Popular Vehicles IPO listing date today. GMP, experts signal subdued debut of shares
Popular Vehicles IPO: The listing date of the initial public offering (IPO) of Popular Vehicles and Services Limited has been fixed on 19th March 2024 i.e. today. As per the information available on the BSE website, Popular Vehicles IPO will be listed on BSE and NSE in a special pre-open session on Tuesday, 19th March 2024.
"Trading Members of the Exchange are hereby informed that effective from Tuesday, March 19, 2024, the equity shares of Popular Vehicles and Services Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities," the BSE notice said. So, Popular Vehicles shares will become available for traders from 10:00 AM on Tuesday on BSE and NSE. According to stock market experts, the book build issue received a muted response from the primary market investors.
Even though the company has a tie-up with Maruti Suzuki Indian Ltd (MSIL) — a prominent player in the Indian automobile sector, the company's financials are weak. So, Popular Vehicles shares may have a subdued debut on Dalal Street. They said that the Popular Vehicles IPO listing price could be in the range of ₹290 to ₹295.
This means, stock market experts are not expecting any Popular Vehicles IPO listing gain for the allottees. Meanwhile, the grey market is also not signaling any listing premium for the Popular Vehicles IPO allottees. According to the market observers, Popular Vehicles shares are trading at par with the upper price band of the public issue.
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