Popular Vehicles and Services to expand its footprint into major northern and western Indian states. The company will start operations in Maharashtra, Gujarat and the Delhi National Capital Region.
Big plans
The firm is also gearing up to become the only publicly-traded automobile retailer in India. It will focus more on the services segment of the business rather than sales. It is coming up with an IPO comprising fresh issuance of equity shares worth Rs 150 crore. The offer for sale (OFS) of 2.6 million shares is by private equity major Banyan Tree.
Market leader
In terms of sales, Popular is among the top five dealership groups in the country. Popular has dealerships with Maruti Suzuki, Tata Motors, Honda and JLR.
