Popular Vehicles & Services IPO: From price range to GMP, here are 10 things to know about the upcoming public offering
Popular IPO of Vehicles and Services: Popular Vehicles & Services is expected to launch its initial public offering (IPO) on March 12, 2024. Investors have until Thursday, March 14, 2024 to participate in the public offering.
Approximately 50 percent of the issue is allocated to Qualified Institutional Buyers (QIB), with not less than 35 percent reserved for retail investors and at least 15 percent reserved for Non-Institutional Investors (NII).
Also read: Popular Vehicles IPO begins next week. GMP, review, further details on the upcoming IPO
Popular Vehicles and Services Limited operates in the automobile trading sector in India and offers a comprehensive range of vehicle-related services including sales of new and used vehicles, maintenance, spare parts distribution, driving schools and sales of third party financial and insurance products.
In FY2023, the company recorded a notable increase in revenue with a growth of 40.42 percent while its profit after tax (PAT) recorded a significant increase of 90.31 percent.
Also Read: ₹280-295 per piece, check issue details, important dates and more”>IPO for popular vehicles and services: Price range set at ₹280-295 each, check issue details, important dates and more
Here are 10 important factors to consider in Popular Vehicles & Services IPO before the subscription opens:
- Popular Vehicles & Services IPO Date: The call for tenders for the upcoming IPO is scheduled for March 12, 2024, and the offer phase ends on March 14, 2024.
- Popular price range for IPOing vehicles and services: The company has set the price range for the public offering ₹280 tons ₹295 per share.
- Popular IPO size for vehicles and services: The offer includes both fresh shares and an offer for sale (OFS) with the aim of raising capital ₹601.55 crore from the original offer. Of this amount ₹250 crore is earmarked for new issue and the rest ₹351.55 crore has been earmarked for the OFS.
- Popular IPO lot size for vehicles and services: Investors have the opportunity to apply in packages of 50 shares of the automobile dealer.
- Popular promoters of IPO of vehicles and services: The company's supporters include John K. Paul, Francis K. Paul and Naveen Philip.
- Popular Allotment Date for Vehicles & Services IPO: Allotment for the automobile company's IPO is expected to close on Friday, March 15, 2024.
- Popular Vehicles & Services Listing Date: The initial public offering (IPO) of Popular Vehicles & Services will be listed on both the BSE and NSE, with the preliminary IPO set for Tuesday, March 19, 2024.
- Popular IPO Registrar for Vehicles and Services: Link Intime India Private Ltd is acting as the registrar for the upcoming IPO.
- Popular IPO Book Running Managers for Vehicles and Services: The underwriters of the public issue are ICICI Securities Limited, Nuvama Wealth Management Limited and Centrum Capital Limited.
- Popular vehicles and services IPO GMP: The company's shares are currently available at a premium of ₹27 on the gray market today.
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Published: Mar 10, 2024 05:05 PM IST
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