Popular Automobiles and Services IPO: On March 12, 2024, Popular Vehicles & Services is scheduled to launch its first public offering (IPO). The public offering will remain open for participation by investors until Thursday, March 14, 2024.
A minimum of 15% is designated for Non-Institutional Investors (NII) and at least 35% is set aside for retail investors. Roughly 50% of the issuance is reserved for Qualified Institutional Buyers (QIB).
In India, Popular Vehicles and Services Limited is a dealership that provides a wide range of vehicle-related services, such as sales of new and used cars, maintenance, the distribution of spare parts, driving instruction, and the selling of third-party financial and insurance products.
In the fiscal year 2023, the company experienced a noteworthy increase in sales of 40.42 percent and a substantial rise in Profit After Tax (PAT) of 90.31 percent.
10 important factors to consider about Popular Vehicles & Services IPO
- Popular Automobiles and Services Date of IPO: The upcoming initial public offering (IPO) is set to begin bidding on March 12, 2024, and end on March 14, 2024.
- Popular Automobiles and Services IPO pricing range: ₹280 to ₹295 per share is the price range that the company has set for the initial public offering.
- Popular Automobiles and Services Size of IPO: To raise ₹601.55 crore from its initial offer, the offering consists of both new shares and an Offer for Sale (OFS). ₹250 crore of this total is designated for the new issue, and the remaining ₹351.55 crore is set aside for the OFS.
- Popular Automobiles and Services Lot size for initial public offering (IPO): Investors may submit applications for lots of 50 shares of the car retailer company.
- Popular Automobiles and Services IPO promoters: John K. Paul, Francis K. Paul, and Naveen Philip are among the company’s promoters.
- Date of Popular Vehicles & Services IPO allotment: Friday, March 15, 2024, is projected to be the last day of allotment for the automotive industry IPO.
- Date of Popular Vehicles & Services’ initial public offering (IPO): Tuesday, March 19, 2024, is the tentative date for Popular Vehicles & Services’ IPO, which will be listed on the BSE and NSE.
- Popular Automobiles and Services Registrar for initial public offering (IPO): Link Intime India Private Ltd is the registrar for the planned IPO.
- Popular Vehicles & Services IPO book-running managers: Popular book-running managers for IPOs in vehicles and services: ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited are the public issue’s book-running lead managers.
- Popular Vehicles & Services IPO GMP: The company’s shares are presently offered on the grey market at a premium of ₹27.