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Popular Vehicles IPO Subscription Status
On 14 March 2024 5.00 pm (Day 3)(Closed)
Review: Market weakness has affected subscriptions.
QIB:            3970461  Shares     1.92 T
NII(10L+):   2080993  Shares     0.67 T
NII (<10L)  1040497  Shares      0.68 T
NII (Total)   3121490  Shares     0.67 T
RII:             7283477  Shares      1.05 T
Empl               39682 Shares      8.04 T
Total:        17415110  Shares      1.25 T

Popular Vehicles IPO Guidance
(IPO opens on 12 March, Closes on 14 March)
Popular Vehicles is a diversified automobile dealership in India in terms of revenue as of Fiscal 2023, having a fully integrated business model. It caters to the complete life cycle of vehicle ownership, right from the sale of new vehicles, servicing and repairing vehicles, distributing spare parts and accessories, to facilitating sale and exchange of pre-owned vehicles, operating driving schools and facilitating the sale of third-party financial and insurance products. The company categorizes its automobile dealership business into three key segments, namely, (a)passenger vehicles including luxury vehicles, (b) commercial vehicles and (c) electric two-wheeler and three-wheeler vehicles, which contributed to its revenue from operations aggregating to Rs.16,918.51million, Rs.9,616.33 million and Rs.450.41 million, respectively, during the six months period ended September 30, 2023.
It operates (a) passenger vehicle dealerships covering economy, premium and luxury vehicles across its dealerships for the following OEMs: (i) Maruti Suzuki India Limited (“Maruti Suzuki”) for both Arena and Nexa, through our Company,(ii) Honda Cars India Limited (“Honda”) through its Subsidiary, VMPL, and (iii) Jaguar Land Rover India Limited (“JLR”) through its Subsidiary, PAWL; (b) commercial vehicle dealerships of (i) Tata Motors Limited (“Tata Motors (Commercial)”), through its Subsidiary, PMMIL and (ii) Daimler India Commercial Vehicles Private Limited (“Bharat Benz”), through its Subsidiary, PMPL; and (c) electric three-wheeler vehicle dealership of Piaggio Vehicles Private Limited, including commercial and cargo vehicles (“Piaggio”), through its Subsidiary, KGPL and electric two-wheeler vehicle dealership of Ather Energy Private Limited (“Ather”), through its Subsidiary.
As of December 31, 2023, it operated through its network of 61 showrooms, 133 sales outlets and booking offices, 32 pre-owned vehicle showrooms and outlets, 139 authorised service centres, 43 retail outlets, and 24 warehouses located across 14 districts of Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu and 9 districts in Maharashtra. While its sales outlets and booking offices complement its sales through its showrooms, our retail outlets facilitate sale and distribution of spare parts and accessories.
Size: The size of the IPO net of Anchor portion is just Rs. 425.25 Cr. HNI portion is Rs. 92.08 Cr and Retail portion is only Rs. 214.86 Cr. So the IPO will get oversubscribed very smoothly.
Financials and Guidance: The company has strong financials and balancesheet. Very strong debt equity ratio. Important aspect is its growth potential. Compared to USA and other developed countries, in India, vehicle population per 1000 persons is very low and the business has strong growth potential in the next 10 years. The shares are offered at very attractive valuation and there is room for listing gains. The shares are expected to give strong returns in the next 9 months post-listing. Apply.

