The Popular Vehicles & Services IPO, which opened for subscription on March 12, 2024, has seen a moderate response from investors, recording a subscription of 0.16 times by 12:29 PM on Day 1. The IPO has witnessed some interest across various investor categories, with the retail segment leading in terms of subscription.
**Category-wise Subscription Details:**
– **QIB (Qualified Institutional Buyers):** 0.00 times (No bids for the 40,71,551 shares offered)
– **NII (Non-Institutional Investors):** 0.05 times (1,38,100 shares bid for out of 30,53,663 shares offered)
– **bNII (bids above ₹10L):** 0.01 times (14,300 shares bid for out of 20,35,775 shares offered)
– **sNII (bids below ₹10L):** 0.12 times (1,23,800 shares bid for out of 10,17,888 shares offered)
– **Retail:** 0.28 times (20,17,600 shares bid for out of 71,25,213 shares offered)
– **Employee:** 2.68 times (1,00,200 shares bid for out of 37,453 shares offered)
**Total Subscription:** 0.16 times (22,55,900 shares bid for out of 1,42,87,880 shares offered)
While the response from the Qualified Institutional Buyers category has been muted with no bids, the retail segment has shown some interest, oversubscribing by 0.28 times. The Employee category has demonstrated significant enthusiasm, subscribing 2.68 times.
**Total Applications Received:** 19,840
The IPO is still in the early stages of the subscription period, and investors will be closely watching the developments in the coming days. The final subscription figures and allotment details will provide insights into the overall investor sentiment towards Popular Vehicles & Services IPO.
