Initial Public Offering of Popular Vehicles and Services Limited

  • Deal
  • April 2, 2024

JSA advised ICICI Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and Centrum Capital Limited in relation to the initial public offering of Popular Vehicles and Services Limited (“IPO“) comprising of fresh issue of up to Rs. 2,500.00 million and an offer for sale aggregating up to 11,917,075 Equity Shares by the Selling Shareholder, BanyanTree Growth Capital II, LLC.

 Popular Vehicles and Services Limited filed its Prospectus with the Registrar of Companies, Kerala at Ernakulam (“RoC“) on March 14, 2024. As per news reports, the IPO was subscribed 1.07 times in the retail category, 1.92 times in the QIB category, and 0.67 times in the NII category.

Our Transaction Team Comprised Lead Partner  – Madhurima Mukherjee Saha, Partner – Mathew Thomas, Associate – Shristi Kanchan, Sanat Goel and Varun Nair.