Popular Vehicles Company Details
Popular Vehicles is a diversified automobiledealership in India in terms of revenueas of Fiscal 2023, havinga fully integrated business model. It caters to thecomplete life cycle of vehicle ownership, right from the sale ofnew vehicles, servicing andrepairing vehicles, distributing spare parts and accessories, to facilitating sale andexchange of pre-owned vehicles, operating driving schools and facilitatingthe sale of third-party financial and insurance products. We categorise our automobile dealershipbusiness into threekey segments, namely, (a)passenger vehicles including luxury vehicles, (b) commercial vehicles and (c) electric two-wheeler and three-wheeler vehicles, which contributed to its revenue from operations aggregatingto Rs.16,918.51million, Rs.9,616.33 million and Rs.450.41 million, respectively, during the six months period ended September 30, 2023.
It operates (a) passenger vehicle dealershipscovering economy, premium and luxury vehicles across its dealerships for the following OEMs: (i) Maruti Suzuki India Limited (“Maruti Suzuki”) for both Arena and Nexa, through our Company,(ii) Honda Cars India Limited (“Honda”) through its Subsidiary, VMPL, and (iii) Jaguar Land Rover India Limited (“JLR”) through its Subsidiary, PAWL; (b) commercial vehicle dealerships of (i) Tata Motors Limited (“Tata Motors (Commercial)”), through its Subsidiary, PMMIL and (ii) Daimler India Commercial Vehicles Private Limited (“BharatBenz”), through its Subsidiary, PMPL; and (c) electric three-wheeler vehicle dealership of Piaggio Vehicles Private Limited, including commercial and cargo vehicles (“Piaggio”), through its Subsidiary, KGPL and electric two-wheeler vehicle dealership of Ather Energy Private Limited (“Ather”), through its Subsidiary.
As a diversified and fully integrated automotive dealership company, it caters to the complete life-cycle of vehicle ownership, right from operating driving schools, retailing new vehicles, servicing and repairing vehicles, distributing spare parts, to facilitating sale or exchange of pre-owned vehicles and facilitation of sale of third-party financial and insurance products.
Its profit after tax registered a growth from Rs 213.74 million in FY 2019 to Rs 324.55 million in FY 2021.
As of December 31, 2023, it operated through its network of 61 showrooms, 133 sales outlets and booking offices, 32 pre-owned vehicle showrooms and outlets, 139 authorised service centres, 43 retail outlets, and 24 warehouses located across 14 districts of Kerala, 8 districts in Karnataka, 12 districts in Tamil Nadu and 9 districts in Maharashtra. While its sales outlets and booking offices complement its sales through its showrooms, our retail outlets facilitate sale and distribution of spare parts and accessories.

For more information, click www.popularmaruti.com

The Promoters of Popular Vehicles
John K. Paul, Francis K. Paul & Naveen Philip

Popular Vehicles IPO Main Objects
The Offer comprises of the Fresh Issue and Offer for Sale.
TheCompany proposes to utilise the Net Proceeds towards Repayment and/or pre-payment, in full or part, of certain borrowings, including working capital loans, availed by the Company and PAPL, PMMPL and VMPL, its Subsidiaries;

Popular Vehicles IPO Details
IPO opens on 12 March 2024
IPO closes on 14 March 2024
Issue Type: Book Built Issue IPO
Issue :
up to 20391651 Shares /Rs 601.55 Crore
* Fresh Issue of 8474576 Sh/ Rs.250 Cr
* Offer for Sale Up to 11917075 Sh/ Rs. 351.55Cr

Face Value per share : Rs. 2

Popular Vehicles IPO Price Band Per Equity Share: Rs. 280-295
Popular Vehicles IPO Retail Lot Size 50 Shares
Popular Vehicles Listing will at BSE,NSE

Shares offered to
QIB (50%) ?Shares = Rs 300.28 Cr
NII (15%) ?Shares =  Rs   90.08 Cr
RII (35%) ? Shares = Rs 210.19 Cr
Empl:     37453 Shares/ Rs.1 Cr.
Lot size: 50 Shares = 142502 Forms
Min Retail Application : 50 Sh , Rs. 14750
Max Retail Application : 650 Sh, Rs 191750
Min SHNI Application 700 Sh. Rs. 206500
Max SHNI Application 3350 Sh Rs. 988250
Min BHNI Application 3400 Sh. Rs. 1003000

Popular Vehicles IPO Tentative timetable
Allotment on 15 March 2024
Unblocking of ASBA 18 March 2024
Credit to Demat Accounts 18 March 2024
Popular Vehicles Listing on 19 March 2024

Popular Vehicles IPO Financial & Analytical Ratios
Earnings per Share 2020-21,Rs 5.17
Earnings per Share 2021-22 Rs.5.37
Earnings per Share 2022-23 Rs.10.22
Book Value of the Share as on 31.3.2023 Rs 54.69
Return on Net Worth: 20-21: 13.19 %
Return on Net Worth: 21-22 12.03 %
Return on Net Worth: 22-23 18.68 %

Ratio Analysis
Upper Price Band/last EPS: 28.86
Upper offer price/Book Value Ratio 5.39

Popular Vehicles IPO Peer Comparison:
Popular Cars     Income Rs. 4875 Cr, PE 28.86
Landmark Cars Income Rs. 3382 Cr, PE 34.84

Popular Vehicles IPO Lead Managers
Axis Capital, DAM Capital Advisors, Centrum Capital
Registrar to Popular Vehicles IPO
Linkintime India pvt ltd.

Registered Office of Popular Vehicles
Kuttukaran Centre, Mamangalam, Cochin, Ernakulam 682 025, Kerala
Company Secretary & Compliance Officer : Varun T.V

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