Popular Vehicles IPO: The initial public offering (IPO) of Popular Vehicles & Services Limited is going to hit the Indian primary market on 12th March 2024 i.e. on Tuesday next week. The public issue will remain for subscribers till 14th March 2024 i.e. till Thursday next week. The automobile dealer company has fixed Popular Vehicles IPO price band at ₹280 to ₹295 per equity share. The book build issue aims to raise ₹601.55 crore. The initial offer is proposed for listing on BSE and NSE. Ahead of upcoming IPO subscription opening date, shares of the company have become available in the grey market. According to stock market observers, shares of the company are available at a premium of ₹26 in the grey market today.
Important Popular Vehicles IPO details
1] Popular Vehicles IPO GMP: Shares of the automobile dealer company are available at a premium of ₹26 in the grey market today, say market observers.
2] Popular Vehicles IPO price: The company has fixed the price band of the public issue at ₹280 to ₹295 per equity share.
3] Popular Vehicles IPO date: The book build issue opens on 12th March 2024 and will remain open till 14th March 2024. This means the public issue will remain available for building from Tuesday to Thursday next week.
4] Popular Vehicles IPO size: The public issue is a combination of fresh shares and OFS (Offer for Sale). The company aims to raise ₹601.55 crore from its initial offer out of which ₹250 crore is aimed from the issuance of fresh shares. The rest ₹351.55 crore is reserved for the OFS.
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5] Popular Vehicles IPO lot size: A bidder will be able to apply in lots and one lot of the public issue comprises 50 shares of the automobile retailer company.
6] Popular Vehicles IPO allotment date: The finalization of share allocation is most likely on 15th March 2024 i.e. on Friday next week.
7] Popular Vehicles IPO registrar: Link Intime Private Limited has been appointed as the official registrar of the Popular Vehicles IPO.
8] Popular Vehicles IPO listing: The book build issue is proposed for listing on BSE and NSE.
9] Popular Vehicles IPO listing date: The most likely date for share listing is 19th March 2024.
10] Popular Vehicles IPO review: In FY23, the company reported around a 40.50 percent rise in revenue whereas the Profit After Tax (PAT) of the company grew by nearly 90 percent during this time. In the period that ended the September 2023 quarter, the company’s assets stood at ₹1,941.78 crore, revenue at ₹2,848.21 crore whereas the PAT stood at ₹40.04 crore. In the last two financial years, the retail automobile company has reported a rise in revenue, PAT, and net worth. But, the company’s debt also increased in this period.
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Published: 09 Mar 2024, 12:28 PM IST