |
| ₹276.15 |
Popular Vehicles & Services Limited
Kuttukaran Centre
Mamangalam, Cochin
Ernakulam 682 025
Phone: +91 484 2341 134
Email: cs@popularv.com
Website: https://www.popularmaruti.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: popularvehicles.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Popular Vehicles & Services IPO is a main-board IPO of 20,395,205 equity shares of the face value of ₹2 aggregating up to ₹601.55 Crores. The issue is priced at ₹280 to ₹295 per share. The minimum order quantity is 50 Shares.
The IPO opens on March 12, 2024, and closes on March 14, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Popular Vehicles & Services IPO using UPI as a payment gateway. Zerodha customers can apply in Popular Vehicles & Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Popular Vehicles & Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Popular Vehicles & Services IPO opens on March 12, 2024 and closes on March 14, 2024.
Popular Vehicles & Services IPO lot size is 50 Shares, and the minimum amount required is ₹14,750.
You can apply in Popular Vehicles & Services 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. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Popular Vehicles & Services IPO will be done on Friday, March 15, 2024, and the allotted shares will be credited to your demat account by Monday, March 18, 2024. Check the Popular Vehicles & Services IPO allotment status.
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