Popular Vehicles & Services IPO will open for subscription from 12 March 2024. The company aims for an issue size of ₹601.55 Cr through this IPO.
Company Overview
| Full name | Popular Vehicles & Services Limited |
| Sector | Automobile & Ancillaries |
| Industry | Automobiles – Dealers & Distributors |
| Company Website | https://www.popularmaruti.com/ |
About Company
Popular Vehicles and Services manages the full vehicle ownership cycle, including new vehicle sales, servicing and repairing vehicles, spare parts distribution, pre-owned vehicle transactions, driving schools, and facilitating third-party financial and insurance product sales. The company operates in three distinct segments: (a) passenger vehicle dealerships, covering economy, premium, and luxury vehicles from Maruti Suzuki India Limited, Honda Cars India Limited, and Jaguar Land Rover India Limited; (b) commercial vehicle dealerships representing Tata Motors Limited and Daimler India Commercial Vehicles Private Limited; and (c) electric three-wheeler and two-wheeler vehicle dealerships for Piaggio Vehicles Private Limited and Ather Energy Private Limited, respectively.
As of 31 July 2023, Popular Vehicles and Services operated through 59 showrooms, 126 sales outlets and booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorized service centers, 40 retail outlets, and 24 warehouses. This network spans across 14 districts in Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, and 7 districts in Maharashtra. As of 31 July 2023, Popular Vehicles and Services employed a total of 10,275 individuals across its various business verticals.
The Objectives of the Issue
- 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 Timetable
| IPO Opening date | 12 March 2024 |
| IPO Closing | 14 March 2024 |
| Basis of Allotment | 15 March 2024 |
| Initiation Refund | 18 March 2024 |
| Credit to Demat Account | 18 March 2024 |
| Listing Date | 19 March 2024 |
Popular Vehicles & Services IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹601.55 Cr – 20,391,651 shares |
| Fresh Issue | ₹250 Cr – 8,474,576 shares |
| Offer for sale | ₹351.55 Cr – 11,917,075 shares |
| Face value | ₹02 per share |
| Price Band | ₹280 to ₹295 per share |
| Lot size | 50 Shares |
| Employee Discount | ₹28 per share |
| Shareholding pre-issue | 62,721,445 |
| Shareholding post-issue | 71,196,021 |
| Listing Exchange | BSE & NSE |
Popular Vehicles & Services IPO Lot Size
| 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 Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Popular Vehicles & Services Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 2,893.53 | 3,465.88 | 4,875.00 | 2,835.00 |
| Expenses | 2,872.00 | 3,435.65 | 4,807.76 | 2,795.94 |
| Net income | 32.46 | 33.67 | 64.07 | 40.04 |
| Margin (%) | 1.21 | 0.97 | 1.31 | 1.41 |
Popular Vehicles & Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.17 | 5.37 | 10.22 |
| PE ratio | – | – | 27.40 – 28.86 |
| RONW (%) | 13.19 | 12.03 | 18.68 |
| NAV | 39.22 | 44.62 | 54.69 |
| ROCE (%) | 17.09 | 16.79 | 18.32 |
| EBITDA (%) | 5.99 | 5.13 | 4.80 |
| Debt/Equity | 1.44 | 1.33 | 1.47 |
Company Promoters
- John K. Paul
- Francis K. Paul
- Naveen Philip
Promoter Holding
| Pre Issue Share Holding | 65.79% |
| Post Issue Share Holding |
Popular Vehicles & Services IPO Lead Manager(s)
- ICICI Securities Limited
- Nuvama Wealth Management Limited
- Centrum Capital Limited
Popular Vehicles & Services Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: popularvehicles.ipo@linkintime.co.in
Website: www.linkintime.co.in
Popular Vehicles & Services Contact Details
POPULAR VEHICLES AND SERVICES LIMITED
Kuttukaran Centre, Mamangalam,
Cochin, Ernakulam 682 025, Kerala, India
Phone: +91 484 2341 134
Email: cs@popularv.com
Website: www.popularmaruti.com
Popular Vehicles & Services IPO Allotment Status
Popular Vehicles IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Popular Vehicles & Services IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
