Popular Vehicles IPO Details: Scheduled for March 12th to March 14th, Popular Vehicles & Services is poised to launch its Initial Public Offering (IPO) aiming to raise approximately ₹601.55 crores. This offering comprises a fresh issue of ₹250 crores along with an offer for sale of up to 11,917,075 equity shares priced at ₹2 each. The IPO allocation is structured with 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net Worth Individuals (HNI).
Popular Vehicles & Services stands as a prominent diversified automobile dealership in India, holding the distinction of being the leader in terms of revenue for the fiscal year 2023, according to a CRISIL report. Their business model is fully integrated, covering the entire vehicle ownership lifecycle. This encompasses new vehicle sales, vehicle servicing and repairs, distribution of spare parts and accessories, facilitation of pre-owned vehicle sales and exchanges, operation of driving schools, and offering third-party financial and insurance products.
The company segments its automobile dealership business into three main categories: passenger vehicles (including luxury vehicles), commercial vehicles, and electric two-wheeler and three-wheeler vehicles. In the fiscal year 2023, revenue from operations amounted to ₹30,143.51 million, ₹15,702.54 million, and ₹559.05 million for these respective segments.
Popular Vehicles operates passenger vehicle dealerships for Maruti Suzuki (Arena and Nexa), Honda, and Jaguar Land Rover India; commercial vehicle dealerships for Tata Motors and Daimler India Commercial Vehicles; and electric vehicle dealerships for Piaggio and Ather Energy.
Their strategic acquisitions, including service centers, showrooms, and sales outlets, have bolstered their market presence. Notable acquisitions include 11 service centers and 2 showrooms from a Maruti Suzuki dealer in Kerala, as well as 8 showrooms, 17 service centers, and 3 sales outlets and booking offices of BharatBenz in Tamil Nadu and Maharashtra.
Furthermore, they have witnessed a substantial increase in revenue from servicing passenger and commercial vehicles over the past three fiscal years. In fiscal year 2023, they achieved recognition as ‘All India Highest in the Bodyshop Load’ for Maruti Suzuki. Additionally, their sales of electric two-wheeler and three-wheeler vehicles have shown a remarkable growth trajectory, escalating from 252 in fiscal year 2022 to 3,381 in fiscal year 2023.
Popular Vehicles & Services IPO Objectives:
The company proposes to utilise the Net Proceeds towards funding the following objects:
- Repayment and/or pre-payment, in full or part, of certain borrowings, availed by the company and certain of the subsidiaries, namely, VMPL, PAWL, PMMIL, KGPL, KCPL and PMPL and;
- General corporate purposes.
Popular Vehicles & Services IPO Review (Apply or Not)
- Apply with Longterm View
Popular Vehicles & Services IPO Date & Price Band Details
| IPO Open: | 12-March-2024 |
| IPO Close: | 14-March-2024 |
| IPO Size: | ₹601.55 Crores (Approx) |
| Fresh Issue: | ₹250 Crores (Approx) |
| Offer for Sale: | 11,917,075 Equity Shares (Approx) |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹280 to ₹295 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Popular Vehicles & Services IPO Lot Size
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 |
Popular Vehicles & Services IPO Timeline:
The IPO for Popular Vehicles & Services is slated to open on March 12 and will run until March 14. The allocation of shares for the IPO will be completed by March 15, with the listing scheduled for March 19.
| Anchor Investors Allotment: | 11-March-2024 |
| IPO Open Date: | 12-March-2024 |
| IPO Close Date: | 14-March-2024 |
| Basis of Allotment: | 15-March-2024 |
| Refunds: | 18-March-2024 |
| Credit to Demat Account: | 18-March-2024 |
| IPO Listing Date: | 19-March-2024 |
Popular Vehicles & Services IPO GMP Today:
The company’s shares are trading at a premium of ₹27 in the grey market.
Popular Vehicles & Services Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹2919.25 | ₹2872.00 | ₹32.46 |
| 2022 | ₹3484.20 | ₹3435.65 | ₹33.67 |
| 2023 | ₹4892.62 | ₹4807.76 | ₹64.07 |
| Sep 2023 | ₹2848.21 | ₹2795.94 | ₹40.04 |
Popular Vehicles & Services IPO Valuation – FY2023
Check Popular Vehicles & Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹10.22 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 18.68% |
| Net Asset Value (NAV): | ₹54.69 per Equity Share |
Peer Group
- Landmark Cars Limited
Company Promoters
- John K. Paul
- Francis K. Paul
- Naveen Philip
Popular Vehicles & Services IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: Signatureglobal.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Popular Vehicles & Services IPO Allotment Status Check
Check Popular Vehicles & Services IPO allotment status on Linkintime website allotment URL. Click Here
Popular Vehicles & Services IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Nuvama Wealth Management Limited
- Centrum Capital Limited
Popular Vehicles & Services Limited Company Address
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/
