Popular Vehicles & Services IPO: Check Out Price Band, Issue Size & More

The subscription for Popular Vehicles & Services Limited‘s initial public offering (IPO) began on March 12, 2024, and is set to conclude on March 14, 2024. The auto dealership firm has established a price range of Rs 280 to Rs 295 per equity share for the Popular Vehicles IPO. The book build issue is targeting to generate Rs 601.55 crore through its IPO.

About the company

Part of the diverse Kuttukaran Group, Popular Vehicles & Services Limited manages multi-brand automobile dealerships across Kerala, Tamil Nadu, and Karnataka. As of March 31, 2023, it ranks among the top six dealerships in India based on sales volume.

Price Band

The auto dealership firm has established a price range of Rs 280 to Rs 295 per equity share.

Also read: Pratham Projects IPO: Top Things to Know as Issue Opens for Subscription

Issue Size

The public offering comprises a blend of newly issued shares and an Offer for Sale (OFS). Popular Vehicles & Services Limited intends to generate Rs 601.55 crore through its initial offering, with Rs 250 crore earmarked for the issuance of fresh shares. The remaining Rs 351.55 crore is allocated for the OFS.

Company Financials

Objectives of the Issue

The company will utilise Rs 192 crore out of the net fresh issue proceeds towards repayment of debts. The remaining will be used for general corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.