Popular Vehicles and Services Limited’s initial public offering (IPO) is set to debut on March 19, 2024. The IPO will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) during a special pre-open session starting at 10:00 AM.
Experts Predict Subdued Debut
Market experts anticipate a muted response to Popular Vehicles IPO due to weak financials despite its tie-up with Maruti Suzuki Indian Ltd. They predict the listing price to be around ₹290 to ₹295, suggesting no significant gains for IPO allottees. Grey market activities also indicate a similar listing price.
Analysis by Experts
Amit Goel, Co-Founder of Pace 360, noted Popular Vehicles’ growth in revenue and profit but highlighted its tepid IPO subscription and weak financials. VLA Ambala, a SEBI registered Research Analyst, expressed similar sentiments, suggesting that the subdued response and financial situation might prevent a premium listing.
Predictions by Market Analysts
Amit Goel from Pace 360 predicts a subdued debut for Popular Vehicles IPO, estimating the listing price to be around ₹290 to ₹295. Parth Shah, Research Analyst at StoxBox, also expects a tepid debut with the company being listed at its subscription price without any premium.
Grey Market Premium
The grey market premium (GMP) for Popular Vehicles IPO is currently zero, indicating expectations of a listing price around ₹295 per share.
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