Popular Vehicles & Services Limited (PVSL) has announced a strategic move to expand its business operations by acquiring R.K.S. Motor Private Limited, a Maruti Suzuki dealership in Telangana. The Board of Directors of PVSL approved the acquisition on October 8, 2025, marking a significant step in the company's growth strategy.

Acquisition Details

The acquisition, structured as a slump sale, comes with a price tag not exceeding ₹93 crores. This move is set to broaden PVSL's presence in the Indian automobile retail sector, particularly in the Telangana market. Here are the key details of the acquisition:

Strategic Implications

The acquisition of R.K.S. Motor Private Limited aligns with Popular Vehicles' expansion strategy, allowing the company to:

1. Enter the Telangana market, diversifying its geographical presence
2. Strengthen its partnership with Maruti Suzuki India Limited (MSIL)
3. Potentially increase its market share in the automobile dealership sector

Additional Board Approvals

In the same board meeting, PVSL also approved two other significant proposals:

1. Incorporation of a new step-down subsidiary under Popular Mega Motors (India) Private Limited to set up a spare parts and accessories e-commerce platform.
2. Evaluation of opportunities for adding another luxury dealership brand to its portfolio.

These decisions indicate PVSL's intent to not only expand geographically but also diversify its business model and brand offerings.

Market Impact

The acquisition is expected to have a positive impact on Popular Vehicles' market position. By acquiring an established dealership with a turnover of ₹492.90 crores (FY 2024-25), PVSL is poised to see an immediate boost in its revenue and market presence.

As the Indian automobile market continues to evolve, strategic acquisitions like this one could play a crucial role in shaping the competitive landscape of the auto dealership sector. Investors and market watchers will likely keep a close eye on how PVSL integrates this new acquisition and leverages it for future growth.

The completion of this deal, subject to necessary approvals and conditions, is anticipated to strengthen Popular Vehicles' position in the automotive retail space and potentially create value for its shareholders in the long run.

Popular Vehicles & Services , a prominent player in the automotive retail sector, has announced the appointment of Mr. Neeraj Jain as a Non-Executive Independent Director. The appointment, approved by shareholders through a special resolution at the company's 41st Annual General Meeting (AGM), is for a five-year term commencing September 29, 2025.

Appointment Details

Mr. Jain, a distinguished professional with over three decades of leadership experience, brings a wealth of expertise to the board. His appointment was recommended by the Board of Directors and the Nomination and Remuneration Committee, highlighting Popular Vehicles & Services' commitment to strengthening its governance structure.

Professional Background

Mr. Neeraj Jain is a rank-holder Chartered Accountant and Company Secretary with an impressive career spanning more than 30 years. His extensive experience encompasses leadership roles in finance, supply chain, and business management across renowned organizations such as Johnson & Johnson and Hindustan Unilever. Mr. Jain's career trajectory includes positions of increasing responsibility across India, ASEAN, and Asia Pacific regions.

Recognition and Accolades

The newly appointed director's expertise has been widely recognized in the industry. Mr. Jain was honored as one of the 100 most influential CFOs in India in 2016 by CImA. Prior to this, he was acknowledged among the top 100 CFOs in 2015 by 9.9 Media, further attesting to his financial acumen and leadership capabilities.

Compliance and Eligibility

Popular Vehicles & Services has confirmed that Mr. Jain is not related to any existing directors of the company. Furthermore, the company has affirmed that he is not disqualified from holding the office of Director under the provisions of section 164 of the Companies Act, 2013. This appointment aligns with regulatory requirements, including those set forth by SEBI and the Companies Act.

AGM Proceedings

The appointment of Mr. Neeraj Jain was one of several resolutions passed at the company's AGM. The meeting, which took place on September 29, 2025, saw robust participation from shareholders. The AGM, conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), commenced at 04:00 PM and concluded at 04:58 PM.

Shareholder Approval

The resolution for Mr. Jain's appointment received overwhelming support from the shareholders. According to the scrutinizer's report, 99.99% of the valid votes were cast in favor of the resolution, with only a negligible 0.01% against it. This strong endorsement reflects the shareholders' confidence in Mr. Jain's potential contributions to the company's future growth and governance.

Popular Vehicles & Services' decision to bring Mr. Neeraj Jain on board as an Independent Director is expected to further strengthen the company's leadership team and corporate governance practices. His extensive experience in finance and business management across multinational corporations is likely to provide valuable insights as the company navigates the evolving automotive retail landscape.