Registered Office:
Kuttukaran Centre,Mamangalam Cochin,
Ernakulam - 682025,
Kerala, India.
Phone : 91-484-2341 134
Fax : NA
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
Opens On
Closes On
Application
Allotment
12-Mar-24
14-Mar-24
295.00-0.00
0.00-0.00
Minimum Application for shares in Nos :
50
Further Multiples of :
50
(Rs.Cr)
Lead Managers to the Issue
Project Cost
228.99
Centrum Capital Ltd
Project Financed through Current Offer
601.55
Post Issue Equity Share Capital
14.24
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