Popular Vehicles & Services Ltd (PVSL), a prominent player in the automotive retail sector, has announced the successful completion of its divestment from Vision Motors Private Limited (VMPL), a step-down subsidiary of the company. The transaction, which involved the sale of PVSL's entire 100% stake in VMPL, was finalized on August 25, 2025.

Divestment Details

The divestment process, which had been in the works for several months, reached its conclusion with PVSL selling off its complete ownership in VMPL. Prior to the sale, VMPL was wholly owned by Popular Mega Motors (India) Private Limited, a subsidiary of PVSL, along with its nominee.

Corporate Governance and Transparency

In line with regulatory requirements, PVSL has been transparent about the divestment process:

• The company's Board of Directors had initially approved the divestment proposal in a meeting held on February 12, 2025.
• A subsequent board meeting on May 29, 2025, further deliberated and approved the divestment plan.
• The final execution of the divestment took place on August 25, 2025.

Regulatory Compliance

PVSL has adhered to the regulatory framework by promptly disclosing the completion of the divestment. In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company filed an intimation with both the BSE Limited and the National Stock Exchange of India Limited on August 26, 2025.

Impact and Future Outlook

While the financial terms of the divestment have not been disclosed, this strategic move is likely part of PVSL's efforts to streamline its operations and focus on core business areas. The divestment of VMPL could potentially impact the company's financial structure and operational dynamics going forward.

Investors and stakeholders can find more details about this development on the company's official website at www.popularmaruti.com .

As the automotive retail landscape continues to evolve, Popular Vehicles & Services Ltd's decision to divest from VMPL may signal a shift in its long-term strategy. Market observers will be keen to see how this move affects the company's performance and market position in the coming quarters.

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), a leading integrated automotive dealership player in India, has announced a significant expansion of its commercial vehicle operations in Punjab. The company's 100% step-down subsidiary, Prabal Motors Private Limited, has successfully acquired BharatBenz dealership operations from Globe CV Private Limited in the state.

Acquisition Details

Prabal Motors has executed a Business Transfer Agreement (BTA) to acquire Globe CV's BharatBenz dealership operations in Punjab as a going concern. The transaction, valued at ₹12.00 crores, includes the transfer of entire business units, encompassing new vehicle inventory, assets, and manpower. Notably, the current vehicle inventory is worth ₹22.00 crores.

Expanded Presence

This strategic move positions Prabal Motors as the exclusive dealer partner for BharatBenz in Punjab, with operations spanning eight state-of-the-art facilities across key cities in the state. The acquisition includes:

• Seven integrated 3S outlets (Sales, Service, and Spare Parts)
• One dedicated after-market spare parts facility
• A total of 32 service bays across the facilities

Strategic Importance

The acquisition marks a significant step in Popular Vehicles' long-term growth strategy, expanding its commercial vehicle retail and service ecosystem beyond its strongholds in Kerala, Tamil Nadu, and Maharashtra. This move establishes the company as a pan-India player in the sector.

Mr. Naveen Philip, Promoter and MD of Popular Vehicles and Services Limited, commented on the development: "This transaction marks a major step forward in our long-term growth strategy of expanding beyond our strongholds in Kerala, Tamil Nadu and Maharashtra, positioning us as a pan-India player in the commercial vehicle retail and service ecosystem. Punjab is a key market with significant potential in both freight and passenger movement."

Financial and Operational Impact

The acquisition is expected to bolster Popular Vehicles' presence in Northern India's commercial vehicle market. Globe CV reported revenues of approximately ₹250.00 crores and employed a workforce of 222 people. The integration of these operations is anticipated to strengthen Popular Vehicles' partnership with Daimler India Commercial Vehicles, the manufacturer of BharatBenz trucks.

Future Outlook

With this expansion, Popular Vehicles aims to capture a significant share of Punjab's growing commercial vehicle market. The company plans to leverage its expertise and the newly acquired facilities to achieve stronger and sustainable growth in the region. Popular Vehicles remains committed to investing in capability-building, technology-driven service excellence, and customer-centric solutions as it scales its commercial vehicle business into newer geographies.

This strategic acquisition not only enhances Popular Vehicles' geographic footprint but also reinforces its position as a key player in India's automotive dealership landscape, particularly in the commercial vehicle segment.