Upcoming IPOs: Popular Vehicles & Services and Krystal Integrated Services

The week starting from March 11, 2024 will see the initial public offerings (IPO) of two companies, Popular Vehicles & Services Limited and Krystal Integrated Services Limited.

The two companies will debut on Dalal Street looking to raise money through their respective IPOs.

Popular Vehicles & Services Limited IPO

Popular Vehicles & Services Limited, a key player in the automotive industry, is set to open its IPO for subscription on March 12, 2024.

The company aims to raise Rs 601.55 crore through this offering, with a combination of fresh issue and offer for sale of shares.

Investors can subscribe to the issue until March 14, 2024, with allotment expected to conclude on March 15, 2024.

The company plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) tentatively by March 19, 2024.

With a price band set between Rs 280 to Rs 295 per share, the minimum lot size stands at 50 shares, making it accessible for retail investors with an entry point of Rs 14,750.

The IPO management duties rest with ICICI Securities Limited, Nuvama Wealth Management Limited, and Centrum Capital Limited, while Link Intime India Private Ltd is entrusted with the registrar responsibilities.

Proceeds from the IPO will primarily go towards the repayment and/or pre-payment of certain borrowings, along with allocation for general corporate purposes.