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.

Popular Vehicles & Services IPO is a book built issue of Rs 601.55 crores. The issue is a combination of fresh issue of 0.85 crore shares aggregating to Rs 250.00 crores and offer for sale of 1.19 crore shares aggregating to Rs 351.55 crores.

Popular Vehicles & Services IPO opens for subscription on March 12, 2024 and closes on March 14, 2024. The allotment for the Popular Vehicles & Services IPO is expected to be finalized on Friday, March 15, 2024. Popular Vehicles & Services IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, March 19, 2024.

Popular Vehicles & Services IPO price band is set at ₹280 to ₹295 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹14,750. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹206,500, and for bNII, it is 68 lots (3,400 shares), amounting to ₹1,003,000.

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