Popular Vehicles & Services IPO Subscribed 1.24 times

About Popular Vehicles & Services IPO

Popular Vehicles & Services is set to launch its IPO worth Rs 601.55 crores, comprising mix of fresh issue & offer for sale. fresh issue involves 0.85 crore shares valued at Rs 250.00 crores, while offer for sale consists of 1.19 crore shares valued at Rs 351.55 crores. Investors had opportunity to subscribe to IPO from March 12, 2024, until today, March 14, 2024. Allotment of shares is expected to be finalized by Friday, March 15, 2024. IPO is slated to list on both BSE & NSE, tentatively scheduled for Tuesday, March 19, 2024.

The price band for Popular Vehicles & Services IPO is fixed at ₹280 to ₹295 per share. Investors are required to apply for minimum lot size of 50 shares. Retail investors must invest minimum amount of ₹14,750, while non-institutional investors need to adhere to different lot size requirements. sNII (Non-Institutional Investors) are mandated to invest minimum of 14 lots (700 shares), totaling ₹206,500, while bNII (Qualified Institutional Buyers) must invest at least 68 lots (3,400 shares), amounting to ₹1,003,000.

Furthermore, IPO includes provision for employee reservation, offering up to 37,453 shares at discounted rate of Rs 28 below issue price. This reservation scheme aims to provide employees with opportunity to participate in company's growth & success. Overall, IPO presents opportunity for investors to capitalize on Popular Vehicles & Services' potential growth & expansion plans, thereby diversifying their investment portfolios & potentially reaping favorable returns.

ICICI Securities Limited, Nuvama Wealth Management Limited & Centrum Capital Limited are book running lead managers of Popular Vehicles & Services IPO, while Link Intime India Private Ltd is registrar for issue.

Final Subscription Status of Popular Vehicles & Services IPO

Here is final subscription status of Popular Vehicles & Services Limited IPO as at close on by March 14, 2024 5:00 PM.

Total Application: 135,340

The subscription data for IPO indicates varied levels of interest across investor categories. Anchor Investors showed moderate interest, subscribing just once to offered shares. Qualified Institutions exhibited stronger interest with subscription of 1.92 times shares offered, indicating robust demand from institutional investors.

Non-Institutional Buyers, however, displayed lower subscription levels, with subscription rate of 0.67 times. This suggests comparatively muted interest from high net worth individuals (HNIs), particularly those bidding above ₹10 lakh (bNII) & below ₹10 lakh (sNII).

Retail Investors demonstrated higher subscription rate of 1.07 times, showcasing decent interest from individual investors. Employees showed highest subscription rate at 7.99 times, indicating strong participation from within company.

Overall, IPO garnered subscription rate of 1.24 times shares offered, suggesting moderate demand overall. However, performance varied across investor categories, with institutional investors showing stronger interest compared to non-institutional & retail investors. This suggests that while there is reasonable interest in IPO, demand may not be evenly distributed among all investor segments.

Popular Vehicles & Services Allocation Quota for Various Categories

Data Source: NSE

How subscription built up for Popular Vehicles & Services IPO?

As of 14 mar 24, 17:21

Key Takeaways Popular Vehicles & Services IPO

Here are key takeaways from subscription numbers on day-wise basis for Popular Vehicles & Services Ltd. as of close of IPO on 14th March 2024.

1. Gradual Increase in Interest: Subscription data shows gradual increase in investor interest over three-day subscription period. While Day 1 saw minimal subscription across all investor categories, there was notable uptick in subscription levels on Day 2, particularly from Non-Institutional Buyers (NII), Retail Investors, & Employees. This trend continued into Day 3, with significant surge in subscription rates across all categories, especially from Qualified Institutions, Retail Investors, & Employees.
2. Strong Retail & Employee Participation: Retail Investors & Employees demonstrated strong participation throughout subscription period. Retail investors showed consistent interest, with subscription rates increasing from 0.50 on Day 1 to 1.07 on Day 3, indicating growing retail investor confidence in IPO. Similarly, Employee subscription rates surged from 4.25 on Day 1 to 7.99 on Day 3, showcasing robust participation from within company.
3. Institutional Interest Peaks on Day 3: Qualified Institutional Buyers (QIBs) displayed significant increase in interest on Day 3, with subscription rates soaring to 1.92 times shares offered. This indicates heightened institutional investor confidence in IPO as subscription period progressed. Non-Institutional Buyers (NIIs) also witnessed notable increase in subscription levels, albeit to lesser extent compared to QIBs, highlighting diverse investor interest in IPO.