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Popular Vehicles Services IPO
Price Band
₹280.0–295.0
Issue Size
₹601.55 Cr
Lot Size
50 shares
Min Investment
₹14,750
GMP
—
Issue Price
₹295.0
Popular Vehicles Services IPO AI Summary
- Popular Vehicles Services IPO is listed on BSE, NSE in the Auto-Dealer sector.
- Price band: ₹280.0–₹295.0 per share, lot size 50 shares (min. investment ₹14,750).
- Subscription window: 12 Mar–14 Mar 2024, listing on 19 Mar 2024.
Popular Vehicles and Services Limited is an established player in the automobile dealership sector, offering a wide range of services and products. With a growing income and profit trajectory, the company is looking to utilize the proceeds from its IPO for debt repayment and general corporate purposes. Investors should consider their risk appetite and investment strategy before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Popular Vehicles Services IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 Mar 2024 — not a current signal.
6 of 7 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Popular Vehicles Services IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 1983, Popular Vehicles and Services Limited is engaged in the business of automobile dealerships in India. Popular Vehicles provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales. The company's business can be divided into three segments Passenger vehicles including luxury vehicles, Commercial vehicles and Electric two-wheeler and three-wheeler vehicles The company currently operates through a vast network consisting of 59 showrooms, 126 sales outlets and booking offices, 31 pre-owned vehicle showrooms and outlets, 134 authorized service centres, 40 retail outlets, and 24 warehouses across 14 districts of Kerala, eight districts in Karnataka, 12 districts in Tamil Nadu, and seven districts in Maharashtra. In addition to its showrooms, the sales outlets and booking offices facilitate its sales, whereas the retail outlets are responsible for selling and distributing spare parts and accessories. In FY 2023, the company serviced 791,360 vehicles - 5,212 luxury, 163,013 commercial, 1,918 electric two-wheeler, and 857 electric three-wheeler vehicles - through 130 authorized service centres across dealerships. The company's PAT increased from ₹324.55 million in Fiscal 2021 to ₹640.74 million in Fiscal 2023. The company's total income for Fiscals 2021, 2022, and 2023 was ₹29,192.52 million, ₹34,841.99 million, and ₹48,926.28 million, respectively. As of July 31, 2023, the company had 10,275 employees.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 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 |
Key Ratios
EPS
₹10.22
NAV
₹61.26
ROE
10.42%
ROCE
8.83%
RoNW
10.42%
P/B Value
4.82
P/E Ratio
28.88
Market Cap
₹2100.28 Cr
PAT Margin
1.41%
Debt/Equity
1.99
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Landmark Cars Limited | 118.55 | 18.04% | 34.84 | 22.56 | 21.74 |
| Popular Vehicles & Services Limited This IPO | 54.69 | 18.68% | — | 10.22 | 10.22 |
Promoters
John K.Paul, Francis K.Paul and Naveen Philip
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/or prepayment, in full or part, of certain borrowings, availed by our Company and certain of our Subsidiaries, namely, PAWL, PMMIL, KGPL, KCPL and PMPL 192.00 2 General corporate purposes 36.99
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income grew from ₹2,919.25 Cr in the year ending 31 Mar 2021 to ₹3,484.20 Cr by 31 Mar 2022, and further increased to ₹4,892.63 Cr by 31 Mar 2023. However, for the most recent period ending 30 Sep 2023, total income was ₹2,848.21 Cr, which is lower than the previous full year figure, though this is a 6-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax (PAT) rose from ₹32.46 Cr in the year ending 31 Mar 2021 to ₹33.67 Cr by 31 Mar 2022, and then increased significantly to ₹64.07 Cr by 31 Mar 2023. In the most recent period ending 30 Sep 2023, PAT was ₹40.04 Cr, which is lower than the previous full year figure, though this is a 6-month figure, not a full year, so isn't directly comparable.
Valuation
The company's implied P/E ratio at the issue price of ₹295.0 is approximately 28.88, compared to peers trading at a P/E of 34.84.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It indicates the expected listing price of the shares based on demand and supply in the grey market. A positive GMP suggests that the shares might list at a premium, while a negative GMP indicates a potential discount.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. Consideration of the company's financial health, market position, and growth potential is essential.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable and established companies may want to avoid IPOs like this, which can be subject to high volatility and uncertainty in the initial trading period.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may list at a premium, others may not perform as expected due to market conditions or investor sentiment. It's important to remember that past performance is not indicative of future results.
This evaluation is generated from Popular Vehicles Services's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Popular Vehicles Services IPO?
The price band of Popular Vehicles Services IPO is ₹280.0–₹295.0 per share.
When does Popular Vehicles Services IPO open and close?
Popular Vehicles Services IPO opens on 12 March 2024 and closes on 14 March 2024.
When does Popular Vehicles Services IPO list on the stock exchange?
Popular Vehicles Services IPO listed on 19 March 2024 at ₹295.0.
What is the lot size for Popular Vehicles Services IPO?
The lot size for Popular Vehicles Services IPO is 50 shares, requiring a minimum investment of ₹14,750.
What is the lot size for this IPO?
The lot size for Popular Vehicles and Services IPO is 50 shares.
What is the minimum investment required?
The minimum investment required is ₹14,750.
What is the price band for the IPO?
The price band for the IPO is ₹280.0 to ₹295.0.
When does the IPO open and close?
The IPO opens on March 12, 2024, and closes on March 14, 2024.
When is the listing date?
The listing date for the IPO is March 19, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Mar 2024
Close
14 Mar 2024
Allotment
15 Mar 2024
Listing
19 Mar 2024
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