Popular Vehicles IPO: Popular Vehicles & Services Limited’s initial public offering (IPO) commenced today and will continue to accept subscriptions until March 14, 2024, or this Thursday. This indicates that subscriptions for the Popular Vehicles IPO will be available Tuesday through Thursday of this week. The Popular Vehicles IPO pricing range has been set by the auto dealer company at ₹280 to ₹295 per equity share.

By going public, the book build issue hopes to raise ₹611.55 crore. It is suggested that the first offer be listed on the BSE and NSE. Shares of Popular Vehicles are trading on the black market ahead of the IPO subscription opening date. Popular Vehicles IPO begins today; see GMP, review, subscription status, and further information. Should I apply or not?

The much-anticipated initial public offering (IPO) of Popular Vehicles & Services Limited has officially commenced today and is set to conclude on March 14, 2024. The IPO, which aims to raise ₹601.55 crore, has garnered significant attention from investors across the board. Here’s a comprehensive overview of the key details and analysis surrounding the Popular Vehicles IPO:

1. Price Band: Popular Vehicles has set the price band for its IPO at ₹280 to ₹295 per equity share, making it an attractive proposition for potential investors.

2. Subscription Status: As of midday on the opening day, the IPO has been subscribed 0.16 times overall, with the retail portion oversubscribed at 0.29 times. However, the non-institutional investor segment has seen relatively lower subscription levels at 0.05 times.

3. IPO Size: The IPO consists of a combination of fresh shares and an Offer for Sale (OFS), with the company aiming to raise ₹601.55 crore. Notably, ₹250 crore will be raised through the issuance of fresh shares, while the remaining ₹351.55 crore is reserved for the OFS.

4. Lot Size: Investors can apply for the IPO in lots, with each lot comprising 50 shares of Popular Vehicles.

5. Allotment Date: The finalization of share allocation is expected to take place on March 15, 2024, providing investors with clarity on their allotment status.

6. Registrar: Link Intime Private Limited has been appointed as the official registrar of the Popular Vehicles IPO, ensuring a streamlined process for investors.

7. Listing: The IPO is slated for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), further enhancing its visibility and accessibility to investors.

8. Listing Date: The share listing is anticipated to occur on March 19, 2024, marking an important milestone for popular vehicles.

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Investment Recommendation: Analysts have weighed in on the IPO, offering varying perspectives on its potential. BP Equities has recommended a “subscribe” rating, citing the company’s robust financial performance and reasonable valuation. Similarly, Ventura Securities has endorsed a’subscribe’ tag, highlighting Popular Vehicles’ extensive network and market presence across multiple segments. Canara Bank Securities and Sushil Finance have also expressed positive sentiments towards the IPO, further bolstering investor confidence.

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Conclusion: With its promising financials, strategic positioning, and positive analyst recommendations, the Popular Vehicles IPO presents an intriguing investment opportunity for discerning investors. However, individuals are advised to conduct thorough due diligence and consult with financial experts before making any investment decisions.

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