Investors eagerly awaiting the outcome of the Popular Vehicles and Services IPO allotment can now conveniently verify their status online. The allotment process is set to be finalized today (March 15).
The IPO subscription for Popular Vehicles and Services commenced on March 12 and concluded on March 14. Investors who participated in this offering can now anticipate the finalization of the basis of allotment, scheduled for today, March 15. Once completed, investors will receive notifications regarding the debit of funds or revocations of IPO mandate, typically over the weekend or by Monday.
Checking Allotment Status Online
To check the allotment status of Popular Vehicles and Services IPO, investors can conveniently visit the registrar’s website or the BSE (Bombay Stock Exchange) portal. By entering their application details such as PAN (Permanent Account Number) or application number, investors can promptly access their allotment status.
IPO Details Recap
During the IPO, Popular Vehicles and Services offered shares in the price band of ₹280-295 per share with a lot size of 50 shares. The company aimed to raise ₹601.55 crore through a combination of fresh issue and an offer-for-sale (OFS) of equity shares. Despite the company’s ambitious fundraising goals, the IPO garnered a muted response from investors.
Subscription Figures
The IPO subscription witnessed an overall subscription of 1.23 times, with qualified institutional bidders (QIBs) subscribing 1.97 times. Retail investors and employees showed moderate interest, with subscription figures of 1.05 times and 7.59 times, respectively. Non-institutional investors subscribed to 66% of the offered shares.
About Popular Vehicles and Services
Popular Vehicles and Services operates in the automobile dealership sector in India, providing comprehensive services throughout the vehicle ownership life cycle. The IPO was managed by book running lead managers Nuvama Wealth Management, Centrum Capital, and ICICI Securities, with Link Intime India serving as the registrar.
Listing Date and Expectations
Shares of Popular Vehicles and Services are anticipated to be listed on both the BSE and NSE (National Stock Exchange) on March 19, subject to regulatory approvals. With the allotment finalization today, investors eagerly await the commencement of trading on the bourses.
As investors eagerly await the outcome of the Popular Vehicles and Services IPO allotment, checking the status online provides clarity and ensures prompt action based on the allocation. With the listing date approaching, investors remain poised to seize opportunities presented by this debut in the stock market.
