March 12, 2023
New Delhi, India
Popular Vehicles IPO
The initial public offering (IPO) of Popular Vehicles & Services Limited has commenced today, offering investors an opportunity to participate in the auto dealer company’s growth trajectory. With a fixed price band and subscription period, investors are evaluating whether to apply for the IPO.
Key Details:
- Grey Market Premium (GMP): Market observers report that Popular Vehicles IPO shares are trading at a premium of ₹26 in the grey market, indicating investor interest in the offering.
- Price Band: The IPO price band is set at ₹280 to ₹295 per equity share, providing investors with a range to consider for their investment decision.
- Subscription Period: The book build issue is open for subscription from today until 14th March 2024. Investors have until Thursday to participate in the IPO.
- Offer Details: Popular Vehicles IPO comprises a combination of fresh shares and Offer for Sale (OFS), aiming to raise ₹601.55 crore. Of the total, ₹250 crore will be generated through the issuance of new shares, with the remaining ₹351.55 crore designated for the Offer For Sale (OFS).
- Lot Size: Investors can apply for the IPO in lots, with one lot comprising 50 shares of the automobile retailer company.
- Allotment Date: Share allocation is expected to be finalized on 15th March 2024, providing clarity to investors regarding their investment in Popular Vehicles IPO.
- Registrar: Link Intime Private Limited is appointed as the official registrar for the IPO, overseeing the allocation process.
- Listing Details: The IPO is proposed for listing on both BSE and NSE, offering investors access to the company’s shares on prominent stock exchanges.
- Listing Date: The anticipated listing date for Popular Vehicles IPO shares is 19th March 2024, marking the commencement of trading on the stock exchanges.
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Subscription Status:
By 1:12 PM on the first day of bidding, the public issue had garnered a subscription of 0.18 times, with the retail portion oversubscribed at 0.32 times. However, the NII segment subscribed 0.05 times, while the employees’ segment received bids equivalent to 2.76 times the initial offer.
Conclusion:
The Popular Vehicles IPO presents investors with an opportunity to participate in the growth potential of the auto dealer company. With a defined price band, subscription period, and offer details, investors can assess whether to apply for the IPO based on their investment objectives and market conditions.
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Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
