Popular Vehicles & Services IPO is a book built issue of Rs 601.55 crores. The issue is a combination of fresh issue of 0.85 crore shares aggregating to Rs 250.00 crores and offer for sale of 1.19 crore shares aggregating to Rs 351.55 crores.
Popular Vehicles & Services IPO opens for subscription on March 12, 2024 and closes on March 14, 2024. The allotment for the Popular Vehicles & Services IPO is expected to be finalized on Friday, March 15, 2024. Popular Vehicles & Services IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, March 19, 2024.
Popular Vehicles & Services IPO price band is set at ₹280 to ₹295 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹14,750. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹206,500, and for bNII, it is 68 lots (3,400 shares), amounting to ₹1,003,000.
ICICI Securities Limited, Nuvama Wealth Management Limited and Centrum Capital Limited are the book running lead managers of the Popular Vehicles & Services IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Popular Vehicles & Services IPO RHP for detailed information.
Popular Vehicles & Services IPO Details
| IPO Date | March 12, 2024 to March 14, 2024 |
| Listing Date | [.] |
| 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 |
Popular Vehicles & Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Popular Vehicles & Services IPO Timeline (Tentative Schedule)
Popular Vehicles & Services IPO opens on March 12, 2024, and closes on March 14, 2024.
| 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 |
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 |
| Lot Size Calculator | |||
Popular Vehicles & Services IPO Promoter Holding
The promoters of the company are John K. Paul, Francis K. Paul and Naveen Philip
| Share Holding Pre Issue | 65.79% |
| Share Holding Post Issue |
About Popular Vehicles & Services Limited
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
- passenger vehicles including luxury vehicles,
- commercial vehicles and
- electric two-wheeler and three-wheeler vehicles
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 centers, 40 retail outlets, and 24 warehouses across 14 districts of Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, and 7 districts in Maharashtra. In addition to its showrooms, the sales outlets and booking offices also 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 centers 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 a total of 10,275 employees.
Popular Vehicles & Services Limited Financial Information (Restated Consolidated)
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 |
| Revenue | 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 | ||||
Key Performance Indicator
The market capitalization of Popular Vehicles & Services IPO is Rs 2100.28 Cr.
KPI as of September 30, 2024.
| KPI | Values |
|---|---|
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/Equity | 1.99 |
| RoNW | 10.42% |
| P/BV | 4.82 |
| PAT Margin (%) | 1.41 |
Check Popular Vehicles & Services IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.22 | 11.25 |
| P/E (x) | 28.88 | 26.22 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Popular Vehicles & Services IPO Objectives)
The company proposes to utilise the Net Proceeds towards funding the following objects:
Popular Vehicles & Services Limited Contact Details
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/
Popular Vehicles & Services IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: popularvehicles.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html