Popular Vehicles and Services IPO allotment to be finalised on March 15. It is expected that the company’s shares may get listed on bourses on March 19. The investors can check the allotment details on the registrar’s website.
Here’s how you can check the allotment:
Step 1
Go to the website of the Registrar of Popular Vehicles and navigate to the public issues. Link Intime India is working as the registrar for Popular Vehicles IPO.
Step 2
You need to fill in all your details such as your company name and PAN card number
Step 3
You’re all set to go. Just hit the search button to check the allotment status.
The investors who would not have been allotted shares will receive a refund from the registrar, which will appear in the bank account. The registrar of the issue is responsible for the refund and IPO allotment. The refund is expected to be initiated from March 18.
Popular Vehicles and Services shares were neither fetching a premium nor a discount in the grey market, an unofficial market where shares are traded illegally.
The company opened its bidding for retail subscribers on March 12 and ended on March 14. The minimum subscription to the issue was set between the price band of Rs 280 to 295.
The company is in the business of automobile dealerships in the country. It provides complete service till the lifetime of the ownership, which includes sales of new and pre-owned vehicles.
The collected money’s some part will go to the company while the larger part to shareholders selling their stake as it is a combination of fresh issue and offer for sale. The IPO has a fresh issue of Rs 250 crore and an offer for sale of Rs 351.55 crore.