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Popular Vehicles and Services IPO
Introduction to Popular Vehicles and Services IPO
Popular Vehicles and Services Ltd is gearing up for its Initial Public Offering (IPO), set to take place from March 12th to March 14th, 2024. This article delves into the essential details surrounding this IPO, including bidding dates, price range, minimum and maximum investment, issue size, and more.
Bidding Dates and Investment Details
Bidding Dates
The IPO bidding window opens on March 12th, 2024, and closes on March 14th, 2024.
Investment Range
- Minimum Investment: ₹14,750 for 1 Lot (50 Shares)
- Maximum Investment: ₹191,750 for 13 Lots (650 Shares)
- Price Range: ₹280 - ₹295 per share
- Issue Size: ₹601.55 Cr.
Investor Categories and Subcategories
Popular Vehicles and Services IPO caters to the following investor categories:
- Qualified Institutional Buyers
- Retail Individual Investors
- Non-institutional Investors
IPO Allotment and Listing Dates
Important Dates
- Opening Date: March 12, 2024
- Closing Date: March 14, 2024
- Basis of Allotment: March 15, 2024
- Initiation of Refunds: March 18, 2024
- Credit of Shares to Demat: March 18, 2024
- Listing Date: March 19, 2024
- Cut-off time for UPI mandate confirmation: March 14, 2024
About Popular Vehicles and Services Ltd
Popular Vehicles & Services Limited, a subsidiary of the diverse Kuttukaran Group, operates multi-brand automobile dealerships across Kerala, Tamil Nadu, and Karnataka. As of March 31, 2023, we stand proudly among the top six dealerships in India in terms of sales volume for both passenger and commercial vehicles.
Established by the late Shri. K. P. Paul in 1984, our journey began as pioneers appointed by Maruti Suzuki in India. Over the years, our operations expanded across Kerala and Chennai.
Today, Popular Vehicles manages the fifth largest selling Maruti Suzuki dealership in India under the Arena network and the eighth largest under the Nexa network, based on fiscal 2023 data. We also attained the prestigious "Royal Platinum Band" for Arena Dealerships in Kerala, "Gold Band" in Chennai, and "Alpha Band" for Nexa Dealerships during the financial year 2022-2023.
Our commitment to customer satisfaction is reflected in our round-the-clock Customer Relationship Center and active engagement through social media platforms.
With over 70 years of industry experience, the Kuttukaran Group has been integral to our success. Led by seasoned professionals like Mr. John K. Paul, Mr. Francis K Paul, and Mr. Naveen Philip, our management team boasts extensive expertise in the automobile sector. This wealth of experience, coupled with our core philosophy of "Passionately Enriching Mobility," has positioned us as trusted partners to our OEMs, giving us a competitive edge in the automotive industry.
Financial Performance and Objectives
Financials
| Particulars (In Rs Cr) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Total Income | 48,926.28 | 34,841.99 | 29,192.52 |
| Profit (Loss) for the Year | 640.74 | 336.69 | 324.55 |
| Debt-Equity Ratio | 1.47 | 1.33 | 1.44 |
| Return on Capital Employed | 18.32% | 16.79% | 17.09% |
IPO Objectives
The proceeds from the IPO will primarily be utilized for:
- Repayment/pre-payment of borrowings
- General corporate purposes
Peer Comparison and Allotment Status
Peer Company
The only listed peer company of Popular Vehicles and Services is Landmark Cars Limited.
Allotment Status
Investors can check the IPO allotment status through NSE , ensuring a seamless experience.
Strengths and Risks
Strengths
- Market stronghold and innovative marketing strategies.
- Fully integrated services fostering revenue growth and business stability.
- Comprehensive coverage throughout the car ownership lifecycle, enhancing customer retention.
Risks
- Vulnerability to economic fluctuations impacting operations.
- Dependence on OEM relationships for revenue, posing operational risks.
- Concentrated focus on India's southern region, potentially limiting growth prospects.
FAQs: Your Burning Questions Answered
- What is Popular Vehicles and Services Ltd's IPO? Popular Vehicles and Services’s IPO is a book-built IPO, with bidding dates from March 12th to March 14th, 2024.
- When will Popular Vehicles and Services Ltd's IPO be allotted? The IPO allotment dates will be announced post the closing of the bidding window.
- What minimum lot size can retail investors subscribe to? Retail investors can subscribe to a minimum lot size of 50 shares.
- When will Popular Vehicles and Services Ltd list on exchanges? The listing date for Popular Vehicles and Services Ltd is scheduled for March 19, 2024.
- What would be the listing gains on the Popular Vehicles and Services Ltd IPO? Listing gains are subject to market dynamics and demand during the listing process.
- How do I approve the UPI mandate request for Popular Vehicles and Services Ltd's IPO? Investors can approve the UPI mandate request through their respective banking apps or platforms.
- Can I submit more than one application for the public issue of Popular Vehicles and Services Ltd using one PAN? Yes, investors can submit multiple applications using a single PAN, subject to regulatory guidelines.
Conclusion
The Popular Vehicles and Services IPO presents a lucrative investment opportunity in the burgeoning automotive sector. With robust financials, a diverse portfolio, and strategic objectives, the company is poised for substantial growth in the coming years.
