Popular Vehicles and Services Limited has informed the Exchange about Agreements
PVSL · price
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Awaiting price reaction for this filing.
Popular Vehicles and Services Limited's step-down subsidiary Imperion Cars Private Limited (under wholly-owned material subsidiary Popular Mega Motors) has signed an Asset Purchase Agreement to buy the Audi dealership assets of Olympus Motors Private Limited. The acquisition covers 5 operational Audi dealership locations in Telangana and Andhra Pradesh, with estimated annual revenue of Rs. 120-150 crores from these assets. Total cash consideration is Rs. 9.75 crores, and the transaction is not a related party deal, done at arm's length. The deal marks the group's entry into the Andhra Pradesh market and supports expansion of its luxury car segment. Completion is immediate, subject to the terms and conditions of the agreement.
The acquisition broadens PVSL's luxury vehicle footprint into a new state (Andhra Pradesh) at a seemingly attractive valuation (Rs. 9.75 crores for ~Rs. 120-150 crores of annual revenue). Positive for long-term growth, but investors should monitor integration and any further disclosure on deal economics.