Auto Dealership - Listed on 19 March 2024
Popular Vehicles (Auto Dealership) closed its IPO window in 2024 and listed on NSE and BSE on 19 March 2024 at an upper band issue price of Rs 295, opening at Rs 289.2 for a listing gain of -2.0% and closing day one at Rs 276.15 (-6.4% on closing basis). The IPO was subscribed 13.21x overall - QIB 7.33x, HNI/NII 43.90x, Retail 3.31x. The total issue size was Rs 300.12 Cr (Fresh Issue Rs 175 Cr, OFS Rs 125.12 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Auto Dealership
Popular Vehicles operates in the Auto Dealership space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Popular Vehicles issue was offered at an upper price of Rs 295 and raised approximately Rs 300.12 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 85 | +13.56% |
| Day 2 | Rs 70 | +20.34% |
| Day 3 | Rs 40 | +16.95% |
| Day 4 | Rs 40 | +13.56% |
| Day 5 | Rs 50 | +13.56% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Popular Vehicles IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Popular Vehicles IPO listed at -2.0% versus the upper issue price of Rs 295 on 19 March 2024.
Popular Vehicles IPO was subscribed 13.21x overall. QIB portion was subscribed 7.33x, HNI / NII 43.90x and Retail 3.31x.
IPO GMP started at Rs 85 on Day 1 and moved to Rs 50 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.