Popular Vehicles IPO Sees Moderate Demand on last day of IPO

14 Mar 2024 , 09:12 PM

The subscription period for the Popular Vehicles and Services IPO, which began on Tuesday, March 12, will end today, Thursday, March 14. In a generally slow market, the Popular Vehicles IPO proceeded slowly throughout the first two days, with the goal of being completely subscribed on the last day, which is today.

According to data published on BSE, the subscription status for the Popular Vehicles and Services IPO at 5:25 pm was 123%. While the employee segment has been oversubscribed 7.54 times, the retail segment was subscribed 105% and non-institutional investors (NII) segment was subscribed 66%. The QIB segment was oversubscribed 1.97 times.

On the second day, 20% of the NII portion was booked, 78% of the retail investors portion was subscribed to, and the Qualified Institutional Buyers (QIB) portion had not yet been booked. There were 6.16 times subscriptions for the employee component.

The IPO price range for Popular Vehicles was ₹280 to ₹295 for each share, with a face value of ₹2. Bids may be made for as few as five shares or as many as fifty.

Popular Vehicles provides all-inclusive services for the duration of a vehicle’s life cycle, including sales of new and used automobiles, maintenance, the provision of spare parts, driving training, and the third-party sale of financial and insurance products.

For feedback and suggestions, write to us at [e-mail]