The much-anticipated moment has arrived as Popular Vehicles & Services Limited opens its doors to the public with its Initial Public Offering (IPO) today. This exclusive opportunity for investors will be available until Thursday, 14th March 2024. Let’s dive into the details surrounding the Popular Vehicles IPO, exploring its price band, subscription status, and critical aspects investors should consider.
Popular Vehicles IPO Details Unveiled
1. Popular Vehicles IPO Price Band: Unveiling the Value
Investors are in for a ride as the auto dealer sets the Popular Vehicles IPO price band between ₹280 to ₹295 per equity share, promising an enticing investment journey.
2. The Book Build Issue: Aiming for Heights
The book build issue is on a mission to raise a substantial ₹601.55 crores from this IPO venture. The company strategically targets listings on both BSE and NSE, offering a diverse platform for potential investors.
3. GMP Buzz: Grey Market Premium Today
Even before the subscription doors swung open, market observers noted a Grey Market Premium (GMP) of ₹26. This early buzz suggests a promising venture awaiting investors in Popular Vehicles IPO.
Popular Vehicles IPO Subscription Status Update
1. Subscriptions So Far: A Quick Overview
By 11:09 AM on the first day of bidding, the public issue had already garnered attention, with an overall subscription rate of 0.11 times. Delving deeper, the retail and NII portions clocked in at 0.20 and 0.04 times, respectively. Notably, the employees’ segment saw full subscription at 1.80 times the initial offer.
Unveiling Key Dates and Numbers
1. IPO Allotment: The Waiting Game
Investors keen on the Popular Vehicles IPO can anticipate share allocation finalization on 15th March 2024, offering clarity on their investment journey.
2. Registrar Matters: Link Intime Takes Charge
To ensure a smooth process, Link Intime Private Limited has been appointed as the official registrar for the Popular Vehicles IPO.
3. Listing Day: Mark Your Calendar
The book build issue is slated for listing on both BSE and NSE, with the expected listing date set for 19th March 2024. Investors, mark your calendars!
Is Popular Vehicles IPO a Golden Opportunity? Let’s Review
1. BP Equities Weighs In: A Thumbs-Up for Investors
According to BP Equities, Popular Vehicles exhibits stellar financial performance, with Revenue/EBITDA/PAT growing at an impressive CAGR of 29.8%/20.7%/40.6% from FY2021-23. Valued at a P/E of 28.9x based on FY2023 earnings, BP Equities recommends a resounding “Subscribe” rating for the issue.
2. Expert Opinions: A Consensus Emerges
Ventura Securities and Canara Bank Securities join the chorus, both giving a ‘subscribe’ tag to the book build issue. Sushil Finance takes a slightly more cautious stance, suggesting investors ‘may apply’ to this exciting mainboard IPO.
Frequently Asked Questions (FAQs)
1. How Many Shares in a Lot?
A bidder can apply in lots, with each comprising 50 shares of the automobile retailer company.
2. What is the IPO Lot Size?
The Popular Vehicles IPO is a combination of fresh shares and an Offer for Sale (OFS), aiming to raise ₹601.55 crores, with ₹250 crores from fresh shares and the remaining ₹351.55 crores reserved for OFS.
3. Who Oversees IPO Allocations?
Link Intime Private Limited takes on the crucial role of the official registrar for the Popular Vehicles IPO, ensuring a transparent and efficient allocation process.
4. When Will Share Allotments Be Finalized?
The anticipated date for the finalization of share allocation is 15th March 2024, bringing clarity to eager investors.
5. What’s the IPO Listing Date?
Popular Vehicles IPO is expected to hit the market on 19th March 2024, offering investors a chance to participate in this exciting venture.
6. What is the IPO’s Value Proposition?
With a growth-focused financial performance, a vast network, and a strategic positioning in key regions, Popular Vehicles IPO emerges as an appealing opportunity for investors.
Conclusion: To Apply or Not? The Verdict Is Yours!
As the Popular Vehicles IPO journey unfolds, the verdict rests in the hands of investors. With expert recommendations leaning towards a positive outlook, the IPO promises a lucrative opportunity for those looking to ride the wave of success in the automotive industry. Mark your calendars, make informed decisions, and decide – apply or not? The choice is yours!
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