IPO Details


Issue Date

12 Mar - 14 Mar'24


₹ 14750

Price Range

280 - 295

Lot Size


IPO Size

₹ 601.62 Cr

IPO Listing Details

Listing On

19 Mar'24

Issue Price


Listed Price

₹ 289.2

Retail Gain/Listing Gain


Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

All you need to know about Popular Vehicles & Services Ltd
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Popular Vehicles and Services is a diversified automobile dealership in India in terms of revenue as of Fiscal 2023, having a fully integrated business model (Source: CRISIL Report).

The company caters to the complete life cycle of vehicle ownership, right from the sale of new vehicles, servicing and repairing vehicles, distributing spare parts and accessories, to facilitating the sale and exchange of pre-owned vehicles, operating driving schools and facilitating the sale of third-party financial and insurance products.

Proven ability to identify and capture inorganic as well as organic growth opportunities

As part of the company’s strategic plan to expand the business into other territories and states, the company acquired the entire operations of a sizeable spare parts distributor in Karnataka, in Fiscal 2019, which helped establish business channels and a steady foothold in Karnataka. The acquired business division contributed to a total turnover of Rs. 174.60 million and contributed to 12.02% of the company’s total turnover and 7.26% of the total EBITDA of the Company during the six months ended September 30, 2023.

Consistent track record of profitable financial performance and increasing growth

The company’s profit was Rs. 400.44 million, Rs. 640.74 million, Rs. 336.69 million and Rs. 324.55 million for the six months ended September 30, 2023 and Fiscals 2023, 2022, and 2021, respectively.

Long-standing presence in the automobile industry and well-established relationships with leading OEMs

The company set up the first Maruti Suzuki showroom in Trivandrum, Kerala in 1984 under the “Popular” brand. Since then, they have strategically expanded their dealership network across the value chain, from economy to premium to luxury vehicles, by partnering with Honda and JLR in 2008 and 2010, respectively, and subsequently collaborating with Ather and Piaggio in 2021. The entry into the commercial vehicle dealership space occurred in 1997 through a partnership with Tata Motors (Commercial). Operations within the automobile dealership space were further diversified by commencing the spare parts and accessories distribution business in 2005.
  • The automotive industry is sensitive to changing economic conditions and various other factors.

  • The company is subject to the significant influence of its OEMs.

  • Non-renewal, termination or any adverse material modifications made by OEMs to the dealership agreements, will adversely affect business prospects and results of operations.

  • Continue to increase sales at existing dealerships.
  • Expansion of the network and diversification of the product portfolio.
  • Grow through strategic acquisitions.

Here are the key financials for Popular Vehicles & Services Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

Applying for an IPO for the first time?
Here's a video playlist to help you invest in the upcoming Popular Vehicles & Services Limited IPO
How to apply for IPO through ASBA

How to apply for IPO through ASBA

Kotak Securities

04m 01s

Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for Popular Vehicles & Services Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Popular Vehicles & Services IPO FAQs

Popular Vehicles & Services IPO will list on 2024-03-19.

601.62 is the issue size of Popular Vehicles & Services IPO.

The minimum lot size is 50 shares and the investment required is ₹14750.

The price band of Popular Vehicles & Services IPO is ₹280 to ₹295.

You can read more about Popular Vehicles & Services and its IPO from the company’s red herring prospectus (RHP) here.

The Popular Vehicles and Services Limited IPO has an issue size of Rs. 601.55 crores. The IPO opens for subscription on 12th March 2024 and closes on 14th March 2024.

Link Intime India Private Limited is the registrar for this IPO.

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