Popular Vehicles and Services IPO GMP, Price & Details 2021

Popular Vehicles and Services Limited are India’s largest diversified automotive dealership In terms of revenue, with an existence throughout the automotive retail value chain. Popular Vehicles and Services IPO will hit the market in October 2021.

About

Popular Vehicles and Services Limited serve in segments such as new passenger and commercial vehicle sales, assistance and repairs, spare parts delivery, pre-owned passenger vehicle sales, and the coordination of third-party financial and insurance product sales.

They run Maruti Suzuki India Limited (“Maruti Suzuki”), Honda Cars India Limited (“Honda”), and Jaguar Land Rover India Limited (“JLR”) passenger car dealerships, as well as Tata Motors Limited’s commercial vehicle dealership (“Tata Motors (Commercial)”).

Footprints

As of March 31, 2021, They were the sixth biggest passenger vehicle dealership organisation for Maruti Suzuki, the fifth biggest passenger vehicle dealership organisation for JLR, the sixth biggest passenger vehicle dealership organisation for Honda, and the third biggest commercial vehicle dealership organisation for Tata Motors (Commercial).

They serve the entire life-cycle of vehicle ownership as a diversified and completely integrated automotive dealership firm, from running driving schools to selling new vehicles, maintenance and repairing automobiles, supplying spare parts, and supporting the sale or exchange of pre-owned vehicles, as well as the sale of third-party financial and insurance products.

Operation

As of March 31, 2021, we have 59 showrooms, 99 sales outlets and booking offices, 83 authorised service facilities, 29 retail outlets, and 25 warehouses.

These are spread throughout all 14 districts of Kerala, as well as Bengaluru, Mysuru, Mangaluru, Hubballi, Hosapete, Vijayapur, and Shivamoga in Karnataka, and Chennai, Chengalpet, Dharmapuri, Krishnagiri, and Thiruvallur in Tamil Nadu.

Kerala and Tamil Nadu are two of the most important states in terms of passenger car sales in the country.

Kerala and Tamil Nadu contributed 11.50 percent of total passenger car sales and 13.00 percent of domestic commercial vehicle sales in India during the first nine months (9M) of FY 2021.

Subsidiaries

List of subsidiaries of Popular Vehicles and Services Limited:

• Popular Mega Motors (India) Private Limited — (Subsidiary)
• Popular Auto Dealers Private Limited (Subsidiary)
• Popular Auto Works Private Limited (Subsidiary)
• Kuttukaran Cars Private Limited (Subsidiary)
• Vision Motors Private Limited (Step — Down Subsidiary)
• Avita Insurance Broking LLP (Step — Down Subsidiary)
• Kuttukaran Green Private Limited (Step — Down Subsidiary)

Popular Vehicles and Services IPO

Popular Vehicles and Services Limited, headquartered in Cochin has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 150 Crore of Fresh issue and OFS 4,266,666 Equity shares on 05 August 2021.

The Offer includes fresh equity shares of 150 crores and an offer for sell(OFS) of 4,266,666 Equity shares by the promoters.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Originally published at https://profitmust.com on August 5, 2021.