Popular Vehicles IPO listing date today. What GMP, experts signal subdued debut

“Trading Members of the Exchange are hereby informed that effective from Tuesday, March 19, 2024, the equity shares of Popular Vehicles and Services Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” the BSE notice said. So, Popular Vehicles shares will become available for traders from 10:00 AM on Tuesday on BSE and NSE.

Popular Vehicles IPO listing price prediction

According to stock market experts, the book build issue received a muted response from the primary market investors. Even though the company has a tie-up with Maruti Suzuki Indian Ltd (MSIL) — a prominent player in the Indian automobile sector, the company’s financials are weak. So, Popular Vehicles shares may have a subdued debut on Dalal Street. They said that the Popular Vehicles IPO listing price could be in the range of ₹290 to ₹295. This means, stock market experts are not expecting any Popular Vehicles IPO listing gain for the allottees. Meanwhile, the grey market is also not signaling any listing premium for the Popular Vehicles IPO allottees. According to the market observers, Popular Vehicles shares are trading at par with the upper price band of the public issue. This means the grey market is also expecting that Popular Vehicles IPO listing price would be around ₹295.

Asked about the possible Popular Vehicles IPO listing gain for allottees, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, “Popular Vehicles and Services Limited operates in the Indian automobile dealership sector. Its offerings encompass the sale of both new and pre-owned cars, maintenance services, provision of spare parts, driving instruction, and the sale of insurance and financial products to external parties. Through its partnership with Maruti, a prominent player in India, it commands a leading position in the market with a network of over 400 touchpoints. The company experienced growth in both revenue and profit in the specified periods.”

“Popular Vehicles and Services Limited, an Indian automobile dealership company, recently issued a 601.55 crore IPO with a price band of Rs.280-Rs.295 apiece. However, it was subscribed only 1.23 times, and most of its proceeds will be used to repay debts. As per my analysis, this tepid response and its weak financials could prevent a premium listing,” said VLA Ambala, a SEBI registered Research Analyst.

On Popular Vehicles IPO listing price, Amit Goel of Pace 360 said, “We anticipate that the Popular Vehicles & Services IPO will debut with a subdued valuation, likely in the range of ₹290 to ₹295.”

Speaking on Popular Vehicles IPO listing price prediction, Parth Shah, Research Analyst at StoxBox said, “After a muted subscription to the issue, Popular Vehicles and Services Ltd is set to make a tepid debut in the bourses on Tuesday. The company is set to be listed at its subscription price without fetching any premium.”

Popular Vehicles IPO GMP today

According to stock market observers, Popular Vehicles IPO GMP (grey market premium) today is zero. This means the grey market is expecting that Popular Vehicles IPO listing price would be around ₹295 apiece.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 19 Mar 2024, 07:02 AM IST