Popular Vehicles & Services IPO Price: ₹280 to ₹295
IPO Date Range: Mar 12, 2024 - Mar 14, 2024
Established in 1983, Popular Vehicles and Services Limited operates within the realm of automobile dealerships in India.
Popular Vehicles & Services Limited offers comprehensive services across the entire vehicle ownership lifecycle. This encompasses the sale of new and pre-owned vehicles, maintenance services, distribution of spare parts, driving schools, and the facilitation of third-party financial and insurance products.
The company's operations can be categorized into three segments:
Popular Vehicles operates through an extensive network, featuring 59 showrooms, 126 sales outlets, and booking offices, along with 31 pre-owned vehicle showrooms and outlets. Additionally, there are 134 authorized service centers, 40 retail outlets, and 24 warehouses strategically located across 14 districts in Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, and 7 districts in Maharashtra. Beyond their role in showcasing products, sales outlets and booking offices actively contribute to the sales process, while retail outlets play a crucial role in the sales and distribution of spare parts and accessories.
In the fiscal year 2023, the company efficiently serviced a total of 791,360 vehicles, comprising 5,212 luxury vehicles, 163,013 commercial vehicles, 1,918 electric two-wheelers, and 857 electric three-wheelers. This extensive service was carried out through 130 authorized service centers spread across various dealerships.
| IPO Date | March 12, 2024 to March 14, 2024 |
| Listing Date | Tuesday, March 19, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹280 to ₹295 per share |
| Lot Size | 50 shares |
| Total Issue Size | 20,391,651 shares (aggregating up to ₹601.55 Cr) |
| Fresh Issue | 8,474,576 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 | 71,196,021 |
Bidders have the opportunity to bid for a minimum of 50 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,750 |
| Retail (Max) | 13 | 650 | ₹1,91,750 |
| S-HNI (Min) | 14 | 700 | ₹2,06,500 |
| S-HNI (Max) | 67 | 3,350 | ₹9,88,250 |
| B-HNI (Min) | 68 | 3,400 | ₹10,03,000 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| 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 |
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During the fiscal year ending March 31, 2023, Popular Vehicles & Services Limited witnessed a notable 40.42% surge in revenue, coupled with a remarkable 90.31% increase in Profit After Tax (PAT) compared to the preceding financial year ending March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 1118.94 | 1263.29 | 1503.78 | 1941.78 |
| Revenue | 2919.25 | 3484.20 | 4892.63 | 2848.21 |
| Profit After Tax | 32.46 | 33.67 | 33.67 | 40.04 |
| Net Worth | 246 | 279.89 | 279.89 | 384.21 |
| Reserves & Surplus | 233.46 | 267.34 | 267.34 | 371.67 |
| Total Borrowing | 353.04 | 371.91 | 371.91 | 764.61 |
| KPI | Values |
|---|---|
| Market Cap (Rs Cr) | 2100.28 |
| P/E (x) | 28.88 |
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/ Equity | 1.99 |
| EPS | 10.22 |
| RoNW | 10.42% |
The company intends to use the Net Proceeds for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Popular Vehicles & Services DRHP and Popular Vehicles & Services RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Popular Vehicles & Services Limited" IPO is ₹280 to ₹295 per share.
The "Popular Vehicles & Services Limited" IPO is expected to be listed on Tuesday, 19 March 2024.
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