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Popular Vehicles IPO is a book build issue of ₹601.55 crores. The issue is a combination of fresh issue of 0.85 crore shares aggregating to ₹250.04 crores and offer for sale of 1.19 crore shares aggregating to ₹351.52 crores.
Popular Vehicles IPO bidding started from Mar 12, 2024 and ended on Mar 14, 2024. The allotment for Popular Vehicles IPO was finalized on Mar 15, 2024. The shares got listed on BSE, NSE on Mar 19, 2024.
Popular Vehicles IPO price band is set at ₹295.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹14,000 (50 shares). The lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,06,500, and for bNII, it is 68 lots (3,400 shares), amounting to ₹10,03,000.
The issue includes a reservation of up to 37,453 shares for employees offered at a discount of ₹28.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Popular Vehicles IPO RHP for detailed Information.
| IPO Date | March 12, 2024 to March 14, 2024 |
| Listing Date | March 19, 2024 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹280 to ₹295 per share |
| Issue Price Final | ₹295 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,03,93,828 shares (aggregating up to ₹601.55 Cr) |
| Fresh Issue | 84,76,753 shares (aggregating up to ₹250.04 Cr) |
| Offer for Sale | 1,19,17,075 shares of ₹2 (aggregating up to ₹351.52 Cr) |
| Employee Discount | ₹28.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,27,21,445 shares |
| Share Holding Post Issue | 7,11,99,575 shares |
Popular Vehicles & Services IPO offers total 2,03,95,205 shares. Out of which 1,01,78,875 (49.91%) allocated to QIB, 40,71,550 (19.96%) allocated to QIB, 30,53,663 (14.97%) allocated to NII, 71,25,214 (34.94%) allocated to RII and 61,07,325 (29.94%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,01,78,875 (49.91%) | NA |
| − Anchor Investor Shares Offered | 61,07,325 (29.94%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 40,71,550 (19.96%) | NA |
| NII (HNI) Shares Offered | 30,53,663 (14.97%) | NA |
| − bNII > ₹10L | 20,35,775 (9.98%) | 2,908 |
| − sNII < ₹10L | 10,17,888 (4.99%) | 1,454 |
| Retail Shares Offered | 71,25,214 (34.94%) | 1,42,504 |
| Employee Shares Offered | 37,453 (0.18%) | NA |
| Total Shares Offered | 2,03,95,205 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Popular Vehicles IPO raises ₹180.17 crore from anchor investors. Popular Vehicles IPO Anchor bid date is March 11, 2024. Popular Vehicles IPO Anchor Investors list
| Bid Date | March 11, 2024 |
| Shares Offered | 61,07,325 |
| 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 IPO opens on March 12, 2024, and closes on March 14, 2024.
| IPO Open Date | Tue, Mar 12, 2024 |
| IPO Close Date | Thu, Mar 14, 2024 |
| Tentative Allotment | Fri, Mar 15, 2024 |
| Initiation of Refunds | Mon, Mar 18, 2024 |
| Credit of Shares to Demat | Mon, Mar 18, 2024 |
| Tentative Listing Date | Tue, Mar 19, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 14, 2024 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 IPO is ₹2100.28 Cr.
KPI as of Mon, Sep 30, 2024.
| KPI | Values |
|---|---|
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/Equity | 1.99 |
| RoNW | 10.42% |
| PAT Margin | 1.41% |
| Price to Book Value | 4.82 |
| 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...
| Listing Date | March 19, 2024 |
| BSE Script Code | 544144 |
| NSE Symbol | PVSL |
| ISIN | INE772T01024 |
| Final Issue Price | ₹295 per share |
| BSE Listing Group | B |
Popular Vehicles & Services Ltd.
Kuttukaran Centre
Mamangalam, Cochin
Ernakulam
Ernakulam, Kerala, 68202
Phone: +91 484 2341 134
Email: cs@popularv.com
Website: https://www.popularmaruti.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: popularvehicles.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Popular Vehicles IPO is a main-board IPO of 2,03,93,828 equity shares of the face value of ₹2 aggregating up to ₹601.55 Crores. The issue is priced at ₹295 per share. The minimum order quantity is 50.
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.
Zerodha customers can apply online in Popular Vehicles IPO using UPI as a payment gateway. Zerodha customers can apply in Popular Vehicles IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Popular Vehicles IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Popular Vehicles IPO opens on March 12, 2024 and closes on March 14, 2024.
Popular Vehicles IPO lot size is 50, and the minimum amount required for application is ₹14,750.
You can apply in Popular Vehicles IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Popular Vehicles 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 IPO allotment status.
The Popular Vehicles IPO listing date is on Tuesday, March 19, 2024.
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