Popular Vehicles & Services has commenced full-scale commercial operations of Yanik, a business-to-business e-commerce marketplace focused on automotive spare parts.

Yanik: a B2B marketplace for automotive spare parts

Yanik is designed to serve the automotive aftermarket by connecting buyers and sellers of spare parts through a dedicated B2B digital platform. The launch of full-scale commercial operations marks a significant step in Popular Vehicles & Services' expansion into the digital commerce space within the automotive sector.

The platform targets the organised distribution of automotive spare parts, a segment that has traditionally relied on fragmented, offline supply chains. By operating as a B2B e-commerce marketplace, Yanik aims to bring structure and accessibility to spare parts procurement for businesses operating in the automotive ecosystem.

Operational structure and scale

Yanik operates under Zparex Digisolutions Private Limited, a step-down subsidiary of Popular Mega Motors (India) Private Limited, which is wholly owned by Popular Vehicles & Services. This structure allows the company to leverage its existing physical spare-parts distribution network while extending reach through a scalable digital channel.

The platform currently offers access to 13,000+ verified automotive parts across major categories. These include engine components, brake systems, suspension, transmission, gearboxes, electrical parts, and body and interior components. The digital interface is designed for vehicle maintenance, repair, and performance requirements.

Strategic integration with physical network

Popular Vehicles & Services already maintains an established spare-parts distribution ecosystem serving a diverse customer base. By extending this ecosystem digitally through Yanik, the company aims to improve product accessibility and widen customer reach. Naveen Philip, Managing Director, stated that the combination of OEM relationships, distribution capabilities, and the digital platform creates a scalable and recurring revenue opportunity over the long term.

The move complements the company's extensive physical presence, which includes 211 showrooms, 173 authorized service centers, and 54 retail outlets across seven states.

Popular Vehicles and Services Ltd announced the execution of a Family Settlement Agreement among its promoters to restructure ownership and voting rights. The agreement, dated October 1, 2026, facilitates the exit of Mr. John K. Paul as a promoter, with his stake to be transferred to continuing promoters over three years.

The filing, made under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, clarifies that the listed entity is not a party to the inter-se family arrangement. The settlement aims to preserve family unity while allowing distinct strategic visions for different business verticals. The key parties involved are Mr. John K. Paul, Mr. Francis K. Paul, and Mr. Naveen Philip, along with their spouses.

Key Provisions of the Settlement

The agreement outlines a phased transfer of shareholding and a clear division of operational control. Mr. John K. Paul will resign from the Board of Directors of the listed entity and its subsidiaries. His current holding of 20.39% in the company will be transferred to the continuing promoters in multiple tranches on or before December 31, 2029.

Mr. Francis K. Paul and Mr. Naveen Philip will retain ownership and control of the listed entity and its subsidiaries. Conversely, the outgoing promoter will take charge of specific partnerships, educational trusts, and other companies within the family business structure. A non-compete clause restricts the outgoing promoter from entering competing businesses in the same locations.

Promoter Shareholding Structure

The following table details the current holdings and roles of the promoters involved in the settlement:

What the Numbers Show

The promoter group currently holds a combined stake of approximately 61.19% (20.39% + 20.39% + 20.41%). The transfer of Mr. John K. Paul’s entire 20.39% stake implies that upon completion, the remaining two promoters will consolidate this holding. Given their individual stakes are nearly identical (20.39% and 20.41%), the final distribution between them will determine the ultimate balance of power within the promoter group. The agreement stipulates that the outgoing promoter must cast his vote in favor of the family decision until the transfer is complete, ensuring continuity in governance during the transition period ending December 2029.

Operational and Brand Continuity

Despite the change in promoter status, the brand identity remains intact. The trade names "Kuttukaran" and "Popular" will continue to be used by all family members. The logo of the listed entity is explicitly protected from transfer, even if the business is sold to third parties. Additionally, the company and its subsidiaries will continue to avail training services from Kuttukaran Polytechnic College and the Kuttukaran Institute for Human Resource Development, maintaining existing operational dependencies.

Commenting on the development, Mr. Naveen Philip, Managing Director, stated that the settlement reflects the strength of family bonds and a shared commitment to doing what is right for everyone involved. He thanked Mr. John K. Paul for his contributions and affirmed that the focus remains on delivering quality and value to customers, partners, and employees.