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Get ready for some big news in the automotive industry! Popular Vehicles and Services Ltd is all set to debut its Initial Public Offering (IPO) on March 12. If you’re wondering what this means for you, we’ve got you covered with all the details.
Popular Vehicles and Services Ltd, a prominent player in the automotive dealership sector, is gearing up for its IPO launch. The IPO will kick off on March 12 and run until March 14. But wait, there’s more! Before the IPO begins, there will be a special bidding session for anchor investors on March 11. Here’s a breakdown of what you need to know:
About the IPO
- Dates:
- IPO Launch: March 12th, 2024
- IPO Closing: March 14th, 2024
- Bidding for Anchor Investors: March 11th, 2024 (one day only)
- Offer Structure:
- Fresh Issue: Rs 250 crore
- Offer for Sale (OFS): 1.19 crore equity shares by Banyan Tree Growth Capital II, LLC
- Purpose of the Issue: Funds raised through the fresh issue will be used for debt repayment and general corporate purposes.
- Company Background:
- Leading diversified automotive dealership in India
- Extensive experience across the automotive retail value chain
- Operations include:
- Sale of new passenger and commercial vehicles
- Servicing and repairs
- Spare parts distribution
- Pre-owned passenger vehicle sales
- Facilitation of third-party financial and insurance products
- Dealerships for:
- Passenger vehicles: Maruti Suzuki, Honda, JLR
- Commercial vehicles: Tata Motors
- Book Running Lead Managers: ICICI Securities, Nuvama Wealth Management, Centrum Capital
- Listing: BSE and NSE
What This Means for You
The IPO of Popular Vehicles & Services presents an opportunity for investors to participate in the growth of a well-established player in the Indian automotive market. The company boasts a diverse portfolio and a strong presence across various segments of the industry, making it an interesting option for those looking to diversify their investment portfolio.
Stay Informed
As the IPO date approaches, keep an eye out for further updates on the company’s website and financial news channels for detailed information about the offer document, application process, and other relevant details. Remember, thorough research and due diligence are crucial before making any investment decisions.
News Source: zeebiz.com
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