Popular Vehicles and Services is into Automobile Auto-Dealer and is looking raise funds through Fresh Issue and Offer For Sale
Popular Vehicles and Services IPO Update:
Popular Vehicles And Services Limited IPO: Cochin based Popular Vehicles and Services Limited established in the year 1983 and is into Automobile - Auto-Dealer sector.
Company is promoted by John K. Paul, Francis K. Paul and Naveen Philip. Pre-Offer Promoter and Promoter group stake in the company is 69.45%.
Popular Vehicles and Services Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 250 Cr and an Offer for Sale of up to 14,275,401 Equity Shares ICICI Securities, Nuvama Wealth Management, Centrum Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 280 to Rs 295 with lot size of 50 shares and in multiples thereof. Objects of the issue is 1) Repayment and/or pre-payment, in full or part of borrowings by the company and its subsidiaries - Rs. 192 cr., and 2) General Corporate Purpose.
IPO Dates:
IPO will open on March 12, 2024 and close on March 12, 2024. Tentative date of listing on stock exchanges is March 19, 2024
Want to know more details about the IPO, please visit here Popular Vehicles and Services Limited
Source: SEBI, BSE, NSE, DRHP, Popular Vehicles and Services, Industry Data
Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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