Popular Vehicles & Services Ltd. IPO

Popular Vehicles & Services Ltd.

IPO Listing Details

Listed On


Listed On

Issue Price


Issue Price

Listing Price


Listing Price

Listing Gains

-₹3.00 (-1.02%)

Listing Gains

IPO Details

Bidding Dates

12 Mar - 14 Mar '24

Bidding Dates

Min. Investment


Min. Investment

Lot Size


Lot Size

Price Range

₹280 - ₹295

Price Range

Issue Size

571 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
  • Non-Institutional Investor
  • Qualified Institutional Buyers
  • Employees

About Company

Popular Vehicles and Services Limited was established in 1983 and is a car dealership company in India. Popular Vehicles offers full services for the duration of a vehicle's ownership, including sales of new and used cars, maintenance, the provision of spare parts, driving instruction, and the selling of insurance and financial products to third parties. The three business segments of the company are as follows: 1. Passenger cars, including high-end models 2. Cars used for business 3. Electric two and three-wheeler cars Currently, the company's extensive network spans 14 districts in Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu, 7 districts in Maharashtra, and 59 showrooms, 126 sales outlets, booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorized service centers, 40 retail outlets, and 24 warehouses. The retail outlets are in charge of selling and distributing replacement parts and accessories, while the sales outlets and booking offices assist with sales in addition to the showrooms. Through 130 authorized service centers spread throughout dealerships, the business serviced 791,360 vehicles in FY 2023, including 5,212 luxury, 163,013 commercial, 1,918 electric two-wheeler, and 857 electric three-wheeler vehicles.

Why should you invest in Popular Vehicles & Services Ltd. IPO?

By volume, Popular Vehicles currently runs the Fifth (Fiscal 2023) largest-selling Maruti Suzuki dealership under the Arena network in India, and as of March 31, 2023, the Eighth (Fiscal 2023) most-selling Maruti Suzuki dealership under the Nexa network in India. In terms of the volume of servicing for Maruti Suzuki (Arena and Nexa), the company was placed #1 (Fiscal 2023) in the all-India dealer ranking for the fiscal year 2023.


During the fiscal year 2022–2023, Popular Vehicles & Services Limited (Popular) received the "Royal Platinum Band" from Maruti Suzuki for its arena dealerships in Kerala, the "Gold Band" for its arena dealerships in Chennai, and the "Alpha Band" for its Nexa dealerships. Around-the-clock customer service is provided by a customer relationship center. Also, the business uses social media platforms to actively engage with its clients.

Between Fiscal 2021 and Fiscal 2023, the company's PAT climbed from ₹324.55 million to ₹640.74 million.The total income of the company for the Fiscal Years 2021, 2022, and 2023 was ₹29,192.52 million, ₹34,841.99 million, and ₹48,926.28 million, in that order. There were 10,275 workers overall in the company as of July 31, 2023.

Popular Vehicles & Services Ltd. IPO - SWOT Analysis


  1. Brand Value
  2. Market Share
  3. Product Quality
  4. Number of Sales
  5. Strong Advertising and Reliable Suppliers


  1. Penetration Inability
  2. Weak Interior Quality
  3. Government Intervention 
  4. Diversification in the workforce
  5. Weak Managerial & Labour Relationship


  1. Collaborations
  2. Technological Developments
  3. Immense Production Potential 
  4. LPG Version of Cost-Effective Hatchbacks


  1. Controversies
  2. Intense Competition
  3. Fall in Market Share 
  4. Cost and Expenses

How to apply for Popular Vehicles & Services Ltd. IPO?

You can apply for the Popular Vehicles & Services Ltd. IPO in these ways:

Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

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Popular Vehicles & Services Ltd. IPO FAQs

What are the opening and closing dates for Popular Vehicles & Services Limited?

Popular Vehicles & Services Limited IPO will open for subscription on March 12, 2024 and close on March 14, 2024.

What is the price per share for Popular Vehicles & Services Limited?

The price band for Popular Vehicles & Services Limited is ₹280 to ₹295 per share.

What is the minimum and maximum lot size for Popular Vehicles & Services Limited?

The minimum lot size is 50 shares. 

Who are Popular Vehicles & Services Limited's Lead Managers?

ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited are the Book Running Lead Managers (BRLM) to the issue.

Who is the registrar of the issue?

Link Intime India Private Limited is the registrar for Popular Vehicles & Services Limited.

When will the Popular Vehicles & Services Limited allotment take place?

The finalization of the basis of allotment for Popular Vehicles & Services Limited will be done on March 15, 2024, and the allotted shares will be credited to investors’ demat accounts by March 18, 2024.

When and where will the Popular Vehicles & Services Limited shares be listed?

The equity shares of Popular Vehicles & Services Limited are proposed to be listed on March 19, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).


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