Mumbai, March 13 -- The initial public offer (IPO) of Popular Vehicles and Services received 65,31,800 bids for shares as against 1,44,15,110 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (13 March 2024). The issue was subscribed 0.45 times.

The issue opened for bidding on Tuesday (12 March 2024) and it will close on Thursday (14 March 2024). The price band of the IPO is fixed at Rs 280 to 295 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

The IPO comprises fresh issue of equity shares up to Rs 250 crore and an offer for sale of 1,19,17,075 equity shares, aggregating up to Rs 351.55 crore, by BanyanTree.

The objectives for the fresh issue include Rs 192 crore for...