Popular Vehicles and Services Limited — Important, 23-06-2025: Updates

Popular Vehicles & Services Ltd has announced a board meeting to consider the financial results for the quarter and half-year. The company divested its Vision Motors Pvt. Ltd. stake to Automart Services Pvt. Ltd., led by former senior executive Roy Thomas, at Rs. 68 Cr—above both registered and internal valuations and highest among three bidders. The written down value of Vision Motors was about Rs. 31 Cr. Promoters have extended personal financial support to Mr. Thomas; no corporate guarantee or loan was provided by the company. This transaction was done on an arm’s length basis, aiming to optimize shareholder value.