Know the details before investing in Popular Vehicles & Services IPO
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Popular Vehicles & Services IPO: The IPO of Popular Vehicles and Services, which is engaged in the field of vehicle dealership, is going to open for retail customers in the market from tomorrow. The company is trying to collect Rs 601.55 crore through IPO. Popular Vehicles and Services provides services to many big companies including Tata Motors. Retail customers can bid for this IPO from March 12 to March 14. Whereas, today the company is giving a special opportunity to anchor investors to bid. The company has fixed the price band for its IPO between Rs 280 to Rs 295 per share. In IPO, retail investors are allowed to invest in a minimum lot of 50 shares and a maximum of 13 lots.
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What are the details of IPO?
Popular Vehicles & Services is a leading automotive dealership company in Kerala. This company deals with the maintenance of passenger, commercial and electric two-three wheeler vehicles. The company was established in 1983. In this IPO, 50 percent share has been reserved for Qualified Institutional Buyers (QIB), 35 percent share for Retail Investors (RI) and 15 percent share for High Net Individuals (HNI).
How much will have to be invested
Popular Vehicles & Services IPO 50 shares have been included in one lot. Retail investors must apply for at least one lot. This means that at least Rs 14,750 will have to be invested. 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). This means that he will have to invest at least Rs 10,03,000 in the company.
What will the company do with the money?
The amount received from the sale of new shares will be used for loan repayment and general company functioning.
When will the allotment of shares take place?
The allotment of shares will be done on March 15. Whereas, the refund process will start on March 18. The stock will be updated in the demat account of the shareholders on the same day.
When will the listing happen?
The company is going to be listed on the main board. Its listing is likely to happen on March 19.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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