Popular Vehicles and Services IPO allotment likely on March 15: A step-by-step guide to check status online

Popular Vehicles and Services IPO share allotment is expected to be finalised today, March 15.

The ₹601.55-crore initial public offer (IPO) was subscribed over 1.23 times at the end of bidding process on March 14. The multi-brand car showroom company received bids for over 1.78 crore shares against 1,44,15,110 shares on offer.

The employee allocation of the IPO was subscribed over 7.59 times whereas the retail and qualified institutional buyers (QIBs) portion got 1.05- and 1.97-times subscriptions. The non-institutional investors’ (NIIs) portion was booked only 66%.

Investors who bid for shares in Popular Vehicles and Services IPO can check their allotment status online through the official website of the registrar— Link Intime India Pvt. Ltd. The allotment status will also be updated on the official website of the National Stock Exchange (NSE).

Here’s how to check Popular Vehicles and Services IPO allotment status online

• Visit the official website of the IPO registrar, Link Intime India Pvt. Ltd at https://www.linkintime.co.in/
• Click on ‘Public Issue’
• From the drop-down list under the Investor Services section select company name as Popular Vehicles and Services Ltd.

Please note that the name will only appear after the finalisation of the shares allotment.

• Enter PAN/Application Number/ DP Client ID/ Account No/ IFSC as per your selection.
• Click on Submit.
• Allotment status will be displayed on your screen. In the case of final allotment, the number of allotted shares will also be mentioned.

Steps to check IPO share allotment status via NSE

• Log on to NSE's website – www.nseindia.com
• Create a new registration using the required details.
• Log in to your profile.
• Select the company's name from the dropdown list.
• Verify PAN details and application number.
• Click on the submit button.

Credit of shares into the Demat account of successful bidders along with the initiation of refund for non-allottees will be done on March 18.

Popular Vehicles and Services shares will be listed on NSE and BSE on March 19.

Popular Vehicles and Services IPO comprised fresh issue of 85 lakh equity shares, totalling approximately ₹250 crore, and an offer-for-sale (OFS) of 1.19 crore shares aggregating to ₹351.55 crore. The price band for the public issue has been set in the range of ₹280-295 per share.

Popular Vehicles and Services will utilise the funds raised through the IPO for repayment and pre-payment of debts. A part of the proceeds would also be used for general corporate purposes.

A Kuttukaran Group company, Popular Vehicles and Services is engaged in the business of automotive dealerships and services, retail sales of auto parts and accessories, and pre-owned vehicles. The company operates 100 showrooms and 139 service centres across Tamil Nadu, Kerala, and Karnataka.