Popular Vehicles & Services Limited has announced that its wholly owned subsidiary Popular Auto Dealers Private Limited received credit rating affirmation from India Ratings and Research Private Limited on January 6, 2026.

Credit Rating Details

The rating agency has affirmed the existing credit ratings for the subsidiary's bank loan facilities. The comprehensive rating affirmation demonstrates the subsidiary's stable financial position and creditworthiness in the market.

Regulatory Compliance

The company made this disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and developments that could impact investor decisions.

The rating affirmation information has been communicated to both major Indian stock exchanges:

• BSE Limited: Scrip Code 544144
• National Stock Exchange: Symbol PVSL
• ISIN Code: INE772T01024

Company Background

Popular Vehicles and Services Limited operates from its registered office at Kuttukaran Centre, Mamangalam, Kochi. The company maintains business operations across multiple states with GSTIN registrations in Kerala and Tamil Nadu, indicating its multi-state operational presence.

The credit rating affirmation for the subsidiary reflects the group's financial stability and ability to meet its debt obligations. Such ratings are crucial for companies when accessing banking facilities and maintaining relationships with financial institutions.

Popular Vehicles and Services Limited has announced the extension of a corporate guarantee worth ₹5.00 crores to its step-down subsidiary Imperion Cars Private Limited. The guarantee has been provided in favor of Axis Bank Limited for an inventory funding-trade advance facility sanctioned to the subsidiary.

Corporate Guarantee Details

The company filed the intimation on January 5, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The guarantee covers the complete inventory funding facility amount sanctioned by Axis Bank Limited.

Transaction Structure and Compliance

The company has confirmed that the transaction is conducted on an arm's length basis. No promoters, promoter group members, or directors of the company have any interest in this transaction. Imperion Cars Private Limited operates as a step-down subsidiary of Popular Vehicles and Services Limited, making it part of the consolidated group structure.

Financial Impact Assessment

According to the company's disclosure, the corporate guarantee is not expected to have any immediate impact on Popular Vehicles and Services Limited beyond the disclosure requirements in financial statements. The guarantee supports the subsidiary's working capital requirements through the inventory funding facility.

Regulatory Compliance

The intimation was filed in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which mandates specific disclosures for corporate guarantees. The company secretary Varun T.V. signed the disclosure document, ensuring proper regulatory compliance for the corporate guarantee arrangement.