Popular Vehicles & Services IPO
Popular Vehicles & Services IPO — date, price band, lot size & details 2024
Popular Vehicles & Services listed on 19 Mar 2024 at ₹289.2, 2% below the ₹295 issue price.
Popular Vehicles & Services is a diversified automobile dealership covering passenger, luxury, commercial and electric vehicles, from sales to service and spares. Its total income was Rs 4,892.63 crore in FY2023.
Stock price
Popular Vehicles & Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 12 Mar 2024
- Close 14 Mar 2024
- Allotment 15 Mar 2024
- Refund/credit 18 Mar 2024
- Listing 19 Mar 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 12 to 14 Mar, 2024 |
|---|---|
| Price Band | ₹280 – ₹295 |
| Face Value | ₹2 |
| Lot Size | 50 Shares |
| Issue Size | ₹601.55 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 28.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,750 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹295 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 2,919.25 crore in FY2021 to Rs 4,892.63 crore in FY2023.
- 02Profit after tax rose from Rs 32.46 crore in FY2021 to Rs 64.07 crore in FY2023.
- 03Rs 192.00 crore of the fresh issue was planned for repaying debt.
- 04Service, spares and pre-owned sales give steadier income than new vehicle sales, across 3 vehicle segments.
- 05The promoters did not sell shares, and only BanyanTree sold Rs 351.52 crore in the offer.
Risks · 5
- 01Margins are very thin, and the source puts the PAT margin at 1.41%.
- 02Total borrowing rose from Rs 505.01 crore on 31 March 2023 to Rs 764.61 crore on 30 September 2023.
- 03Dealership agreements with carmakers can change, and vehicle demand is cyclical. Profit was Rs 40.04 crore in the six months to 30 September 2023.
- 04The pre-issue P/E was 28.88 at the upper band of Rs 295, based on EPS of Rs 10.22.
- 05Promoters and the promoter group held 69.45% before the issue and 61.17% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Popular Vehicles & Services offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 1,941.78 | 1,503.78 | 1,263.29 | 1,118.94 |
| Total Income | 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 | 246.00 |
| Reserves and Surplus | 371.67 | 330.50 | 267.34 | 233.46 |
| Total Borrowing | 764.61 | 505.01 | 371.91 | 353.04 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Popular Vehicles & Services RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Popular Vehicles & Services IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.22 | ₹11.25 |
| P/E Ratio (x) | 28.88 | 26.22 |
| Market Cap at Offer Price (₹ Cr) | ₹1,155.75 | ₹1,049.94 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹295 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹228.99 Cr of the issue is earmarked to named objects.
About the company
It covers the full life cycle of vehicle ownership, from new vehicle sales, servicing and repair, and spare parts and accessories, to pre-owned vehicle sales, driving schools and third-party finance and insurance.
Its segments are passenger vehicles including luxury vehicles, commercial vehicles, and electric two- and three-wheelers. Its promoters are John K. Paul, Francis K. Paul and Naveen Philip.
The IPO was Rs 601.55 crore, with Rs 250.04 crore of fresh issue and Rs 351.52 crore of offer for sale by BanyanTree Growth Capital II. Rs 192.00 crore was planned for repaying borrowings of the company and its subsidiaries.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Popular Vehicles & Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
Centrum Capital Ltd.
4 issues handledBest listing: Pranav Constructions (+33.1%). Weakest: Waterways Leisure Tourism (-14.6%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Popular Vehicles & Services?
The current Grey Market Premium is ₹1.97, or 1% over the issue price.
What is the Popular Vehicles & Services IPO price band?
₹280 to ₹295, on a face value of ₹2.
When is the allotment?
The basis of allotment is 15 March 2024, with listing on 19 March 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
