Popular Vehicles & Services has announced that its subsidiary Imperion Cars Private Limited has executed an Asset Purchase Agreement with Olympus Motors Private Limited for acquiring Audi dealerships worth ₹9.75 crore. The agreement was signed on December 31st, marking the completion of the previously announced acquisition deal.

Deal Structure and Execution Details

The acquisition has been structured through Imperion Cars Private Limited, a 100% subsidiary of Popular Mega Motors (India) Private Limited, which is itself a wholly-owned material subsidiary of Popular Vehicles & Services. The deal involves purchasing assets used in Audi dealership operations on a going concern and asset-by-asset basis.

Target Business Profile

Olympus Motors Private Limited, incorporated in 2007, operates as an authorized dealer of Audi India across Telangana and Andhra Pradesh through a network of 5 operational locations. The company represents a division of SKODA AUTO Volkswagen India Private Limited in these markets.

Strategic Impact and Market Expansion

This acquisition represents Popular Vehicles & Services' strategic expansion into the luxury automotive segment and marks the group's entry into Andhra Pradesh. The deal is expected to strengthen the company's presence in premium vehicle retail operations across South Indian markets.

The transaction is structured as a non-related party deal, with no promoter or promoter group interest in the acquired entity. The acquisition is subject to immediate completion upon satisfaction of agreement terms and conditions, requiring no additional governmental or regulatory approvals.

Popular Vehicles & Services Limited , a prominent player in the automotive retail sector, has successfully completed the appointment of Mr. Murali Narayanan as an Independent Director through a postal ballot process, marking a significant milestone in the company's board restructuring efforts.

Postal Ballot Results

The company announced the completion of its postal ballot process with overwhelming shareholder support. The remote e-voting concluded on December 29, 2025, at 5:00 PM (IST), with the scrutinizer submitting the final report on December 30, 2025.

Director Appointment Details

Mr. Murali Narayanan (DIN: 11356917) has been appointed as Non-Executive Independent Director effective December 29, 2025, for a period of five years. The appointment was approved through a special resolution via postal ballot, and the company confirmed that he is not disqualified from holding the office of Director pursuant to section 164 of the Companies Act, 2013.

Director Profile and Expertise

Mr. Murali Narayanan brings extensive global experience as a seasoned technology leader with expertise in artificial intelligence, modern engineering, automation, and cloud strategy. He has held senior leadership roles in multinational organizations, including GSK and Dell Technologies, where he led large, diverse teams and delivered significant improvements in reliability, efficiency, and digital capability.

His professional background spans strategic technology adoption, operational excellence, and building resilient, AI-enabled enterprise environments. As a recognized innovator, he holds multiple patents and has contributed widely through research publications. As a Certified Independent Director, he combines strong governance perspective with deep technical insight and continues to advance his academic pursuits through ongoing research in data, artificial intelligence, and emerging technologies.

Regulatory Compliance

The postal ballot process was conducted in accordance with Regulation 30 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer, M.C. Sajumon (Membership No: A9868), a Practising Company Secretary, was appointed by the Board of Directors on November 10, 2025, to oversee the transparent voting process.

Strategic Corporate Actions

The company has undertaken several strategic initiatives alongside the board restructuring:

Looking Forward

With the successful completion of the board restructuring and appointment of an experienced technology leader, Popular Vehicles & Services appears focused on strengthening its governance structure while leveraging digital transformation capabilities. The company's ability to secure overwhelming shareholder support for governance changes, combined with its strategic acquisitions and the new director's expertise in AI and modern engineering, positions it for potential operational improvements in the competitive automotive retail sector.