Popular Vehicles and Services Limited is engaged in the business of automobile dealerships in India.
Popular Vehicles provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.
The company’s business can be divided into three segments:
- Passenger vehicles including luxury vehicles,
- Commercial vehicles and,
- Electric two-wheeler and three-wheeler vehicles.
The company currently operates through a vast network consisting of 59 showrooms, 126 sales outlets, and booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorized service centers, 40 retail outlets, and 24 warehouses across 14 districts of Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, and 7 districts in Maharashtra. In addition to its showrooms, the sales outlets and booking offices also facilitate its sales, whereas the retail outlets are responsible for selling and distributing spare parts and accessories.
In FY 2023, the company serviced 791,360 vehicles – 5,212 luxury, 163,013 commercial, 1,918 electric two-wheeler, and 857 electric three-wheeler vehicles – through 130 authorized service centers across dealerships.
As of July 31, 2023, the company had a total of 10,275 employees.
Popular Vehicles & Services IPO – Details
| IPO Opening Date | 12 March 2024 |
| IPO Closing Date | 14 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2,03,91,651 Shares Worth ₹601.55 Crore Fresh Issue: 84,74,576 Shares Worth ₹250 Crore Offer For Sale: 1,19,17,075 Shares Worth ₹351.55 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹280 – ₹295 |
| Market Lot | 50 Shares |
| Min Order | 50 Shares (1 Lot) |
| Employee Discount | Rs 28 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Popular Vehicles & Services IPO – Date Schedule
| IPO Open Date | 12 March 2024 |
| IPO Close Date | 14 March 2024 |
| Basis of Allotment Date | 15 March 2024 |
| Initiation of Refund | 18 March 2024 |
| Credit of Shares to Demat Account | 18 March 2024 |
| IPO Listing Date | 19 March 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 14 March 2024 |
Popular Vehicles & Services IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹14,750 |
| Retail (Max) | 13 | 650 | ₹1,91,750 |
| S-HNI (Min) | 14 | 700 | ₹2,06,500 |
| S-HNI (Max) | 67 | 3,350 | ₹9,88,250 |
| B-HNI (Min) | 68 | 3,400 | ₹10,03,000 |
Competitive Strengths
- Long standing presence in the automobile industry and well-established relationships with leading OEMs;
- Penetration in markets in which they operate complemented by innovative marketing strategies;
- Fully integrated business model leading to business stability and higher margin;
- Proven ability to identify and capture inorganic as well as organic growth opportunities;
- Consistent track record of profitable financial performance and increasing growth; and
- Experienced promoters and management team.
Company Promoters
- John K. Paul
- Francis K. Paul
- Naveen Philip
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 2919.25 | 2872.00 | 32.45 | 353.04 |
| 31 March 2022 | 3484.19 | 3435.65 | 33.66 | 371.91 |
| 31 March 2023 | 4892.62 | 4807.76 | 64.07 | 505.01 |
| 30 September 2023 | 2848.20 | 2795.93 | 40.04 | 764.61 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 10.42% |
| ROCE | 8.83% |
| Debt/Equity | 1.99 |
| RoNW | 10.42% |
| P/BV | 4.82 |
| PAT Margin (%) | 1.41 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 10.22 | 11.25 |
| P/E (x) | 28.88 | 26.22 |
Object Of The Issue
- Repayment and/or pre-payment, in full or part, of certain borrowings, availed by the company and certain of the subsidiaries, namely, VMPL, PAWL, PMMIL, KGPL, KCPL and PMPL and;
- General corporate purposes.
Popular Vehicles & Services IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Landmark Cars Limited | 34.84 |
Popular Vehicles & Services IPO Promoter Holding
| Pre Issue Share Holding | 69.45% |
| Post Issue Share Holding | 61.18% |
Popular Vehicles & Services IPO Prospectus
Company Contact Information
| Popular Vehicles & Services Limited Kuttukaran Centre Mamangalam, Cochin Ernakulam 682 025 Phone: +91 484 2341 134 Email: cs@popularv.com Website: https://www.popularmaruti.com/ |
Popular Vehicles & Services IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: popularvehicles@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Popular Vehicles & Services IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Nuvama Wealth Management Limited 3. Centrum Capital Limited |
Popular Vehicles & Services IPO FAQs
| What is Popular Vehicles & Services IPO? Popular Vehicles & Services IPO is a main-board IPO. The issue is priced at ₹280 to ₹295 per equity share. The IPO is to be listed on BSE & NSE. |
| When Popular Vehicles & Services IPO will open? The IPO is to open on 12 March 2024 for QIB, NII, and Retail Investors. |
| What is Popular Vehicles & Services IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Popular Vehicles & Services IPO? You can apply Popular Vehicles & Services IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Popular Vehicles & Services IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Popular Vehicles & Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Popular Vehicles & Services IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Popular Vehicles & Services“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Popular Vehicles & Services IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Popular Vehicles & Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Popular Vehicles & Services IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Popular Vehicles & Services”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Popular Vehicles & Services IPO Size? Popular Vehicles & Services IPO size is ₹601.55 Crore. |
| What is Popular Vehicles & Services IPO Price Band? Popular Vehicles & Services IPO Price Band is ₹280 to ₹295. |
| What is Popular Vehicles & Services IPO Minimum and Maximum Lot Size? The minimum bid is 50 Shares with ₹14,750 amount while the maximum bid is 650 Shares with ₹1,91,750. |
| What is the Popular Vehicles & Services IPO Allotment Date? Popular Vehicles & Services IPO allotment date is 15 March 2024. |
| What is the Popular Vehicles & Services IPO Listing Date? Popular Vehicles & Services IPO listing date is 19 March 2024. The IPO is to list on BSE and NSE. |
