IPO of popular vehicles: The initial public offering (IPO) of Popular Vehicles & Services Limited will take place on the Indian primary market on March 12, 2024, Tuesday next week. The public edition will remain available to subscribers until March 14, 2024, which is Thursday next week. The car dealer company has set the price range for the Popular Vehicles IPO ₹280 tons ₹295 per share. The book construction problem should be addressed ₹601.55 crore. The initial offering is intended for listing on BSE and NSE. Ahead of the upcoming IPO subscription opening date, shares of the company have become available on the gray market. According to stock market observers, shares of the company are available at a premium of ₹26 on the gray market today.
Important details about Popular Vehicles' IPO
1]Popular vehicles IPO GMP: Shares in the automobile dealer are available at a premium of ₹26 are on the gray market today, market watchers say.
2] Popular vehicle IPO price: The company has set the price range of the public issue ₹280 tons ₹295 per share.
3] Popular Vehicles IPO date: The book edition opens on March 12, 2024 and will remain open until March 14, 2024. This means the public edition will remain available to create from Tuesday to Thursday of next week.
4]Popular Vehicles IPO Size: The public issue is a combination of fresh shares and OFS (Offer for Sale). The company's goal is to increase ₹601.55 crore from the original offer, thereof ₹250 crore is expected to be raised by issuing new shares. The rest ₹351.55 crore is reserved for the OFS.
Infographic: Courtesy of mintgenie
5]Lot size of the Popular Vehicles IPO: A bidder can apply in lots and one public issue lot includes 50 shares of the automobile retail company.
6]Popular Vehicles IPO allotment date: The completion of the share allocation is most likely on March 15, 2024, i.e. Friday next week.
7]Popular Vehicles IPO Registrar: Link Intime Private Limited has been appointed as the official registrar of the IPO of Popular Vehicles.
8]Popular Vehicles IPO: The book-build issue is proposed for listing on BSE and NSE.
9]Popular Vehicles Listing Date: The most likely listing date is March 19, 2024.
10]Valuation of Popular Vehicles IPO: In FY23, the company reported an increase in revenue of around 40.50 percent while the company's profit after tax (PAT) grew by nearly 90 percent during the period. For the period ending September quarter 2023, the company's assets amounted to ₹1,941.78 crore, sales at ₹2,848.21 crore while the PAT stood at ₹40.04 crore. In the last two financial years, the automobile retail company has witnessed an increase in revenue, PAT and net worth. However, the company's debt also increased during this period.
Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not Mint. We recommend investors consult certified experts before making an investment decision.
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