Popular Vehicles IPO Date, Review, Price, Allotment Details

Popular Vehicles IPO Details: Popular Vehicles & Services IPO date is fixed, the IPO is to hit the market on March 12. and will close on March 14. Popular Vehicles & Services IPO to raise around ₹601.55 crores via IPO that comprises fresh issue of ₹250 crores and offer for sale up to 11,917,075 equity shares of ₹2 each. The retail quota is 35%, QIB is 50%, and HNI is 15%.
Popular Vehicles & Services IPO

Table of Contents


Popular Vehicles & Services is a leading diversified automobile dealership in India in terms of revenue as of Fiscal 2023, (Source: CRISIL Report) having a fully integrated business model. They cater to the complete life cycle of vehicle ownership, right from the sale of new vehicles, servicing and repairing vehicles, and distributing spare parts and accessories, to facilitating the sale and exchange of preowned vehicles, operating driving schools, and facilitating the sale of third-party financial and insurance products. they categorize their automobile dealership business into three key segments, namely, (a) passenger vehicles including luxury vehicles, (b) commercial vehicles, and (c) electric two-wheeler and three-wheeler vehicles, which contributed to their revenue from operations aggregating ₹30,143.51 million, ₹15,702.54 million and ₹559.05 million, respectively, in Fiscal 2023.


They operate (a) passenger vehicle dealerships covering economy, premium and luxury vehicles across their dealerships for the following OEMs: (i) Maruti Suzuki India Limited (“Maruti Suzuki”) for both Arena and Nexa, through the Company, (ii) Honda Cars India Limited (“Honda”) through their Subsidiary, VMPL, and (iii) Jaguar Land Rover India Limited (“JLR”) through their Subsidiary, PAWL; (b) commercial vehicle dealerships of (i) Tata Motors Limited (“Tata Motors (Commercial)”), through their Subsidiary, PMMIL and (ii) Daimler India Commercial Vehicles Private Limited (“BharatBenz”), through their Subsidiary, PMPL; and (c) electric three-wheeler vehicle dealership of Piaggio Vehicles Private Limited, including commercial and cargo vehicles (“Piaggio”), through their Subsidiary, KGPL and electric two-wheeler vehicle dealership of Ather Energy Private Limited (“Ather”), through their Subsidiary, KCPL. Their presence across vehicle categories, including passenger vehicles, commercial vehicles, and electric two-wheeler and three-wheeler vehicles, further diversifies their revenue streams.

Popular Vehicles acquired 11 service centers and 2 showrooms from a dealer of Maruti Suzuki in Kerala in 2021. Further, they acquired 8 showrooms, 17 service centers, and 3 sales outlets and booking offices of BharatBenz in Tamil Nadu and Maharashtra. They have also expanded their post-sale services and repair verticals in the last three Fiscals. Their revenue from servicing passenger vehicles and commercial vehicles has seen a significant increase, from ₹3,651.64 million and ₹675.06 million in Fiscal 2021 to ₹5,716.13 million and ₹1,418.65 million in Fiscal 2023, respectively. In Fiscal 2023, they were ranked ‘All India Highest in the Bodyshop Load’ for Maruti Suzuki. Further, the number of electric two-wheeler and three-wheeler vehicles sold by us has also increased from 252 in Fiscal 2022 to 3,381 in Fiscal 2023.


Objects 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.
  • IGeneral corporate purposes.
  • Apply with Longterm View

Brokerage Firm IPO Review

  • Capital Market: NA
  • Religare Broking: NA
  • Hem Securities: NA
  • Arihant Capital: NA
IPO Open:March 12, 2024
IPO Close:March 14, 2024
IPO Size:Approx ₹601.55 Crores
Fresh Issue:Approx ₹250 Crores
Offer for Sale:Approx 11,917,075 Equity Shares 
Face Value:₹2 Per Equity Share
IPO Price Band:₹280 to ₹295 Per Share
IPO Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
 NII Quota:15%
Discount:N/A
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

The Popular Vehicles & Services IPO minimum market lot is 50 shares with ₹14,750 application amount. The retail investors can apply up-to 13 lots with 650 shares or ₹191,750 amount.

