Popular Vehicles & Services Ltd - IPO

Popular Vehicles & Services Ltd IPO Details

Initial public offer of 20,393,828 equity shares of face value of Rs. 2 each (Equity Shares) of Popular Vehicles and Services Limited (Company) for cash at a price of Rs. 295 per equity share (including a share premium of Rs. 293 per equity share) (Offer Price) aggregating to Rs. 601.55 crores comprising a fresh issue of 8,476,753 equity shares aggregating to Rs. 250.00 crores by the company (Fresh Issue) and an offer for sale of 11,917,075 equity shares aggregating to Rs. 351.55 crores by Banyantree Growth Capital ii, llc (the Selling Shareholder) and such equity shares offered by the selling shareholder (Offer for Sale, and together with the fresh issue, the Offer). The offer included a reservation of 37,453 equity shares*, aggregating up to Rs. 1.00 crores (constituting 0.05% of the post-offer paid-up equity share capital*), for subscription by eligible employees (Employee Reservation Portion). Pursuant to finalization of basis allotment 22,950 equity shares allotted to eligible employees under the employess reservation portion. The company, in consultation with the brlms, offred a discount of 9.49% of the offer price 9Equivalent to Rs. 28 per equity share) to eligible employees bidding in the employee reservation portion (Employee Discont). The offer less the employee reservation portion is hereinafter referred to as the Net Offer. The offer and the net offer constituted 28.64% and 28.61 respectively, of the post-offred paid-up equity share capital of the company.Anchor investor offer Price is Rs. 295 per equity share of face value of Rs. 2 each.Offer Price: Rs. 295^ per equity share of the face value of Rs. 2 each.The offer price is 147.50 times the face value of the equity shares. ^A discount of Rs. 28 per equity share was offered to eligible employees bidding in the employee reservation portion

Objective of issue

Repayment and/or pre-payment in full or part of certain borrowings availed by the company and certain of its subsidiaries namely VMPL, PAWL,PMMIL,KGPL,KCPL and PMPL. General corporate purposes.

Popular Vehicles & Services Ltd Contact Details

Popular Vehicles & Services Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - cs@popularv.com

Website - www.popularmaruti.com