Popular Vehicles & Services was incorporated on July 5, 1983. The company operates passenger vehicle dealerships covering economy, premium, and luxury vehicles across its dealerships for the following OEMs: Maruti Suzuki India, Honda Cars India, Jaguar Land Rover India, as well as commercial vehicle dealerships of Tata Motors and Daimler India Commercial Vehicles, an electric three-wheeler vehicle dealership of Piaggio Vehicles, and an electric two-wheeler vehicle dealership of Ather Energy.
| Bidding Dates |
|---|
| 12 Mar 2024 - 14 Mar 2024 |
| Subscription |
|---|
| 1.23x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,000 | 1 | 13 | 50 | 20.4 M | ₹280 - ₹295 | 44.44 % | ₹5709.7 M - ₹6015.5 M | RHP DOC |
Popular Vehicles IPO SUBSCRIPTION STATUS
14 Mar '24Popular Vehicles IPO overall subscription rate was 1.23 times the total available shares
Popular Vehicles IPO retail subscription rate was 1.05 times in the retail segment
Popular Vehicles IPO non-institutional investor subscription rate was 0.66 times in the non-institutional investor category
Popular Vehicles IPO Qualified Institutional Bidder subscription rate was 1.97 times the available shares for Qualified Institutional Bidder
Popular Vehicles IPO Employees subscription rate was 7.59 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
14 Mar 2024 (Day 3) | 1.05x | 0.66x | 1.97x | 7.59x |
13 Mar 2024 (Day 2) | 0.78x | 0.2x | 0x | 6.16x |
12 Mar 2024 (Day 1) | 0.47x | 0.11x | 0x | 3.83x |
Popular Vehicles FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 400.4 | 28,350.0 | -1,611.0 | -1,907.4 | 5.1% |
| FY23 | 640.7 | 48,750.0 | 1,088.9 | 558.6 | 4.8% |
| FY22 | 336.7 | 34,658.8 | 696.9 | 255.2 | 5.1% |
| FY21 | 324.6 | 28,935.3 | 951.7 | 787.7 | 6.0% |
Popular Vehicles IPO SUBSCRIPTION STATUS DETAILS
Popular Vehicles had 20.4 M shares on offer
Popular Vehicles IPO offer price was in the range ₹280 - ₹295
Popular Vehicles IPO minimum Investment was ₹14000
Popular Vehicles IPO issue size was ₹ 5709.7 M - ₹ 6015.5 M
Popular Vehicles had a minimum lot size of 50 Shares per application
Popular Vehicles NUMBER OF SHARES ON OFFER
Popular Vehicles IPO IMPORTANT DATES
| Issue Open Date | 12 Mar 2024 |
| Issue close Date | 14 Mar 2024 |
| Allotment Date | 15 Mar 2024 |
| Refund Date | 18 Mar 2024 |
| Demat Account Credit Date | 18 Mar 2024 |
| Listing Date | 19 Mar 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Popular Vehicles Allotment Status | Exchange |
Popular Vehicles IPO subscription opened on 12 Mar 2024, and closed on 14 Mar 2024
IPO allotment for Popular Vehicles was finalized on Friday, 15 Mar 2024
IPO listing for Popular Vehicles was on NSE and BSE on Tuesday, 19 Mar 2024
Popular Vehicles IPO LISTING GAINS
| Issue Price (adjusted) | 295.0 |
| Listing Open Price | 289.2 |
| Listing Close Price | 276.1 |
| Listing Gain% | -2.0% |
| Current Gain% | -61.0% |
Popular Vehicles Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Popular Vehicles and Services Ltd. | 115 | 818.8 | -348.9 | -3.9 | 0.1 | -2 | -0.5 | 6401.1 | 15.1 | -12.5 | -19.2 | -0.3 | 90.5 |
| Vedant Fashions Ltd. | 528.8 | 12848.7 | 33.3 | -13.4 | 8.8 | 19.1 | 13.2 | 1529 | 3.9 | 375.5 | -3.3 | 15.9 | -2.5 |
| Aditya Birla Lifestyle Brands Ltd. | 89.1 | 10877.3 | 61.8 | 0.3 | 1.3 | 12.1 | 2 | 8480.9 | 7.2 | 171 | 187 | 1.4 | 189.8 |
| Aditya Vision Ltd. | 625.8 | 8081.5 | 58.1 | 2 | 2.8 | 17 | 7.9 | 2681.5 | 18.3 | 116.9 | 10.8 | 10.8 | 29.2 |
| Ethos Ltd. | 2781 | 7441.3 | 71.6 | 5.8 | 4.3 | 6.4 | 4.3 | 1658.4 | 30 | 94.8 | -1.6 | 38.8 | 12.3 |
