Popular Vehicles and Services, a car dealership based in Kerala, has announced its intention to launch its initial public offering (IPO) for subscription next week, starting from March 12. The pricing details, including the price band, will be revealed tomorrow, on March 6.The IPO subscription period will end on March 14, while the anchor book will be opened for a single day on March 11. This IPO includes a fresh issue of shares worth Rs 250 crore by the company, along with an offer-for-sale (OFS) of 1,19,17,075 equity shares by the private equity fund BanyanTree Growth Capital II LLC.
Currently, the promoters hold 69.45 percent of the company’s shares, while the remaining stake is owned by public shareholders, including BanyanTree.
Good to see local companies rising