ApplicationLot SizeSharesAmount
Retail Minimum150₹14,750
Retail Maximum13650₹191,750
S-HNI Minimum14700₹206,500
B-HNI Minimum683400₹1,003,000

The Popular Vehicles & Services IPO date is March 12 and the close date is March 14. The Popular Vehicles & Services IPO allotment will be finalized on March 15 and the IPO listing on March 19.

Anchor Investors Allotment:March 11, 2024
IPO Open Date:March 12, 2024
IPO Close Date:March 14, 2024
Basis of Allotment:March 15, 2024
Refunds:March 18, 2024
Credit to Demat Account:March 18, 2024
IPO Listing Date:March 19, 2024

You can check IPO subscription status and IPO allotment status on their respective pages.

How to apply for the Popular Vehicles & Services IPO? You can apply for Popular Vehicles & Services IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Popular Vehicles & Services IPO in the Invest section. The other option is you can apply for Popular Vehicles & Services IPO via IPO forms downloaded via NSE and BSE. Check out the Popular Vehicles & Services forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.


  ₹ in Crores
YearRevenueExpensePAT
2021₹2919.25₹2872.00₹32.46
2022₹3484.20₹3435.65₹33.67
2023₹4892.62₹4807.76₹64.07
Sep 2023₹2848.21₹2795.94₹40.04

Check Popular Vehicles & Services IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

Earning Per Share (EPS):₹10.22 per Equity Share
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):18.68%
Net Asset Value (NAV):₹54.69 per Equity Share

Peer Group

  • Landmark Cars Limited

Company Promoters

  • John K. Paul
  • Francis K. Paul 
  • Naveen Philip

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/

Check Popular Vehicles & Services IPO allotment status on Linkintime website allotment URL. Click Here

  • ICICI Securities Limited
  • Nuvama Wealth Management Limited
  • Centrum Capital Limited

Company Address

Popular Vehicles & Services Limited
Kuttukaran Centre
Mamangalam, Cochin
Ernakulam 682 025
Phone: +91 484 2341 134
Email: [email protected]
Website: https://www.popularmaruti.com/

Popular Vehicles & Services IPO FAQs

What is Popular Vehicles & Services IPO?

Popular Vehicles & Services IPO is a main-board IPO. They are going to raise ₹601.55 Crores via IPO. The issue is priced at ₹280 to ₹295 pr equity share. The IPO is to be listed on BSE & NSE.

When Popular Vehicles & Services IPO will open?

The IPO is to open on March 12, 2024 for QIB, NII, and Retail Investors.

What is Popular Vehicles & Services IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Popular Vehicles & Services IPO?

You can apply for 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 Zerodha?

Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Popular Vehicles & Services”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

How to Apply the Popular Vehicles & Services IPO through Upstox?

Log in to the 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 Paytm Money?

Log in to Paytm Money 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 Paytm Money.

What is Popular Vehicles & Services IPO Size?

Popular Vehicles & Services IPO size is ₹601.55 crores.

What is Popular Vehicles & Services IPO Price Band?

Popular Vehicles & Services IPO Price Band is ₹280 to ₹295.

What is the Popular Vehicles & Services IPO Allotment Date?

Popular Vehicles & Services IPO allotment date is March 15, 2024.

What is the Popular Vehicles & Services IPO Listing Date?

Popular Vehicles & Services IPO listing date is March 19, 2024. The IPO is to list on BSE and NSE.

Note: The Popular Vehicles & Services IPO price band and date are officially announced. The IPO grey market premium (Popular Vehicles & Services IPO Premium) will be added to the IPO grey market page as it will start).

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