| Electronics Mart India Ltd. | 187.4 | 7211 | 35 | 0.4 | 0.9 | 6.6 | 2.8 | 7191.4 | 3.1 | 107.1 | -33.1 | 5.4 | 88.8 |
Popular Vehicles INFORMATION ON IPO ISSUE
About Popular Vehicles
Popular Vehicles & Services was incorporated on July 5, 1983. The company operates passenger vehicle dealerships covering economy, premium, and luxury vehicles across its dealerships for the following OEMs: Maruti Suzuki India, Honda Cars India, Jaguar Land Rover India, as well as commercial vehicle dealerships of Tata Motors and Daimler India Commercial Vehicles, an electric three-wheeler vehicle dealership of Piaggio Vehicles, and an electric two-wheeler vehicle dealership of Ather Energy.
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
- General corporate purpose
Popular Vehicles - PROMOTERS
| Name |
|---|
| John K Paul |
| Francis K Paul |
| Naveen Philip |
Popular Vehicles Book Running Lead Manager
ICICI Securities Limited
popular.ipo@icicisecurities.com
Nuvama Wealth Management Limited
Popular.ipo@nuvama.com
Centrum Capital Limited
popular.ipo@centrum.co.in
Popular Vehicles Registrar to the Offer
Link Intime India Private Limited
popularvehicles.ipo@linkintime.co.in
Popular Vehicles Strengths
Long standing presence
The company has a longstanding presence in the automobile industry and well-established relationships with leading OEMs
Market penetration
The company has significant market penetration in the regions where it operates, supported by innovative marketing strategies. Its network includes 29 showrooms and 85 sales outlets and booking offices for the sale of new passenger vehicles, 21 showrooms and 36 sales outlets and booking offices for the sale of commercial vehicles, 81 authorized service centers for servicing and repair of passenger vehicles, and 44 authorized service centers for servicing and repair of commercial vehicles. Additionally, it has 9 dedicated showrooms and 22 sales outlets and booking offices for the sale of pre-owned passenger vehicles
Fully integrated business model
The company boasts diversified automobile dealerships and a fully integrated business model, contributing to its status as a leading player in the automobile dealership sector
Popular Vehicles Risks
Dependent on few states
A large portion of the company's business operations are concentrated in the states of Kerala, Tamil Nadu, and Karnataka. Any adverse developments in these states could negatively affect the business
Increasing competition
Increasing competition among automotive dealerships through both online and offline marketing is reducing profit margins on vehicle sales and related businesses
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its subsidiaries, promoters, and directors. Adverse outcomes in such proceedings may negatively impact the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 351.6 crore, of 11,917,075 shares. It also consists of a fresh issue of Rs 250.0 crore.
The promoters of the company are John K Paul, Francis K Paul and Naveen Philip.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 280.0 - 295.0.
The IPO application opens on Mar 12, 2024 and closes on Mar 14, 2024.
The minimum lot size for the IPO is 50. The maximum lot size for the IPO is 650.
For all category investors, the minimum application amount for this IPO is Rs. 14,000.0, the maximum value for this IPO is Rs 191,750.0.
This IPO will be allotted on Mar 15, 2024.
The refund will be credited to your account on Mar 18, 2024.
The allotted shares will be credited to your demat on Mar 18, 2024.
Popular Vehicles and Services Ltd.’s shares listed on the stock exchanges on Mar 19, 2024.