Popular Vehicles share price makes a tepid debut, lists with 1% discount at ₹292 apiece on BSE

Popular Vehicles share price made a tepid stock market debut on Tuesday as the stock was listed at ₹292 apiece on the BSE, a discount of 1.02% to the issue price of ₹295 per share.

On NSE, Popular Vehicles share price began trading at a discount of 1.96% at ₹289.20 apiece.

Popular Vehicles and Services IPO listing date was fixed on March 19, i.e. today. As per a BSE notification, 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 bidding for Popular Vehicles & Services IPO commenced on March 12 and concluded on March 14. The IPO allotment was finalized on Friday, March 15 and the shares were listed on BSE, NSE today.

Popular Vehicles & Services IPO price band was set at ₹280 to ₹295 per share. At the upper end of the price band, the company raised ₹601.55 crore from the public issue which was a combination of a fresh issue of 85 lakh equity shares aggregating to ₹250 crores and an offer for sale (OFS) of 1.19 crore shares aggregating to ₹351.55 crore.

Also Read: Krystal Integrated Services IPO allotment to be out today. Check status, GMP, other details

Popular Vehicles IPO lot size was 50 shares and the minimum investment amount required by retail investors was ₹14,750. 

ICICI Securities Limited, Nuvama Wealth Management and Centrum Capital are the book-running lead managers of the Popular Vehicles IPO, while Link Intime India Private Ltd is the IPO registrar.

Popular Vehicles & Services IPO Subscription Status

Popular Vehicles & Services IPO received decent demand from investors as the issue was subscribed 1.23 times overall at the end of the bidding period. The IPO received bids for 1.78 crore equity shares as against 1.44 crore shares on the offer, as per NSE data.

Popular Vehicles IPO was subscribed 1.05 times in the Retail Investors category, 1.97 times in the Qualified Institutional Buyers (QIB) category, and 0.66 times in the Non-Institutional Investors (NII) category.

Catch Stock Market Live Updates here