06-Mar-2024
2 mins read
The Initial Public Offering (IPO) of Popular Vehicles & Services, a book-built issue, includes a fresh issue worth Rs 250.00 crore and an offer for sale of 1.43 crore shares for Rs 2 each. The price band is Rs 280 to Rs 295 per share and lot size for the application is 50 shares. The investors can apply for the company’s IPO from March 12, 2024 till March 14, 2024.
The IPO is managed by ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited, which are the book-running lead managers. Link Intime India Private Ltd has been appointed as the registrar for the issue. The listing will be on both exchanges, i.e., the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
About Popular Vehicles & Services Limited
Popular Vehicles & Services Limited is a diversified subsidiary of Kuttukaran Group, which is operational in Kerala, Tamil Nadu, and Karnataka. It was founded by the late Shri. K. P. Paul launched the Company in 1984. They were part of the first batch of Dealers appointed by Maruti Suzuki in India. The operations were scaled up across Kerala and Chennai over the years of span. Popular Vehicles & Services Limited operates multi-brand automobile dealerships. As of March 31, 2023, they counted in the top six dealers in India in terms of sales by volume. Mr. John K. Paul and Mr.Francis K Paul are directors of Popular Vehicles & Services Limited. Both of them are Promoters with 49+ years of experience in the automobile sector. Meanwhile, the Kuttukaran Group has 70+ years of specialised experience in the automobile industry. Mr. John K. Paul is currently the President of the Kerala Automobiles Dealers Association, whereas Mr. Naveen Philip is now the Managing Director and one of the Promoters, who has 26+ years of experience in the automobile industry.
Primary Objectives of Popular Vehicles & Services Limited IPO 2024
Popular Vehicles & Services Limited is planning to utilise its net funding in writing off its debts and working capital loan, borrowings in full or partly repayments or pre-payments acquired by the Company and certain of its subsidiaries, i.e., PMMIL, KCPL, KGPL, PMPL, VMPL and PAWL. And in other several general corporate purposes.
Financial Performance of Popular Vehicles & Services Limited (In Rs Crore)
The Company reported its net revenue of 1,941.78 Cr and Profit after Tax of 40.04Cr as of 30 Sept 2023 whereas net revenue and PAT for the year ended was Rs 4,892.63 Cr and Rs 64.07 Cr respectively.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,941.78 | 1,503.78 | 1,263.29 | 1,118.94 |
| Revenue | 2,848.21 | 4,892.63 | 3,484.20 | 2,919.25 |
| Profit After Tax | 40.04 | 64.07 | 33.67 | 32.46 |
| Net Worth | 384.21 | 343.04 | 279.89 | 246 |
| Reserves and Surplus | 371.67 | 330.5 | 267.34 | 233.46 |
| Total Borrowing | 764.61 | 505.01 | 371.91 | 353.04 |
Important Details of Popular Vehicles & Services Limited IPO 2024
| Face Value | Rs 2 per share |
| Price Band | Rs 280 to Rs 295 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 20,391,651 shares (aggregating up to Rs 601.55 Cr) |
| Fresh Issue | 8,474,576 shares (aggregating up to Rs 250.00 Cr) |
| Offer for Sale | 11,917,075 shares of Rs 2 (aggregating up to Rs 351.55 Cr) |
| Employee Discount | Rs 28 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 62,721,445 |
| Shareholding post issue | 71,196,021 |
Tentative Timetable of Popular Vehicles & Services IPO 2024
Popular Vehicles & Services IPO opens on March 12, 2024, and closes on March 14, 2024.
| IPO Open Date | 12-Mar-24 |
| IPO Close Date | 14-Mar-24 |
| Basis of Allotment | 15-Mar-24 |
| Initiation of Refunds | 18-Mar-24 |
| Credit of Shares to Demat | 18-Mar-24 |
| Listing Date | 19-Mar-24 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 14, 2024 |
Popular Vehicles & Services IPO Lot Size
A minimum of 50 shares i.e., 1 lot and in multiples thereof can be purchased by investors.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 50 | ₹14,750 |
| Retail (Max) | 13 | 650 | ₹191,750 |
| S-HNI (Min) | 14 | 700 | ₹206,500 |
| S-HNI (Max) | 67 | 3,350 | ₹988,250 |
| B-HNI (Min) | 68 | 3,400 | ₹1,003,000 |
IPO Reservation of Popular Vehicles & Services Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Key Performance Indicator of Popular Vehicles & Services Limited IPO
| KPI | Values |
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/Equity | 1.99 |
| RoNW | 10.42% |
| P/BV | 4.82 |
| PAT Margin (%) | 1.41 |
Promoter Holding of Popular Vehicles & Services Limited IPO 2024
| Shareholding Pre Issue | 65.79% |
| Shareholding Post Issue | – |
Promoters of the Indicator of Popular Vehicles & Services Limited
The promoters of the company are John K. Paul, Francis K. Paul and Naveen Philip
Lead Manager(s) of Popular Vehicles & Services Limited 2024
The lead manager(s) of Popular Vehicles & Services Limited IPO 2024 are ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited.
How to Apply for Popular Vehicles & Services Limited IPO 2024
Wait for the public issue to open for subscription, then click here to apply for the Popular Vehicles & Services Limited IPO 2024 with Bigul.
How to Check Allotment Status of Popular Vehicles & Services Limited IPO 2024
The registrar for Popular Vehicles & Services Limited IPO 2024 is Link Intime India Private Ltd. You can check your allotment status by clicking here.
FAQs
- When is the IPO scheduled to open and close?
Popular Vehicles & Services Limited IPO is scheduled to open on March 12, 2024, investors can can apply for the same till its closing date which is March 14, 2024
- What will be the price band for the IPO?
Popular Vehicles & Services Limited IPO is decided from Rs 280 to Rs 295 per share, an investor can bid from that given price range, for the maximum probability of getting allotted an investor should bid the maximum price of the given band range.
- What are the main objectives of this IPO?
Popular Vehicles & Services Limited planning to utilise its net funding in writing off its of its debts and borrowings in full or partly repayments or pre-payments acquired by the company and certain of its subsidiaries i.e, PMMIL, KCPL, KGPL, PMPL, VMPL and PAWL. And in other several general corporate purposes
- How has Popular Vehicles & Services Limited performed financially?
The Company reported its net revenue of 1,941.78 Cr and Profit after Tax of 40.04Cr as of 30 Sept 2023 whereas net revenue and PAT for the year ended was Rs 4,892.63 Cr and Rs 64.07 Cr respectively.
- What are the key performance indicators of Popular Vehicles & Services Limited?
Key performance indicators include an ROE of 18.68%, a ROCE of 18.32%, a debt-to-equity ratio of 1.47, a RoNW of 18.68%, P/V 4.82 and with PAT margin 1.41%.
- How can I apply for the Popular Vehicles & Services Limited IPO 2024?
Once the Popular Vehicles & Services Limited IPO opens, you can apply for it by clicking here with us on bigul.
- How can I check the allotment status of the IPO?
Investors can check the allotment status of the Krystal Integrated Services Limited IPO 2024 by visiting here.
- Who are the promoters of Popular Vehicles & Services Limited?
The promoters of Popular Vehicles & Services Limited are John K. Paul, Francis K. Paul and Naveen Philip.
- Who is the owner of Popular Vehicles & Services Limited
The owner of Popular Vehicles and Services are Mr John Paul Kuttukaran.
- Where will the IPO be listed?
The IPO will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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