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News Details

07/03/2024 07:00

Popular Vehicles announces launch of initial public offering

Popular Vehicles and Services Ltd. has announced public offering of 20391651 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 293.00 per share. The gross proceeds of the issue are expected to be Rs 60,155.37 lakhs.

The company's initial public offer (IPO) will open on 12 March 2024 and is expected to close on 14 March 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 280.00-295.00 per share.

The IPO includes a fresh Issue of 20391651 Equity Shares of the Company at an price of Rs 295.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 50 shares with bids in multiples of 50.

Popular Vehicles and Services Ltd. anticipates using the proceeds of the issue for .

ICICI SECURITIES LTD,CENTRUM CAPITAL LTD,Nuvama Wealth Management Ltd. as lead manager(s) & Link Intime India Pvt. Ltd. is the registrar, to the issue.