Popular Automobiles & Services Limited IPO: All you need to know

The initial public offering (IPO) of Popular Automobiles & Services will open up for subscription on March 12, 2024. Â.

The noticeable player in the vehicle sector is looking to raise Rs 601.55 crore via the IPO. The offering comprises a fresh concern of 85 lakh shares, totaling up to Rs 250.00 crore, along with a sell of 1.19 crore shares, valued at Rs 351.55 crore.

Read- JG Chemicals sets Rs 210-221 price band for Rs 251-crore IPO

Potential capitalists can register for the public problem till March 14, 2024, with the allotment procedure anticipated in conclusion on Friday, March 15, 2024.

The firm anticipates its shares to be detailed on both the Bombay Stock Market (BSE) and the National Stock Market (NSE) tentatively by Tuesday, March 19, 2024.

Financiers eyeing this offering will locate the rate band set between Rs 280 to Rs 295 per share, with the minimum great deal size dealt with at 50 shares.
For retail investors, the entry point needs an investment of at least Rs 14,750. Nonetheless, for Non-Institutional Financiers (NII), the minimal lot dimension stands at 14 great deals (700 shares), amounting to Rs 206,500, while for Certified Institutional Buyers (QIB), it’s 68 great deals (3,400 shares), amounting to Rs 1,003,000.

The duty of managing this IPO falls on the shoulders of ICICI Securities Limited, Nuvama Riches Monitoring Limited, and Centrum Funding Limited, functioning as guide running lead managers. At The Same Time, Web Link Intime India Private Ltd is readied to oversee the registrar duties for the problem.

Proceeds from the IPO will mainly be utilised for the payment and/or pre-payment of certain borrowings embarked on by Popular Autos & Providers and its subsidiaries, specifically, VMPL, PAWL, PMMIL, KGPL, KCPL, and PMPL. Furthermore, funds will be designated for basic corporate purposes.

Latest GMP for Popular Autos & Services IPO.

The Grey Market Premium (GMP) for the Popular Autos & Solutions IPO, since the last update on March 8th, 2024, stands at Rs 33. This suggests the costs at which the shares are trading unofficially before their main listing on the stock exchange.

Thinking about the cost band of Rs 295 set for the IPO, and adding today’s GMP of Rs 33, the approximated listing cost for Popular Automobiles & Solutions IPO is calculated to be Rs 328 per share.Â.

Based upon this evaluation, the expected percentage gain per share at the time of listing would be roughly 11.19 percent.

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